Gold price this afternoon February 11, 2025: Gold price increased sharply then decreased due to profit-taking selling pressure

Domestic gold price this afternoon February 11, 2025

As of 2:00 p.m. this afternoon, February 11, 2025, domestic gold houses slightly increased buying prices and slightly decreased selling prices.

At Saigon Jewelry Company (SJC), the price of gold bars is listed at VND88.4 million/tael (buy) and VND90.9 million/tael (sell). A slight increase of VND100,000/tael in the buying direction - a decrease of VND400,000/tael in the selling direction compared to the closing price of yesterday's trading session.

DOJI system listed SJC gold at buying price of 88.4 million VND/tael and selling price of 90.9 million VND/tael. This price increased slightly by 100 thousand VND/tael for buying - decreased by 400 thousand VND/tael for selling compared to yesterday.

At Mi Hong Jewelry Company, the buying price of SJC gold is 88.6 million VND/tael and the selling price is 90 million VND/tael. Thus, compared to yesterday's session, the buying price increased by 300 thousand VND/tael and the selling price increased by 500 thousand VND/tael.

Bao Tin Minh Chau Company Limited listed the price of SJC gold at 88.4 million VND/tael (buy) and 90.9 million VND/tael (sell). This price increased slightly by 100 thousand VND/tael for buying - decreased by 400 thousand VND/tael for selling compared to yesterday.

The current buying price of SJC 9999 gold rings is 88.2 million VND/tael and the selling price is 90.7 million VND/tael. A slight increase of 200 thousand VND/tael in the buying direction - unchanged in the selling direction compared to the end of yesterday's trading session.

For Hung Thinh Vuong 9999 gold ring (DOJI), the buying price dropped sharply to 88.2 million VND/tael and the selling price dropped sharply to 90.7 million VND/tael, a decrease of 1 million VND/tael in buying price - a decrease of 500 thousand VND/tael in selling price compared to yesterday.

This morning, after the price of gold bars skyrocketed to 93.1 million VND/tael, a representative of SJC Company said that many customers brought gold out to sell for profit when they saw the record high price appear.

Meanwhile, other gold trading units sold gold bars at 92 million VND/tael such as Doji Group, Bao Tin Minh Chau, Phu Quy, and bought at 89 million VND/tael. This is the highest price ever for SJC gold bars when it increased by 1.8 million VND/tael overnight.

Also because of many sellers, the gold price was immediately adjusted down by companies to the current price at 2:00 p.m., the domestic gold price was affected by profit-taking selling pressure in the market.

World gold price this afternoon February 11, 2025

As of 2:00 p.m. on February 11 (Vietnam time), the world gold price continued to break the record high of 2,911 USD/ounce, up 17.16 USD compared to the previous session. The difference between domestic and world gold prices is currently only around 2-2.5 million VND per tael.

Compared to early February, the world gold price has increased by a total of 314 USD/ounce. However, the information supporting gold is still quite strong, especially the tax policy that the US applies to countries importing into this country.

On February 10, US President Donald Trump signed an executive order imposing a 25% tariff on all aluminum and steel imported into the US, without exception. This week, he is also expected to announce reciprocal import tariffs on US trading partners. Precious metals, according to experts, reacted to the news, due to concerns that import tariffs will fuel US inflation.

“Clearly the tariff war is the main reason for the increase in gold prices; this reflects the increasing uncertainty and tension in the global trade situation,” said Marex analyst Edward Meir.

Investors are particularly concerned about the potential for higher inflation from these tariffs. While the impact of tariffs on U.S. import prices is often delayed, markets are now focused on this week’s Consumer Price Index (CPI) and Producer Price Index (PPI) reports.

Gold prices approaching the $3,000 mark not only attract the attention of analysts, but also make many consumers take advantage of this price increase.

“Most people don’t know the exact price of gold, but they are starting to see that it is fluctuating. Many people are surprised to find out how much their grandmother’s anniversary bracelet is worth. About eight out of 10 customers come in and eventually decide to sell their jewelry when they know its true value.”

According to expert Tran Duy Phuong, the domestic gold price fluctuates erratically because the world gold price, after increasing rapidly and continuously being in a state of over-buying, has shown signs of adjustment today. Meanwhile, although the gold price has increased, the gold market is gloomy, with few buyers.

Mr. Phuong predicts that if investors take profits, the world gold price will drop sharply, possibly up to 100 USD/ounce, causing the domestic gold price to plummet.