Gold price today 02/04/2025: Reached all-time high

Gold price today 02/04/2025: World gold price hits record high as Trump’s tariffs spur safe-haven buying

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

The price of SJC gold bars was simultaneously pushed up to the highest level of the year by SJC, PNJ, and DOJI, when buying at 87.8 million VND/tael and selling at 89.8 million VND/tael, a total increase of 1 million VND per tael compared to yesterday.

Of which, the price of 9999 gold today was listed by DOJI at 87.8 million VND/tael for buying and 89.8 million VND/tael for selling, an increase of 900,000 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 the survey listed the price of SJC gold 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.

The SJC gold price at Bao Tin Minh Chau Company Limited was traded by businesses at 87.8-89.8 million VND/tael (buying – selling), an increase of 900,000 VND/tael for both buying and selling compared to yesterday.

The SJC gold price at Phu Quy was traded by businesses at 87.8-89.8 million VND/tael (buying – selling), an increase of 1.4 million VND/tael for buying – an increase of 900,000 VND/tael for selling compared to yesterday.

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

World gold price today 02/04/2025 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 4:30 am today, Vietnam time, was at 2,813.07 USD/ounce. Today’s gold price increased by 0.48% compared to yesterday. Converted according to the USD exchange rate on the free market (25,432 VND/USD), the world gold price is about 86.8 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is about 3 million VND/tael higher than the international gold price.

Gold prices hit an all-time high on Monday, supported by safe-haven flows after U.S. President Donald Trump imposed tariffs on Canada, China and Mexico, raising concerns about inflation that would slow economic growth.

Spot gold rose 0.8% to $2,818.99 an ounce by 1:45 p.m. ET (1845 GMT), after hitting a record $2,830.49 earlier in the session.

U.S. gold futures were up 0.8% at $2,857.10.

Despite the usual bearish impact of a strong dollar on the gold market, gold prices rose as safe-haven demand increased amid uncertainty surrounding Trump’s tariffs, said David Meger, director of metals trading at High Ridge Futures.

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

Canada and Mexico have ordered retaliatory measures, while China said it would challenge the tariffs at the World Trade Organization and take unspecified countermeasures. Trump, however, announced a one-month pause on the tariffs on Mexico.

Bart Melek, head of commodity strategy at TD Securities, said the market has yet to fully appreciate the extent of the trade war.

“We haven’t seen a full response from gold, and if this trade war drags on for a long time, it could send gold prices significantly higher in the future,” Melek added.

Gold is often seen as a safe-haven investment during times of economic or geopolitical uncertainty.

JP Morgan said that contagion from negative sentiment in equities could weigh on gold in the near term, but the disruption from tariffs is a bullish factor for bullion in the medium term.

Investors are looking ahead to this week’s US jobs data, the ADP jobs report and the US jobs report to gauge the health of the US economy.

Meanwhile, bullion banks are shipping gold from Asian trading hubs such as Dubai and Hong Kong to the US to benefit from the unusually high premium of US gold futures to spot prices.

Spot silver rose 0.8% to $31.56 an ounce, platinum fell 1.5% to $963.40 and palladium rose 0.5% to $1,012.85.