Update SJC gold price
As of 5:00 p.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND83.5-85 million/tael (buy - sell), an increase of VND1.3 million/tael for buying and VND800,000/tael for selling compared to the closing price of yesterday afternoon's trading session.
The difference between buying and selling price of SJC gold at Saigon Jewelry Company is at 2 million VND/tael.
Meanwhile, DOJI Group listed the price of SJC gold at 83.5-85 million VND/tael (buy - sell), an increase of 1.3 million VND/tael for buying and 800,000 VND/tael for selling compared to the closing price of yesterday afternoon's trading session.
The difference between buying and selling price of SJC gold at DOJI Group is at 2 million VND/tael.
Bao Tin Minh Chau listed SJC gold price at 83.5-85 million VND/tael (buy - sell), an increase of 1.3 million VND/tael for buying and 800,000 VND/tael for selling compared to the closing price of yesterday afternoon's trading session.
The difference between buying and selling price of SJC gold at Bao Tin Minh Chau is at 2 million VND/tael.
Price of round gold ring 9999
As of 7:30 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 84-85 million VND/tael (buy - sell); an increase of 700,000 VND/tael for buying and 800,000 VND/tael for selling compared to the closing price of yesterday afternoon's trading session.
Bao Tin Minh Chau listed the price of gold rings at 82.6-84.2 million VND/tael (buy - sell), an increase of 1.3 million VND/tael for buying and 800,000 VND/tael for selling compared to the closing price of yesterday afternoon's trading session.
World gold price
As of 5:00 p.m., the world gold price listed on Kitco was at 2,633.9 USD/ounce, up 9.7 USD/ounce compared to the same time of the previous session.
Gold Price Forecast
World gold prices increased in the context of the USD index not having much change. Recorded at 5:00 p.m. on January 2, the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 108.280 points (down 0.01%).
With gold trading in a narrow range, Kyle Rodda, a financial market analyst at Capital.com, said the market is preparing for a breakout. According to Rodda, the breakout trend is likely to be bullish, with long-term support factors forecast to boost gold prices in 2025.
Mr. Rodda predicts that gold prices will maintain an upward trend in 2025 due to rising geopolitical risks and a growing government debt burden. In the context of the global economy facing many uncertainties, gold continues to be a safe investment channel, attracting the attention of investors.
However, he also stressed that the market is not completely immune to challenges. One of them is the possibility that the US Federal Reserve (FED) may cut interest rates more slowly than expected. At the same time, a stronger USD is also a factor that can put pressure on gold prices.
Markets are turning their attention to key US economic data due next week, which will play a key role in shaping the Fed’s interest rate outlook for 2025. President-elect Donald Trump’s tariff policies are also being closely watched, given their potential to have a major impact on the global economy.
Traders expect the Fed to remain cautious and slow in cutting rates in 2025, as inflation remains above the agency's 2% target. The probability of a rate cut in January is just 11.2%, according to the CME's FedWatch Tool.
Although gold is considered a safe haven asset in times of uncertainty, a high interest rate environment tends to put pressure on the precious metal. Higher interest rates increase the opportunity cost of holding gold, while boosting the attractiveness of the US dollar. Therefore, the Fed's interest rate movements will continue to be an important factor influencing the gold price outlook next year.
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