Gold price today February 28, 2025: World and domestic gold prices continue to fall sharply, breaking through the 2900 USD mark

Domestic gold price today February 28, 2025

At the time of survey at 4:30 a.m. on February 28, 2025, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold today at 88.9 million VND/tael for buying and 91.2 million VND/tael for selling. Today's gold price decreased by 100 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 90.6-91.5 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 the enterprise at 89.2-91.2 million VND/tael (buying - selling, down 100 thousand VND/tael in buying - down 100 thousand VND/tael in selling compared to yesterday.

SJC gold price at Phu Quy is traded by businesses at 89.2-91.2 million VND/tael (buy - sell), down 100 thousand VND/tael in buying - down 100 thousand VND/tael in selling compared to yesterday.

The latest gold price list today, February 28, 2025 is as follows:

World gold price today February 28, 2025 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 4:00 am today, Vietnam time, was 2,886.23 USD/ounce. Today's gold price decreased by 24.23 USD/ounce compared to yesterday. Converted according to the USD exchange rate, on the free market (25,770 VND/USD), the world gold price is about 90.66 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 540 thousand VND/tael higher than the international gold price.

Gold prices fell to their lowest in more than a week as the US dollar strengthened. Investors are awaiting key inflation data that could provide clues on the US Federal Reserve's monetary policy.

The U.S. dollar rose 0.2%, pushing the dollar index (.DXY) further away from a recent 11-week low, making gold more expensive for holders of other currencies.

US President Donald Trump has raised hopes of a one-month suspension of high tariffs on imports from Mexico and Canada, while proposing 25% tariffs on cars and goods from Europe.

The uncertainty sent investors flocking to the dollar, putting further pressure on gold prices, which were already under profit-taking pressure after hitting record highs.

Investors are also looking for clues on U.S. monetary policy, with several officials scheduled to speak later in the day and the Personal Consumption Expenditures (PCE) index due on Friday. A Reuters poll forecasts the PCE index will rise 0.3% month-on-month, unchanged from December 2024.

The market expects the Fed to cut rates at least twice this year, with about 55 basis points of cuts predicted by 2025.

Any major change to these expectations could cause gold prices to fluctuate wildly. The combination of geopolitical risks and Trump's tariff tensions could continue to support gold prices.

Silver prices also edged down 0.1% to $31.81 an ounce, while platinum prices edged up 0.8% to $973.65 and palladium prices fell 0.1% to $923.44.

Gold price forecast

If the world gold price returns to the upward trend, the next target for buyers is to break above the important resistance level of $3,000/ounce. Conversely, if the price falls, the sellers will try to push the price below the important support level of $2,850/ounce.

Currently, the nearest resistance is at $2,942/ounce (daily high), followed by $2,974/ounce (record high). Meanwhile, the nearest support is at $2,900/ounce, followed by $2,897/ounce (weekly low).

Adrian Day, chairman of Adrian Day Asset Management, said that gold prices have risen sharply in the past two months, so there may be a slight pullback. However, he said the pullback will be insignificant, as the factors supporting gold are still in place.

Peter Grant, an expert at Zaner Metals, said there are many uncertainties in the market, such as tariffs and trade policies. He believes that if prices fall, this could be a good opportunity to buy gold.

The rally that has brought gold closer to $3,000 an ounce may be slowing as some investors sell to lock in profits, said Frank Watson of Kinesis Money. However, he stressed that central bank actions will have a big impact on gold prices, as they have been major buyers of gold in recent times.

However, in the medium and long term, gold is still considered a commodity with positive prospects because the USD is unlikely to escape the downward trend when the Fed is still in the interest rate reduction cycle. In addition, the possibility of US inflation will increase and the world is still full of instability.

Forecasting the gold price trend, according to David Meger, Director of Metal Trading at High Ridge Futures, the upward trend of the world gold market is still ongoing.

As one of the key hedges against inflationary pressures, gold is likely to gain more ground, Meger added.