Gold price today February 14, 2025: World and domestic gold prices increased sharply due to high demand for gold

Domestic gold price today February 14, 2025

At the time of survey at 4:30 a.m. on February 14, 2025, the gold price on the trading floors of some companies was as follows:

The price of 9999 gold today is listed by DOJI at 87.7 million VND/tael for buying and 90.7 million VND/tael for selling. A sharp increase of 1 million VND/tael for buying - 500 thousand 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 88.9-90.4 million VND/tael for buying and selling. Compared to yesterday, the gold price increased by 600 thousand VND/tael for buying and increased by 700 thousand VND/tael for selling compared to yesterday.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 87.7-90.7 million VND/tael (buying - selling, up 1 million VND/tael in buying direction - up 500 thousand VND/tael in selling direction compared to yesterday.

SJC gold price in Phu Quy is traded by businesses at 87.7-90.7 million VND/tael (buy - sell), an increase of 1 million VND/tael in buying price - an increase of 500 thousand VND/tael in selling price compared to yesterday.

The latest gold price list today, February 14, 2025 is as follows:

In recent times, the world gold price has often recorded a higher increase than the domestic gold price. This, along with the high exchange rate, has led to a situation where the world gold price is higher than the domestic gold price. Although this phenomenon has happened before, this time the difference has lasted for several consecutive days and the difference is quite large, causing confusion for investors.

Vietnam imports gold and is subject to taxes and fees, so it is reasonable that domestic gold prices are higher than world prices. Therefore, the phenomenon of world gold prices being higher than domestic prices may only be temporary.

World gold price today February 14, 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 2,914.3 USD/ounce. Today's gold price increased by 21.17 USD compared to yesterday. Converted to the USD exchange rate, on the free market (25,750 VND/USD), the world gold price is about 91.73 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 1.03 million VND/tael lower than the international gold price.

Gold prices rose again on the back of a weaker dollar and concerns about US President Donald Trump’s plans to impose tariffs, which could escalate global trade tensions. Meanwhile, investors are awaiting new inflation data from the US.

Gold prices fell more than 1% yesterday after the US consumer price index (CPI) in January was higher than expected, but later recovered as demand for the precious metal remained steady amid trade war-related uncertainties.

In addition, Mr. Trump tends to pressure the Fed to reduce interest rates. The world gold price remains high in the context of the world still full of instability and bottom-fishing demand appears every time the gold price adjusts deeply. The demand for gold from central banks of countries and gold ETFs is still very high.

President Trump has announced plans to impose tariffs on countries that tax imports from the US, expected to be implemented today or tomorrow.

"Trump is unpredictable, and as long as the market remains uncertain, gold prices will continue to receive support," said Ajay Kedia, director at Kedia Commodities (Mumbai). "Overall, the US dollar index is under pressure, which is good for gold," he added.

The dollar index (.DXY) fell 0.2%, making gold cheaper for foreign investors.

Investors are now focusing on the US Producer Price Index (PPI) data, due at 00:00 tomorrow morning (Vietnam time), along with the retail sales report on Friday, for further clues on the economic situation.

Meanwhile, US Federal Reserve (Fed) Chairman Jerome Powell, in his second congressional hearing this week, once again affirmed that the Fed is in no hurry to cut interest rates.

“The market believes the Fed has little room to ease monetary policy; the market expects a 29 basis point (bps) rate cut this year, with a 78% chance of a 25bp cut in September and a 94% chance of a 25bp cut in October,” said analysts at OCBC.

Gold is often seen as a hedge against inflation and economic uncertainty, but high interest rates could reduce the appeal of the non-yielding asset.

Meanwhile, spot silver prices held steady at $32.24 an ounce, while platinum rose 0.9% to $1,000.94 an ounce and palladium rose 0.9% to $981.95 an ounce.

Gold price forecast

The international gold market is under pressure to sell for profit after a previous sharp increase. This pressure is expected to continue in the short term. Information about the US inflation remaining high will cause the Fed to continue to delay lowering interest rates. This will put pressure on gold. But in the long term, the demand for precious metals is still very large and gold prices may continue to increase.

ANZ Bank predicts gold prices could hit a record high of $3,000 an ounce by 2025.

Investors are also cautious about the tax policies of the Trump administration. Citigroup has just forecast that the price of gold will reach $3,000 in March.

UBS Bank also believes that the precious metal could reach the $3,000 mark by the end of this year, while Goldman Sachs predicts this time will be the second quarter of 2026.

Despite the small sell-off, even a drop of a few hundred dollars from near $3,000 an ounce is not catastrophic, said Daniel Pavilonis, senior market strategist at RJO Futures. He added that people still want to invest in gold with concerns about inflation, debt and geopolitics.

Marex analyst Edward Meir said the tariff war is pushing gold prices up. The precious metal could set multiple records in 2025 and potentially reach $3,250-$3,500 an ounce.