Gold price this afternoon February 18, 2025: Gold price increased sharply to a sky-high 91 million

Domestic gold price this afternoon February 18, 2025

As of 2:30 p.m. this afternoon, February 18, 2025, domestic gold shops increased sharply in both buying and selling directions.

At Saigon Jewelry Company (SJC), the price of gold bars was listed at VND88.6 million/tael (buy) and VND91.1 million/tael (sell). A sharp increase of VND1 million/tael in the buying direction - an increase of VND500,000/tael in the selling direction compared to the closing price of yesterday's trading session.

DOJI system listed SJC gold at buying price of 88.6 million VND/tael and selling price of 91.1 million VND/tael. This price increased sharply by 1 million VND/tael for buying - increased by 500 thousand VND/tael for selling compared to yesterday.

At Mi Hong Jewelry Company, the buying price of SJC gold is 89.5 million VND/tael and the selling price is 90.5 million VND/tael. Thus, compared to yesterday's session, the buying price increased by 500 thousand VND/tael and the selling price increased by 100 thousand VND/tael.

Bao Tin Minh Chau Company Limited listed the price of SJC gold at 88.6 million VND/tael (buy) and 91.1 million VND/tael (sell). This price increased sharply by 1 million VND/tael for buying - increased by 500 thousand VND/tael for selling compared to yesterday.

The current buying price of SJC 9999 gold rings is 88.6 million VND/tael and the selling price is 90.9 million VND/tael. A sharp increase of 1 million VND/tael in buying price - an increase of 500 thousand VND/tael in selling price compared to the end of yesterday's trading session.

For Hung Thinh Vuong 9999 gold ring (DOJI), the buying price increased sharply to 89.7 million VND/tael and the selling price increased sharply to 91.1 million VND/tael, an increase of 600 thousand VND/tael in buying - an increase of 500 thousand VND/tael in selling compared to yesterday.

PSG-TS Nguyen Huu Huan (Ho Chi Minh City University of Economics) commented that in 2025, the world gold price will depend on the geopolitical situation. If the war in Ukraine remains tense, the gold price will continue to be pushed up. With President Donald Trump's tax policy..., the world gold price will increase. In particular, US inflation will increase, pushing the USD value down, the gold price will increase to 3,000 USD/ounce.

But whether the domestic gold price will follow the same trend as the world gold price is still difficult to determine. According to PSG-TS Huan, this depends on the investment strategy of investors and their expected profits. For a long time, the domestic gold price has always been higher than the international gold price by several million to several tens of million VND, and the domestic gold supply and demand are also difficult to balance, especially SJC gold bars.

According to Dr. Nguyen Tri Hieu, a finance and banking expert, buying domestic gold at this time is quite risky because the domestic market is not connected internationally. Therefore, investing in gold needs to be carefully considered, and one should not 'put all eggs in one basket', because many people have 'lost their money' because of gold in the past.

World gold price this afternoon February 18, 2025

As of 2:30 p.m. on February 18 (Vietnam time), the world spot gold price was at $2,911.37/ounce, up $10.01/ounce compared to last night. The gold futures price for April 2025 on the Comex New York floor was at $2,905/ounce.

Global gold prices continued to rise as uncertainties surrounding US President Donald Trump’s tax plans continued to weigh on market sentiment. Demand for safe-haven assets such as gold increased amid concerns about a global trade war.

'We are seeing central banks buying gold in large amounts,' said Kyle Rodda, financial markets analyst at Capital.com. 'At the same time, there are concerns about a shortage of gold in Europe as people are rushing to buy gold from the US to avoid potential tariffs. I think the uptrend in gold will continue because the fundamentals are very positive.'

Since taking office, President Trump has imposed a 10% tariff on imports from China, announced and delayed a 25% tariff on goods from Mexico and non-energy goods from Canada. He has also scheduled a 25% tariff on imported steel and aluminum, and plans to impose tariffs on all countries that tax U.S. goods.

Michelle Bowman, a member of the US Federal Reserve Board of Governors, said she wants to see more evidence of falling inflation this year before the Fed cuts interest rates again, especially amid uncertainty around new trade policies. Gold is considered a traditional hedge against inflation and economic uncertainty.

Two other Fed officials are scheduled to speak later in the day to provide more insight into the direction of monetary policy.

Meanwhile,Goldman Sachsraised its forecast for gold prices by the end of 2025 to $3,100 an ounce, from $2,890 previously, due to increased demand for gold from central banks.

On the same day, European leaders meeting in Paris called for increased spending to improve the continent's defense capabilities, but remained divided over the deployment of peacekeeping forces in Ukraine.

Besides gold, spot silver prices fell 1.5% to $32.30 an ounce, while platinum rose 0.7% to $981.86 an ounce and palladium prices rose 1.3% to $974.75 an ounce.

Quoc Duong