Gold price today 5.2: Breaking the peak, all-time high

Khương Duy (Theo Kitco) |

Gold price today 5.2 continuously broke the peak. World gold price reached an all-time high of 2,853.7 USD/ounce.

Update SJC gold price

As of 9:00 a.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND88-91 million/tael (buy - sell); down VND100,000/tael for buying and up VND400,000/tael for selling.

The difference between buying and selling price of SJC gold at Saigon Jewelry Company is at 3 million VND/tael.

Dien bien gia vang SJC nhung phien gan day. Bieu do: Khuong Duy
SJC gold price movements in recent sessions. Chart: Khuong Duy

Meanwhile, the price of SJC gold bars listed by DOJI Group is at 88-91 million VND/tael (buy - sell); down 100,000 VND/tael for buying and up 400,000 VND/tael for selling.

The difference between buying and selling prices of SJC gold at DOJI Group is at 3 million VND/tael.

Price of round gold ring 9999

As of 9:00 a.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 88.4-91 million VND/tael (buy - sell); down 500,000 VND/tael for buying and up 500,000 VND/tael for selling compared to early this morning.

Dien bien gia vang nhan tron nhung phien gan day. Bieu do: Khuong Duy
Price movements of plain gold rings in recent sessions. Chart: Khuong Duy

Bao Tin Minh Chau listed the price of gold rings at 88.4-90.95 million VND/tael (buy - sell), down 100,000 VND/tael for buying and up 400,000 VND/tael for selling compared to early this morning.

World gold price

As of 9:12 a.m., the world gold price listed on Kitco was at 2,853.7 USD/ounce, up 30 USD/ounce compared to the beginning of the previous trading session.

Dien bien gia vang the gioi nhung phien gan day. Nguon: Kitco
World gold price movements in recent sessions. Source: Kitco

Gold Price Forecast

World gold prices increased sharply in the context of the USD falling. Recorded at 9:15 a.m. on February 5, the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 107.740 points (down 0.09%).

Despite the temporary halt to trade tensions, gold prices are showing no signs of cooling down. One market strategist said geopolitical uncertainty will continue to support gold prices.

In an interview with Kitco News, Joy Yang, Global Director of Index Product Management at MarketVector, said that despite gold hitting a record high above $2,800 an ounce, the precious metal could still rise higher as geopolitical instability shows no signs of ending.

Even as US President Donald Trump delayed imposing tariffs on Mexico and Canada for 30 days, the expert explained that gold's renewed drive as a safe-haven asset is not limited to a few trade disputes.

“There will be times when another unexpected factor appears that the market cannot react to. In this context, it is reasonable for gold prices to remain above $2,800/ounce,” said Joy Yang.

Geopolitical uncertainty isn’t the only factor driving gold prices, however. Joy Yang said gold will also become an important asset to diversify portfolios as investors continue to adjust their expectations in the technology sector after China announced a cheaper AI product.

With stock valuations at historic levels, investors are inherently more cautious, so demand for defensive assets like gold is increasing, she stressed.

“When you don’t know what’s going to happen, you want to find an asset that is not affected by surprises and other factors, which is gold. It tends to move in its own way, and that’s good,” Yang said.

She also stressed that gold is an important safe-haven asset because of the buying power coming from central banks, which is the main driver behind the gold price rally in 2024. Yang expects central banks to continue to increase their gold holdings.

See more news related to gold prices HERE...

Khương Duy (Theo Kitco)
TIN LIÊN QUAN

Gold price breaks record, rising momentum continues

|

According to Kitco, gold prices surpassed $2,800/ounce and continued to rise amid geopolitical tensions boosting demand for gold.

What made the gold price last night hit a record high

|

Many factors supported the strong increase in world gold prices, at one point reaching 2,848.3 USD/ounce.

Gold prices rise regardless, heading straight to $3,000/ounce

|

Despite the strength of the US dollar and rising interest rates, world gold prices have maintained impressive growth momentum, moving straight towards the $3,000/ounce mark.

The Party Committee of the National Assembly announced the decision on 12 leaders

|

The Standing Committee of the National Assembly Party Committee has assigned, mobilized and appointed 12 officials as leaders of advisory agencies and assisting the Party Committee of the National Assembly.

Ha Noi Heavy punishment of bald sea for food safety violations

|

Hanoi - Two food businesses were fined 76 million VND for food hygiene and safety violations.

Fire in Thanh Tri district, smoke smoke rising up with a loud explosion

|

Hanoi - a big fire occurred at the rubber material dump in Thanh Tri district, not recognized for human casualties.

Lao Cai - Hanoi - Hai Phong railway is short, the most straight

|

The Minister of Transport said that the direction of the Lao Cai - Hanoi - Hai Phong railway line has been studied and selected to ensure the shortest and most direct possible.

A series of borrowed loans at Eximbank Dak Lak

|

Eximbank Dak Lak was detected violations of regulations on credit issuance. Notably, two -thirds of high -level credit council members are related to violating loans.

Gold price breaks record, rising momentum continues

Khương Duy (Theo Kitco) |

According to Kitco, gold prices surpassed $2,800/ounce and continued to rise amid geopolitical tensions boosting demand for gold.

What made the gold price last night hit a record high

Khương Duy (Theo Kitco) |

Many factors supported the strong increase in world gold prices, at one point reaching 2,848.3 USD/ounce.

Gold prices rise regardless, heading straight to $3,000/ounce

Khương Duy (Theo Kitco) |

Despite the strength of the US dollar and rising interest rates, world gold prices have maintained impressive growth momentum, moving straight towards the $3,000/ounce mark.