The price of gold on Kitco at 9:00 p.m. (March 20, Vietnam time) was trading at USD 1,2671.9/ounce, up 0.26% from the start of the session. The futures price of gold for delivery on April 2 on the Comex floor in New York is trading at 2025 2,745.5 USD/ounce.
At the start of the trading session on January 20 (US time), the world gold price rose slightly due to cautious sentiment ahead of Donald Trump’s inauguration as the 47th President of the United States. United. Investors hope gold will be a safe haven when political instability arises just after the White House gets a new owner. The decisions of the new president, signed immediately after taking office, will affect the direction of gold in the near future.
Experts say investors are more concerned about policy decisions related to import taxes on goods in the United States, which will contribute to a sharp rise in the dollar, causing gold to lose momentum.
Kevin Grady, president of Phoenix Futures and Options, said gold is supported by many factors. Gold has been supported by demand from investors and central banks in recent times and this will not change. He is optimistic that the target of 3.000 USD/ounce this year is very achievable.
In the short term, Grady noted that it is very difficult to determine the direction of gold prices, as it is highly dependent on Mr. Trump’s tariff policy.
Marc Chandler, CEO of Bannockburn Global Forex, predicts gold prices will hit a new record high in 2025 as the People’s Bank of China continues to buy and falling US interest rates could encourage investors to invest on the gold market.
In the domestic market, at the close of the session on September 20, the price of 1 gold bar at SJC was 9999 million VND/tael (buy) and 84.9 million VND/tael (sell). Doji listed at 84.7 million VND/tael (buy) and 86.7 million VND/tael (sell).
-SJC announced the price of gold rings of types 1 to 5 at only 84.6 to 86.3 million VND/tael (purchase – sale). Doji listed the price of the 9999 gold round ring at 84.4-86 million VND/tael (buy – sell).
Gold Price Prediction
Mr. Michael Langford, Chief Investment Officer at Scorpion Minerals, said increasing uncertainties related to the new administration and new policies make gold an attractive trading channel in the short term. He predicted that the price of gold could reach USD 3.200 per ounce this year.
According to Ross Norman, CEO of Metals Daily, the average spot gold price is $2.888/ounce in 2025, with a high of $3.175/ounce and a low of $2.630/ounce.
Analysts from CPM Group – a leading global commodities research and asset management group – predict the price of gold to reach USD 2.800 per ounce in the near term and advise market participants to buy when prices fall.
Mr. Donald Trump takes office: Gold price set to skyrocket, how is the global economy doing?Gold prices are expected to rise sharply after Donald Trump takes office as President of the United States. Mr. Trump just had a phone call with the Chinese president and offered him a solution to TikTok. The global economy faces many fluctuations due to unpredictable policies.
