Gold price update morning of February 28: Suddenly soaring

SJC gold bar price

As of 6:00 AM, SJC gold bar prices were listed by DOJI Group at the threshold of 181-184 million VND/tael (buying - selling), down 900,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 180.5-183.5 million VND/tael (buying - selling), down 500. 00 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

Phu Quy Jewelry Group listed SJC gold bar prices at 181-184 million VND/tael (buying - selling), unchanged in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

9999 gold ring price

As of 6:00 AM, DOJI Group listed the price of gold rings at the threshold of 180.9-183.9 million VND/tael (buying - selling), unchanged in both directions compared to the previous day. The buying - selling difference is at 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 180.5-183.5 million VND/tael (buying - selling), down 500. 00 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Phu Quy Gold and Gems Group listed the price of gold rings at 180.5-183.5 million VND/tael (buying - selling), unchanged in both directions. The buying - selling difference is at 3 million VND/tael.

Currently, the buying - selling price difference of gold is at a very high level, around 3 million VND/tael, posing a risk of losses for investors.

World gold price

At 1:45 AM, world gold prices were listed around the threshold of 5.237 USD/ounce, up sharply by 89.8 USD.

Gold price forecast

World gold prices continue to stand firm above the 5,200 USD/ounce mark amid inflationary pressure in the US showing signs of heating up again. Newly released data shows that the producer price index (PPI) in January increased by 0.5%, higher than the forecast of 0.3% and continued the upward momentum of the previous month.

Notably, the core PPI - excluding food and energy - increased by 0.8% in the month and increased by 3.6% compared to the same period last year, reflecting widespread price pressure in the economy.

Usually, the PPI is considered an early indicator of consumer inflation, because businesses tend to shift increased input costs to buyers. This raises concerns that the US Federal Reserve (Fed) may have to be more cautious with its monetary policy easing plan.

Mr. Chris Zaccarelli - Investment Director of Northlight Asset Management - said that inflation has not been the focus of the market recently, but the strong increase in wholesale prices may cause stock investors to worry again.

According to him, the new figures may be another reason for the Fed to postpone interest rate cuts and wait until the second half of the year to adjust policies.

In the opposite direction, Ms. Chantelle Schieven - Head of Research at Capitalight Research - said that if the US economy continues to weaken, the Fed will be forced to cut interest rates even when inflation has not completely cooled down.

According to her, the scenario of high inflation accompanied by interest rate cuts will reduce the opportunity cost of holding gold, thereby creating a favorable environment for precious metals.

In the short term, gold is still supported by safe-haven demand in the face of growth risks and financial volatility. However, the medium-term outlook will largely depend on upcoming inflation data as well as policy messages from the Fed. The 5,200 USD/ounce mark is currently considered an important psychological support zone; if maintained, gold prices may continue to maintain a positive trend.