Update SJC gold price
As of 6:30 p.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND82.6-85.1 million/tael (buy - sell); down VND1.2 million/tael in both directions.
The difference between buying and selling price of SJC gold at Saigon Jewelry Company is at 2.5 million VND/tael.
Meanwhile, DOJI Group listed the price of SJC gold at 82.6-85.1 million VND/tael (buy - sell); down 1.2 million VND/tael in both directions.
The difference between buying and selling price of SJC gold at DOJI Group is at 2.5 million VND/tael.
Bao Tin Minh Chau listed SJC gold price at 83.8-86.3 million VND/tael (buy - sell), unchanged.
The difference between buying and selling price of SJC gold at Bao Tin Minh Chau is at 2.5 million VND/tael.
9999 round gold ring price
As of 7:00 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 83.6-84.6 million VND/tael (buy - sell); an increase of 100,000 VND/tael for buying and unchanged for selling compared to the close of the previous trading session.
Bao Tin Minh Chau listed the price of gold rings at 83.63-85.08 million VND/tael (buy - sell), keeping the buying price unchanged and decreasing 300,000 VND/tael for selling price compared to the closing price of yesterday's trading session.
World gold price
As of 6:15 p.m., the world gold price listed on Kitco was at 2,662.7 USD/ounce, up 14.1 USD/ounce compared to the close of the previous trading session.
Gold Price Forecast
World gold prices recovered as the USD index tended to move sideways. Recorded at 6:35 p.m. on December 16, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 106.690 points (up 0.01%).
According to Yeap Jun Rong, a market strategist at IG Group, the market had expected the Fed to cut interest rates by 25 basis points this week. However, the focus was on whether this was a prudent move, given high inflation, a resilient US economy, and uncertainties from President-elect Donald Trump's policies.
Investors are almost certain that the Fed will cut interest rates by 0.25 percentage points at its meeting on December 17-18. However, according to CME FedWatch, only 18% expect the Fed to continue cutting interest rates in January 2025.
Citigroup (one of the world's largest financial and banking groups, headquartered in the US) forecasts that demand for gold and silver will remain strong until US and global growth bottoms out. Prices for the two metals could peak in the fourth quarter of 2025 or the first quarter of 2026 when US interest rates return to neutral levels.
Gold prices have twice failed to break above the key resistance level of $2,720 an ounce in the past month, according to Mr. Yeap.
Kitco News’ weekly gold survey found sentiment was evenly split between bullish and bearish. Of the 14 experts surveyed, 29% said they expected prices to rise, 43% said they expected prices to trade sideways, and 29% said they expected prices to fall.
Meanwhile, 144 retail investors participated in the online survey, with 87 expecting prices to rise, 24 predicting prices to fall, and 33 expecting prices to move sideways. Retail investor sentiment remained unchanged from last week.
In the market, silver price remained at 30.59 USD/ounce, platinum decreased 0.5% to 920.20 USD/ounce, and palladium increased slightly by 0.2% to 954.25 USD/ounce.
See more news related to gold prices HERE...
