Gold price this afternoon February 13, 2025: Gold price increased sharply due to high inflation pressure

Domestic gold price this afternoon February 13, 2025

As of 2:00 p.m. this afternoon, February 13, 2025, domestic gold prices increased sharply in both buying and selling directions.

At Saigon Jewelry Company (SJC), the price of gold bars is listed at VND87.7 million/tael (buy) and VND90.7 million/tael (sell). A sharp increase of VND1 million/tael in the buying direction - an increase of VND500,000/tael in the selling direction compared to the closing price of yesterday's trading session.

DOJI system listed SJC gold at buying price of 87.7 million VND/tael and selling price of 90.7 million VND/tael. This price increased sharply by 1 million VND/tael for buying - increased by 500 thousand VND/tael for selling compared to yesterday.

At Mi Hong Jewelry Company, the buying price of SJC gold is 88.5 million VND/tael and the selling price is 90.2 million VND/tael. Thus, compared to yesterday's session, the buying price remained unchanged and the selling price increased by 700 thousand VND/tael.

Bao Tin Minh Chau Company Limited listed the price of SJC gold at 87.7 million VND/tael (buy) and 90.7 million VND/tael (sell). This price increased sharply by 1 million VND/tael for buying - increased by 500 thousand VND/tael for selling compared to yesterday.

The current buying price of SJC 9999 gold rings is 87.7 million VND/tael and the selling price is 90.5 million VND/tael. A sharp increase of 1 million VND/tael in buying price - an increase of 800 thousand VND/tael in selling price compared to the end of yesterday's trading session.

For Hung Thinh Vuong 9999 gold ring (DOJI), the buying price increased to 89.2 million VND/tael and the selling price increased sharply to 90.7 million VND/tael, an increase of 700 thousand VND/tael in buying - an increase of 500 thousand VND/tael in selling compared to yesterday.

The rise in gold prices was driven by safe-haven demand amid rising economic and geopolitical tensions.

In addition, high inflationary pressures in many major economies are also a factor that promotes money flows into gold. When investors lose confidence in financial markets and fiat currencies, gold becomes the top choice to preserve asset value.

World gold price this afternoon February 13, 2025

As of 2:00 p.m. on February 13 (Vietnam time), the world gold price listed on Kitco was at 2,915.43 USD/ounce, up 22.61 USD/ounce compared to the beginning of the previous trading session.

World gold prices continue to benefit as investors seek cash flow amid concerns about geopolitical tensions in the Middle East, negative impacts from US tariff policies on some partners and trade tensions between the US and China...

In a recent interview with Kitco News, Gary Wagner said that gold prices are now approaching the important psychological level of $3,000 an ounce. "Round numbers like $1,000, $2,000 or $3,000 an ounce are always important psychological levels," Wagner said.

He believes that gold reaching $3,000 an ounce is just a matter of time: 'It's not if, but when. And I think it will happen soon.'

Mr. Daniel Pavilonis - senior analyst at RJO Futures, said that although gold had a small sell-off, people still wanted to invest in gold due to concerns about inflation and geopolitical situations.

The most important economic data of the week showed that the US consumer price index (CPI) increased 3.0% year-on-year in January. The CPI is forecast to increase 2.9% year-on-year.

The recovery in global gold prices from the lows of the past two days shows that investors are focused on rising inflation and monetary policy. As a result, optimism remains high as gold continues to act as a hedge against economic uncertainty. Although Powell’s remarks and higher-than-expected inflation data have dampened gold’s gains, the rapid recovery from the lows of the day shows that investors are still holding on to the precious metal amid economic and geopolitical uncertainty.