Gold price today February 21: Domestic and world gold prices skyrocketed to a new peak

Domestic gold price today February 21, 2025

At the time of survey at 4:30 a.m. on February 21, 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 90 million VND/tael for buying and 92.3 million VND/tael for selling. A sharp increase of 400 thousand VND/tael in both buying and selling directions compared to yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 90.3-91.8 million VND/tael for buying and selling. Compared to yesterday, the gold price remained unchanged in both buying and selling compared to yesterday.

SJC gold price at Bao Tin Minh Chau Company Limited was traded by businesses at 90.1-92.3 million VND/tael (buying - selling), a sharp increase of 500 thousand VND/tael in buying - an increase of 400 thousand VND/tael in selling compared to yesterday.

SJC gold price at Phu Quy is traded by businesses at 90.1-92.3 million VND/tael (buy - sell), an increase of 400 thousand VND/tael in both buying and selling directions compared to yesterday.

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

Domestic gold prices have increased for four consecutive days since the beginning of this week. Compared to the peak of 93.1 million VND/tael, the current gold price is only 800 thousand VND away.

The increase in gold prices has surprised many people. When the price of gold exceeded 92 million VND/tael, many people wondered whether they should buy gold now – after it had increased rapidly for many consecutive weeks.

Businesses kept the buying price at around 90 million VND/tael, causing the difference between buying and selling prices to widen to 2.3 million VND/tael in the context of a sharp increase in gold prices.

World gold price today February 21, 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 2,936.31 USD/ounce. Today's gold price increased by 1.05 USD compared to yesterday. Converted to the USD exchange rate, on the free market (25,715 VND/USD), the world gold price is about 92.03 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 270 thousand VND/tael higher than the international gold price.

The world gold price has risen to an all-time high, surpassing the threshold of 2,950 USD/ounce. The main reason is due to concerns about US President Donald Trump's threat to impose trade tariffs, which could lead to a global trade war. This has caused investors to rush to buy gold as a safe investment channel.

Specifically, spot gold increased 0.6% to 2,954 USD/ounce, before decreasing slightly to 2,934.63 USD/ounce in the trading session. This is the 10th time this year that gold prices have set a new record. Meanwhile, gold futures in the US also increased 1.1% to 2,969.30 USD/ounce.

Gold is seen as a safe haven asset in times of uncertainty, and has risen 12% so far this year. Ross Norman, an independent analyst, said: 'The $3,000 an ounce level is very attractive to the market. Although the market is technically overbought, it seems determined to reach this level.'

He added: 'The $2,950/ounce level is seen as the final resistance before gold prices move to challenge the $3,000/ounce mark. Now, the question is not if gold prices will reach this level, but when.'

President Trump has announced that he will impose tariffs on items such as lumber, cars, semiconductors and pharmaceuticals in the next month or sooner. Since taking office on January 20, Trump has imposed a 10% tariff on imports from China and a 25% tariff on steel and aluminum.

In addition, Mr. Trump also criticized Ukrainian President Zelenskiy as a dictator and asked him to act quickly to ensure peace, otherwise he would face the risk of losing his country.

'While there is speculation that peace talks between Ukraine and Russia could send gold prices lower, any weakness in gold prices is likely to be temporary,' said Yeap Jun Rong, market strategist at IG.

Minutes of the US Federal Reserve's most recent policy meeting showed that Mr Trump's initial policy proposals raised concerns about rising inflation, reinforcing the Fed's view that it would pause further rate cuts.

Meanwhile, silver prices rose 1.2% to $33.12 an ounce. Platinum prices rose 0.2% to $974.05 an ounce, while palladium prices rose 1.7% to $984.59 an ounce.

Gold price forecast

Gold prices have surged more than 27% in 2024, the biggest gain since 2010, driven by safe-haven demand, interest-rate cuts and central-bank buying. The rally has continued into 2025, with some analysts predicting prices could surpass $3,000 an ounce this year.

Market forces are pushing gold prices higher than previously forecast, according to Joni Teves of UBS. She sees gold reaching $3,200 an ounce this year before stabilizing at higher levels over the next few years.

Goldman Sachs analysts Lina Thomas and Daan Struyven have a similar view, revising their 2025 gold price forecast to $3,100 an ounce from $2,890 an ounce.

However, this group of experts also noted that if the world economic situation continues to be unstable, especially with unclear tax and trade policies, the gold price could reach 3,300 USD/ounce by the end of this year.

With the new developments, gold prices are expected to increase sharply and soon set new records as the world faces a lot of uncertainty under the Trump presidency. Instability is a strong support factor for gold.

For now, the US is pushing to resolve the Ukraine issue, but that could be followed by cooperation with Russia and later a trade war with China and many other countries. Gold prices are expected to soon set a new record.

Economic and political uncertainty remains supportive for precious metals through 2025, said Julia Khandoshko, CEO at Mind Money.

In addition, Ms. Julia Khandoshko emphasized that, even if inflationary pressures remain high, central banks, led by the Fed, will be forced to cut interest rates when the global economy enters recession. Gold will then remain an important safe haven asset.

In the coming time, domestic gold prices will continue to fluctuate strongly. The impacts from world gold prices will strongly affect the domestic market.