Gold price today February 24: Domestic and world gold prices continue to increase to new records

Domestic gold price today 24/2/2025

At the time of survey at 4:30 a.m. on February 24, 2025, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold today at 89.4 million VND/tael for buying and 91.7 million VND/tael for selling. No change in both buying and selling compared to yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 90.7-91.7 million VND/tael for buying and selling. Compared to yesterday, the gold price increased by 300 thousand VND/tael for buying and increased by 100 thousand VND/tael for selling compared to yesterday.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 89.6-91.7 million VND/tael (buying - selling, unchanged in buying direction - unchanged in selling direction compared to yesterday.

SJC gold price in Phu Quy is traded by businesses at 89.6-91.7 million VND/tael (buy - sell), unchanged in both buying and selling directions compared to yesterday.

The latest gold price list today, February 24, 2025 is as follows:

Domestic gold prices recorded a week of high increase following the world's upward trend and this trend is forecast to continue.

Currently, the difference between the buying and selling price of SJC gold at DOJI is up to 2.3 million VND/tael. For 9999 gold rings, the difference at DOJI is 1.7 million VND/tael and at Bao Tin Minh Chau is 1.6 million VND/tael.

This large spread makes it difficult for individual investors to make a profit in short-term trading. When buying, investors immediately suffer a loss equivalent to the spread, and can only make a profit if the gold price increases sharply above this threshold.

World gold price today February 24, 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 2,937.44 USD/ounce. Today's gold price is unchanged compared to yesterday. Converted to the USD exchange rate, on the free market (25,750 VND/USD), the world gold price is about 92.19 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 490 thousand VND/tael lower than the international gold price.

Gold prices rose for an eighth consecutive week, hitting an all-time high amid rising global uncertainty and strong central bank buying. April gold futures settled above $2,950 an ounce.

Gold’s rally has been largely driven by rising safe-haven demand amid concerns over geopolitical tensions and policy uncertainty. Philip Newman, chief executive of precious metals consultancy Metals Focus, said safe-haven demand fueled by concerns over President Donald Trump’s tariff strategy and developments around the Russia-Ukraine conflict have largely supported the recent price gains.

This expert said that market concerns increased after US President Donald Trump made controversial statements about Ukrainian President Volodymyr Zelensky and Russia's war in Ukraine, causing more tension between the US and some European countries.

Recent reports show that large amounts of money are pouring into exchange-traded funds, with 20 tonnes of gold added to the world’s largest gold exchange-traded fund in just three trading days, demonstrating strong investor interest in gold.

On February 7, China allowed 10 major insurance companies, including Ping An, China Life and China Pacific, to invest up to 1% of their assets in gold. This is a way for them to diversify their investment portfolios. According to experts, this decision could inject an additional $27 billion into the gold market, supporting gold prices to rise further.

Investors will be closely watching the results of Germany's parliamentary elections on Sunday. There's also a slew of important economic data from the U.S. this week, including February Consumer Confidence (Tuesday), January New Home Sales (Wednesday), Q4 GDP, January Durable Goods Orders, and Jobless Claims (Thursday).

However, the most anticipated events are the January core PCE index (Friday), the Fed's preferred inflation gauge, along with personal income and spending reports. These data will help assess the interest rate outlook and influence the direction of gold prices.

Gold Price Forecast

Kitco News’ weekly gold survey shows a sharp divide between the opinions of professionals and retail investors. While professionals are cautious, retail investors are more optimistic about the outlook for gold prices.

Specifically, of the 17 experts who participated in the survey, 53% (9 people) predicted that gold prices will increase next week, 24% (4 people) said that prices will decrease, and 23% (4 people) expected prices to remain unchanged. Meanwhile, the 204 individual investors who participated in the online survey were more optimistic, with 71% (144 people) expecting gold prices to increase, 17% (34 people) predicting a decrease, and 13% (26 people) thinking that prices will remain unchanged in the short term.

James Stanley, senior market strategist at Forex.com, does not expect gold to face any major resistance until it reaches $3,000 an ounce. He said $3,000 an ounce has become a psychologically important level and will take time to overcome.

While the gold market appears to be overvalued, Christopher Vecchio, Head of Futures & Forex at Tastylive.com, said he cannot ignore the strong rally backed by solid fundamentals.

Vecchio said that gold's trend is from bottom to top, which means it's only a matter of time before the price of gold hits $3,000 an ounce and higher.

According to Goldman Sachs, demand for gold from central banks could push gold prices up by 9%. Experts also said that if trade tensions continue, gold prices could surpass $3,000/ounce in the next few weeks.

Quoc Duong