Gold price this afternoon February 5, 2025: Gold price increases, breaking all-time high

Domestic gold price this afternoon February 5, 2025

As of 2:00 p.m. this afternoon, February 5, 2025, gold shops simultaneously adjusted sharply, the price of SJC gold and smooth round gold rings increased sharply to 91 million VND for selling price.

At Saigon Jewelry Company (SJC), the price of gold bars is listed at 88 million VND/tael (buy) and 91 million VND/tael (sell). An increase of 400 thousand VND/tael in buying price - an increase of 900 thousand VND/tael in selling price compared to the closing price of yesterday's trading session.

DOJI system listed SJC gold at buying price of 88 million VND/tael and selling price of 91 million VND/tael. This price increased by 400 thousand VND/tael for buying and 900 thousand VND/tael for selling compared to yesterday.

At Mi Hong Jewelry Company, the buying price of SJC gold is 88 million VND/tael and the selling price is 89.5 million VND/tael. Thus, compared to yesterday's session, the buying price increased by 400 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 million VND/tael (buy) and 91 million VND/tael (sell). This price increased by 400 thousand VND/tael for buying and 900 thousand VND/tael for selling compared to yesterday.

The current buying price of SJC 9999 gold ring is 88 million VND/tael and selling price is 90.5 million VND/tael. An increase of 400 thousand VND/tael in buying price - an increase of 900 thousand VND/tael in selling price compared to the closing price of yesterday's trading session.

For Hung Thinh Vuong 9999 ring gold (DOJI), the buying price increased sharply to 88.2 million VND/tael and the selling price increased sharply to 91 million VND/tael, an increase of 200 thousand VND per tael for buying - an increase of 1 million VND per tael for selling compared to yesterday.

PNJ plain gold rings were bought at 88.2 million VND/tael and sold at 90.7 million VND/tael, down 100 thousand VND per tael for buying - up 800 thousand VND per tael for selling compared to yesterday.

World gold price this afternoon February 5, 2025

In the international market, the world gold price broke the all-time high of 2,852 USD/ounce. An increase of about 40 USD/ounce compared to the end of February 4, converted according to Vietcombank's selling rate, equivalent to 87.23 million VND/tael.

Markets rose as investors bought safe-haven assets amid escalating US-China trade tensions. Minutes after the US imposed a 10% import tax on all Chinese goods on February 4, Beijing announced retaliatory tariffs, launched an antitrust investigation into Google and blacklisted two US companies for possible sanctions.

The US dollar fell after China announced retaliatory tariffs on US goods, further supporting the upward trend in gold prices.

However, according to experts, tariffs can also cause higher inflation and interest rates in the US, leading to a rise in the value of the USD. This is an obstacle to the possibility of higher gold prices.

With the unpredictable nature of the Trump 2.0 administration, plus the possibility that central banks may continue to net buy gold to diversify reserves away from the USD, experts predict that the world gold price is likely to reach 3,000 USD/ounce this year.

In an interview with Kitco News, Joy Yang, global head 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.

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 look for 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.