Gold price today February 4, 2025: Gold price increased sharply, world gold reached an all-time high

Domestic gold price today 2/4/2025

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

DOJI listed the price of 9999 gold today at 87.8 million VND/tael for buying and 89.8 million VND/tael for selling. A sharp increase of 900 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 88.2-89.8 million VND/tael for buying and selling. Compared to yesterday, the gold price increased sharply by 1.1 million VND/tael for buying - increased sharply by 1.3 million VND/tael for selling compared to yesterday.

SJC gold price at Bao Tin Minh Chau Company Limited was traded by the enterprise at 87.8-89.8 million VND/tael (buying - selling), an increase of 900 thousand VND/tael in both buying and selling directions compared to yesterday.

SJC gold price in Phu Quy is traded by businesses at 87.8-89.8 million VND/tael (buy - sell), a sharp increase of 1.4 million VND/tael for buying - an increase of 900 thousand VND/tael for selling compared to yesterday.

The latest gold price list today, February 4, 2025 is as follows:

According to records, after banks and major gold companies reopened after the Lunar New Year holiday, the gold supply in the market was more abundant and domestic gold prices also established a new price level.

The demand for gold has also increased because many people believe that buying gold brings good luck at the beginning of the year. Most people buy gold rings and gold bars.

World gold price today February 4, 2025 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was 2,829.72 USD/ounce. Today's gold price increased by 30.11 USD compared to yesterday. Converted to the USD exchange rate, on the free market (25,550 VND/USD), the world gold price is about 88.12 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 1.68 million VND/tael higher than the international gold price.

World gold prices rose to an all-time high, thanks to money flowing into safe assets after US President Donald Trump imposed tariffs on Canada, China and Mexico, raising concerns about inflation and affecting economic growth.

“Tariffs could increase inflation and hurt economic growth due to higher costs,” said Phillip Streible, chief strategist at Blue Line Futures.

Trump's 25% tariffs on imports from Canada and Mexico from Tuesday, along with 10% tariffs on Chinese goods, have raised concerns about a trade war that could slow global growth and cause inflation.

Canada and Mexico have ordered retaliation, while China said it would challenge the tariffs at the World Trade Organization and take unspecified countermeasures.

The market is not yet fully convinced of the extent of the trade war, said Bart Melek, head of commodity strategy at TD Securities. “If this trade war drags on, gold could go even higher,” Melek added.

Gold is often considered a safe investment during times of economic or geopolitical uncertainty.

JP Morgan says the stock market downturn could weigh on gold prices in the short term, but disruptive tariffs are a bullish medium-term reason for gold.

Investors are awaiting US employment data this week to gauge the health of the US economy.

Spot silver rose 0.1% to $31.33 an ounce, platinum fell 2.2% to $956.45 an ounce and palladium fell 0.3% to $1,005.25 an ounce.

Not only gold, the USD price also strengthened in the international market. The USD index measuring the strength of the greenback surpassed 109.2 points, up 0.93% compared to the previous session.

Gold Price Forecast

Analysts predict that domestic gold prices will be supported by strong demand on the occasion of God of Wealth Day (January 10).

Gold has just completed a consolidation phase and has broken out to a new record high, said Colin Cieszynski, chief market strategist at SIA Wealth Management.

Technically, it looks like the precious metal is starting a new rally and what's particularly interesting is that gold is showing strength even as the US dollar strengthens, said Colin Cieszynski.

Rich Checkan, chairman and CEO of Asset Strategies International, said that the combination of tariffs from US President Donald Trump, inflation and news of a gold shortage in London will all push gold prices higher.

"The market is very bullish right now. Any factor, no matter how small, can push gold higher, and the next target could be $3,000 an ounce, which is very close," said Daniel Pavilonis, senior commodities broker at RJO Futures.

Gold could surge above $3,000 an ounce next month, according to Chris Vermeulen, founder and chief investment officer at The Technical Traders. Gold is still in an uptrend. He predicts that gold will break out and rise to $3,050 an ounce.

Vermeulen also warned that gold will have a major correction at the right time, possibly this year.