Editor’s Note
This article reports a decline in gold prices during U.S. trading on February 6, 2026, with a specific drop noted for SJC gold bars.
During trading in the US today, February 6, 2026, gold prices declined. The price of SJC gold bars decreased by 3 million VND/tael to 177.2 million VND/tael.
At 9:30 PM on February 5 (Vietnam time), the spot price of gold on the international market was $4,829 per ounce. Gold futures for February 2026 on the COMEX New York exchange were $4,821 per ounce.
At one point, spot gold prices fell by more than 3%. This decline in gold prices occurred amid a strong recovery in the US dollar, pushing the US dollar index to its highest level in nearly two weeks and reducing the appeal of the precious metal.
The cautious monetary policy stance of major central banks is also affecting market sentiment. The US Federal Reserve is expected to maintain a tight policy on inflation control, while the European Central Bank is likely to keep interest rates unchanged, which will limit new gains in gold prices.
According to the US Department of Labor, after seasonal adjustment, the number of initial unemployment claims for the week ending January 31 reached 231,000, significantly higher than the forecast of 212,000. The previous week’s figure remained unchanged at 209,000.
Marisa Salim, Senior Research Team Leader for the Asia Pacific region at the World Gold Council (WGC), stated that global central banks will maintain gold purchases in 2025 at nearly the same level as the previous year.
Based on data obtained from the International Monetary Fund and other publicly available sources, central banks made a net purchase of 19 tons of gold in December 2025. The total net purchase for the entire year 2025 is estimated to be 328 tons, lower than the 345 tons recorded in 2024.
In December alone, central banks purchased a total of 30 tons of gold bars while selling approximately 11 tons. Throughout the year, the average net purchase was about 27 tons per month.
Throughout the year 2025, Poland’s central bank was the largest net purchaser of gold, adding 102 tons to its national reserves. Other notable buyers included Kazakhstan (57 tons), SOFAZ – Azerbaijan’s State Oil Fund (53 tons), Brazil (43 tons), China (27 tons), and Turkey (27 tons).
In contrast, the countries that sold the most net gold in 2025 were Singapore (26 tons), Ghana (12 tons), and Russia (6 tons).
According to the World Gold Council, the continued net purchases of gold by central banks indicate that the strategic role of this precious metal in national reserves remains very important, even though the pace of purchases has adjusted somewhat when gold prices are high.
If the downward trend in global gold prices does not stop, domestic gold prices will face heavy pressure when trading begins on February 6.
At the close of trading yesterday, February 5, the price of SJC gold bars was listed at 174.2-177.2 million VND/tael (buy-sell), a decrease of 3 million VND/tael in both the buying and selling prices compared to the previous day’s close.
The price of SJC gold rings (1-5 taels) closed at 171.5-174.5 million VND/tael (buy-sell), a decrease of 5.2 million VND/tael in both the buying and selling prices compared to the previous day’s close.
Similarly, the price of 9999 gold rings at Doji decreased by 3.7 million VND/tael in both directions compared to the previous day’s close and was trading at 173-176 million VND/tael (buy – sell).
The price of plain gold rings at Bao Tin Minh Chau also decreased by 3 million VND/tael in both the buying and selling prices compared to the previous day’s close, and the session ended at 174.2-177.2 million VND/tael (buy price – sell price).
Forex market analyst Fawad Razaqzada believes the short-term outlook for gold is not positive. Given the current high level of volatility, it would be premature to say whether the market has reached its bottom.
In addition to technical factors, Mr. Razaqzada believes investors also need to be alert to some fundamental changes. The recent weakening of the US dollar is somewhat excessive, and there is a risk of it strengthening again in the near future.
A strong US dollar typically has a negative impact on precious metals. If this correction is not short-term, it could maintain pressure on gold prices. Furthermore, the US economy is showing better-than-expected resilience, leading the market to reduce the likelihood of significant interest rate cuts.
Technically, Mr. Razaqzada believes the $5,000 per ounce level is significant. Accordingly, resistance is around $5,000 per ounce and further at $5,100 per ounce – these are levels where selling pressure could increase. In contrast, initial support levels are around $4,900 and $4,800 per ounce, although they do not rule out the possibility of the price falling to $4,500 per ounce.