Domestic gold prices this morning, January 25, are being traded at the following level:
The gold price is currently listed by Bao Tin Minh Chau at 43.65 - 43.95 million VND/tael (buy - sell).
Doji Hanoi Jewelry Group listed at 43.45 million VND/tael (buy) and 43.85 million VND/tael (sell).
Ho Chi Minh City SJC listed at 43.30 million VND/tael (buy) and 43.75 million VND/tael (sell).
Phu Quy SJC listed gold prices at 43.50 million VND/tael (buy) and 43.80 million VND/tael (sell).
The world gold price today, January 25, at 7:55 a.m. (Vietnam time), was listed by Kitco at 1571.60 USD/ounce (up 10 USD compared to the same trading time on the morning of January 24.
Gold for February delivery increased by 0.36% to 1,571.10 USD, recorded at 7:55 (Vietnam time) on January 25.
World gold prices have skyrocketed in many sessions after the news of a serious COVID-19 pneumonia epidemic in China.
Gold futures have risen 0.6% to $1,565.75 an ounce, after a sharp decline in the global stock market. Spot gold increased by 0.5% to 1566.38 USD.
China has blockaded three cities on January 23, including Wukong, Huang Cuong and Ngacshau, the focus of the new corona virus outbreak.
At the end of the session on January 24, gold prices fell as USD prices increased and risk-off investment sentiment improved after the World Health Organization (WHO) issued statements to ease concerns about the global outbreak of COVID-19.
Entering 2020 (Lunar calendar), many forecasts are optimistic about gold prices. Market analysts believe that gold prices in 2020 could set a new record in the context of geopolitical instability, as the world of investors will rush to seek safe-haven assets, including precious metals.
Saxo Bank analyst Ole Hansen said gold prices are facing obstacles from stronger US dollar and greenback stocks, but the price of this weak metal is unlikely to fall below $1,520 due to a series of ongoing geopolitical uncertainties.
Mr. Daniel Hynes, analyst at Daniel ANZ, said that in a low interest rate environment, geopolitical risks are favorable conditions that push gold prices up.
