Gold price today February 11, 2025: Domestic and world gold prices increase sharply, continuously breaking records

Domestic gold price today 11/2/2025

At the time of survey at 4:30 a.m. on February 11, 2025, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold today at 88.3 million VND/tael for buying and 91.33 million VND/tael for selling. A sharp increase of 1.5 million VND/tael for buying - an increase of 1 million VND/tael for selling compared to yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 88.3-89.8 million VND/tael for buying and selling. Compared to yesterday, the gold price increased by 1.1 million VND/tael for buying and 1.3 million VND/tael for selling compared to yesterday.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 88.3-91.3 million VND/tael (buying - selling, increased sharply by 1.5 million VND/tael in buying direction - increased by 1 million VND/tael in selling direction compared to yesterday.

SJC gold price in Phu Quy is traded by businesses at 88.3-91.3 million VND/tael (buy - sell), a sharp increase of 1.5 million VND/tael in buying - an increase of 1 million VND/tael in selling compared to yesterday.

The latest gold price list today, February 11, 2025 is as follows:

The price of gold rings suddenly skyrocketed to a historical high of 91.25 million VND/tael at Bao Tin Minh Chau.

Gold prices have increased, but due to the large difference between buying and selling prices, people who bought gold on God of Wealth Day have still lost 2 million VND/tael for SJC gold bars and up to 1.4 million VND/tael for gold rings.

World gold price today February 11, 2025 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 4:00 a.m. today, Vietnam time, was 2,900.48 USD/ounce. Today's gold price increased by 39.65 USD compared to yesterday. Converted according to the USD exchange rate, on the free market (25,680 VND/USD), the world gold price is about 90.78 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 520 thousand VND/tael higher than the international gold price.

The world gold price has increased sharply, breaking the record to 2900 USD due to the strong demand for safe assets. This is the 7th time gold has set a record this year. The main reason is the concern about a global trade war after US President Donald Trump announced a new tax plan.

"Gold will continue its bullish trend as long as President Trump's threatening policies continue to cause fear and uncertainty in global financial markets," said Han Tan, market analyst at Exinity Group.

The main reason for the increase in gold prices was Mr. Trump's announcement that he would impose an additional 25% import tax on steel and aluminum, and would announce reciprocal tariffs with other countries this week.

Investors will also be looking ahead to the US consumer price index (CPI) and producer price index (PPI) due later this week, which could help predict the direction of US interest rates. Gold is often seen as a safe haven in times of economic and geopolitical uncertainty, but higher interest rates can dampen the appeal of non-yielding gold.

"If the US CPI is higher than expected, causing the Federal Reserve to delay a rate cut, this could cause spot gold prices to fall slightly as investors take profits," Mr. Tan added.

Meanwhile, Ms. Adriana Kugler, a member of the Fed Board of Governors, said keeping interest rates unchanged was "prudent" in the context of stable inflation, a strong labor market and many policy uncertainties.

On the other hand, the London Bullion Market Association (LBMA) said that gold reserves in vaults in London fell 1.7% in January, to 8,535 tonnes, equivalent to 771.6 billion USD, due to strong demand for gold transportation to the US.

Other precious metals also rose: Silver rose 1.3% to $32.22 an ounce after hitting a three-month high last Friday. Platinum rose 0.7% to $983.38, while palladium rose 0.8% to $972.50.

Gold Price Forecast

Major banks including Citigroup and UBS have both raised their gold price forecasts. Citi expects gold prices to hit $3,000 an ounce in the next three months as geopolitical tensions and trade wars boost demand for safe-haven assets.

UOB believes that safe-haven demand for gold is increasing, not only from central banks to increase their reserves but also from retail investors globally. Importantly, safe-haven demand for gold is also helping the precious metal avoid negative pressure from the strong US dollar.

The latest signs of rising safe-haven demand for gold further reinforce UOB’s bullish outlook, with the bank maintaining its forecast for gold prices to hit $3,000 an ounce by the end of 2025.

Jesse Colombo, an independent precious metals analyst, said the recent rally shows that gold has a lot of potential. He forecasts gold prices will close firmly above $2,900 an ounce, with the next target being $3,000 an ounce.

On Kitco, a representative of Phoenix Futures and Options even said that gold could reach the $3,000/ounce mark in the first quarter as demand for physical gold is increasing as the world faces many uncertainties from tariff policies.

Forexlive representative also said that there is currently a lack of strong enough factors to reduce the increase in gold.

If the global trade war intensifies and central banks continue to buy gold heavily, gold is forecast to reach the $3,200/ounce mark.

Alex Kuptsikevich, analyst at FxPro, said the gold rally has just begun and the target of $3,000/ounce is the beginning.

The global rally begins in October 2023 when the Fed signals monetary policy easing. After rising 55% to $2,790/ounce, gold falls to $2,550/ounce due to profit-taking. From late December 2024, gold prices recover, surpassing $2,800/ounce by late January 2025 and could reach $3,400/ounce between August and October 2025 if the trend continues.