Gold price today January 21, 2025: Gold price increased after the US presidential inauguration

At the time of survey at 4:30 a.m. on January 21, 2025, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold today at 84.9 million VND/tael for buying and 86.9 million VND/tael for selling. Both buying and selling prices remain unchanged compared to yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 85.5-86.5 million VND/tael for buying and selling. Compared to yesterday, the gold price remained unchanged in both buying and selling directions.

SJC gold price at Bao Tin Minh Chau Company Limited was traded by businesses at 84.9-86.9 million VND/tael (buying - selling), unchanged in both buying and selling directions compared to yesterday.

SJC gold price at PNJ is traded by businesses at 84.9-86.9 million VND/tael (buying - selling), unchanged in both buying and selling directions compared to yesterday.

The latest gold price list today, January 21, 2025 is as follows:

World gold price today January 21, 2025 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 5:00 am today, Vietnam time, was 2,709.95 USD/ounce. Today's gold price increased by 7.77 USD/ounce compared to yesterday. Converted according to the USD exchange rate, on the free market (25,650 VND/USD), the world gold price is about 84.73 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 2.17 million VND/tael higher than the international gold price.

World gold prices rose slightly due to the weakening of the US dollar, following Donald Trump's inaugural speech. The speech clarified more about Mr. Trump's policies, especially the impacts on inflation and the interest rate decisions of the US Federal Reserve (Fed).

The US Dollar Index (DXY) starts this crucial week on a weak note, as Mr. Trump returns to the White House and will officiallytake officeat noon ET (17:00 GMT). As the dollar weakens, gold becomes more attractive to foreign investors.

“If President Trump takes a more dovish tone on trade and tariff policy, this could ease inflation concerns. The US dollar and Treasury yields could then fall, and gold could be one of the assets that would benefit from this situation,” said Tim Waterer, market analyst at KCM Trade.

Gold is often seen as a hedge against inflation, but higher interest rates have diminished its appeal. Mr Trump's broad tariff policies are expected to increase inflation, which could make gold a safer haven for investors.

Goldman Sachs said: "Gold is a financial asset and is unlikely to be subject to widespread tariffs. We forecast only a 10% chance of gold being subject to an effective 10% tariff over the next 12 months."

The bank also raised its forecast for gold demand from central banks, but kept its long-term gold price forecast at $3,000 an ounce by mid-2026, due to expectations that the Fed will cut interest rates less in 2025.

According to a Reuters survey, most economists believe the Fed will keep interest rates unchanged on January 29 and begin cutting again in March.

Meanwhile, silver prices rose 0.2% to $30.39 an ounce, palladium rose 0.2% to $949.05. Platinum prices fell 0.4% to $938.93.

Gold price forecast

With the unpredictability of policies and stances to increase the value of the USD, on Kitco, experts predict that the price of gold will quickly exceed the threshold of 2,800 USD/ounce (87 million VND/tael) if Mr. Trump fulfills many of his campaign commitments, including imposing high taxes on imported goods from China.

“In the short term, I see $2,725 as a key resistance level that may be difficult to overcome until we get a clearer picture of Trump’s policies and their impact on the dollar, yields and confidence in upcoming rate cuts,” said Ole Hansen, head of commodity strategy at Saxo Bank. “I will be watching the tariff and spending news, as these are important factors for economic growth and the debt situation.”

Mr. Han Tan, analyst at Exinity Group, said that gold prices are still supported as the market still expects the Federal Reserve (Fed) to cut interest rates in 2025.

The market is expecting the Fed to cut interest rates by about 37 basis points by the end of this year, compared with about 31 basis points before the inflation data.

Gold hit a new record high against major currencies such as the euro, pound, yuan, Canadian dollar and Australian dollar last week, showing that gold is being viewed as a safe haven asset with sustainable value in the global market, said independent analyst Jesse Colombo.

Gold's resistance remains at $3,000 an ounce as many analysts forecast the precious metal will hit that target in the second half of the year, he noted.

“Gold has been on a break for the past two months, but there is a lot of pent-up energy in the market right now, and the potential for gold is huge,” he said. In the short term, gold prices could rise above $2,800 an ounce.