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.

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.

Tai thoi diem viet bai (8h36 ngay 5.2.2025 - gio Viet Nam) gia vang giao ngay niem yet tren Kitco o muc 2.842,30 USD/ounce.
At the time of writing (8:36 a.m. February 5, 2025 - Vietnam time), the spot gold price listed on Kitco was at $2,842.30/ounce.

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.

While investment demand and speculative activity may create some volatility, Joy Yang said the overall trend for gold prices remains upward.

“The gold market has a solid foundation of central bank demand, which will continue to drive gold prices,” she said. “The current environment is still very favorable for gold demand, and I don’t see that changing this year. So I believe gold will continue to set new record highs.”

While gold is attracting attention as a safe-haven asset, the expert also sees potential in silver.

“Investors are looking for safety, but they are also looking for value. Silver has been undervalued for a long time, so I think there is significant potential for this metal,” she said.

Khương Duy (Theo Kitco)
TIN LIÊN QUAN

24h Economy: Gold ring price breaks out; Arabica coffee price increases

|

Gold prices soar, people rush to buy; Arabica coffee prices increase; Stocks surge as the US postpones tariffs... are notable economic news in the past 24 hours.

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.

Gold price update morning 5.2: All-time high

|

Gold price update morning 5.2: World gold price increased sharply, reaching an all-time high.

Cold air causes snow and ice to end?

|

A strong cold spell causing snow and ice in Vietnam and many Asian countries is expected to last for the next 1-2 days.

Young people race to Ha Cau Duyen pagoda, "run KPI" to get married

|

In the early days of the Spring of the Snake 2025, a lot of people went to Ha Pagoda to celebrate the first year.

Unexpectedly drop bombs, Russian UAV destroyed the enemy quickly

|

Russia's unmanned aircraft operating teams have carried out a series of accurate bombing, causing serious damage to the Ukrainian troops in the direction of Kurakhovo.

Specialty of sweet tea bars in the season, the price is still sucking

|

Vinh Long - The selling price ranges from 160,000 - 200,000 VND/kg but sweet tea bars are still popular with many people, farmers are not enough to demand.

The situation of land lots in Thu Thiem was auctioned in 2025

|

Ho Chi Minh City - Thu Duc City is expected to auction 49 plots of land in Thu Thiem new urban area from June June, serving the development of residential, trade and cultural services.

24h Economy: Gold ring price breaks out; Arabica coffee price increases

Phương Anh |

Gold prices soar, people rush to buy; Arabica coffee prices increase; Stocks surge as the US postpones tariffs... are notable economic news in the past 24 hours.

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.

Gold price update morning 5.2: All-time high

Khương Duy (Theo Kitco, Bloomberg) |

Gold price update morning 5.2: World gold price increased sharply, reaching an all-time high.