Update SJC gold price
As of 6:20 p.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND86.8-88.8 million/tael (buy - sell); both buying and selling prices remained unchanged.
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 86.9-88.9 million VND/tael (buy - sell); keeping both buying and selling prices unchanged.
The difference between buying and selling prices of SJC gold at DOJI Group is at 2 million VND/tael.
Bao Tin Minh Chau listed SJC gold price at 86.9-88.9 million VND/tael (buy - sell); increased 100,000 VND/tael for both buying and selling.
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 5:20 p.m. today, the price of round gold rings listed by DOJI Group is at 86.6-88.1 million VND/tael (buy - sell); both buying and selling prices remain unchanged compared to the closing price of yesterday's trading session.
Bao Tin Minh Chau listed the price of gold rings at 86.6-88.9 million VND/tael (buy - sell), keeping the buying price unchanged and increasing the selling price by 100,000 VND/tael compared to the closing price of yesterday's trading session.
According to Lao Dong reporters on January 25, at some gold shops in Hanoi, people's demand for gold has not decreased. Many people choose to line up in front of the door to wait to buy gold.
However, most stores announced that they do not have SJC gold bars and limit the number of 9999 round gold rings sold.
At a gold shop on Tran Nhan Tong Street (Hanoi), Ms. Nguyen Lan Nhi (Hai Ba Trung District, Hanoi) shared: "Many times I came here to queue but could not buy gold rings because the shop did not sell them. Today, I came early, the staff announced that they would only sell 2 taels of gold per person. Currently, there are still many people lining up in front. I am still waiting for my turn to make a transaction."
Mr. Bui Tuan Hoang (Dong Da district, Hanoi) - a customer buying gold rings at a gold shop on Tran Nhan Tong street - said: "For many days now, shops have been announcing that they are temporarily out of SJC gold bars and plain round gold rings, or are only selling in very small quantities.
At the end of the year, I took the opportunity to come here to buy gold rings for savings, but this was very difficult. After several days of continuously coming to the store, today I was only able to buy 2 bars."
Mr. Hoang added that tomorrow he will continue to go to the store to wait to buy more plain round gold rings.
World gold price
As of 5:30 p.m., the world gold price listed on Kitco was at 2,770.8 USD/ounce, down 7.4 USD/ounce compared to the same time in the previous session.
Gold Price Forecast
World gold prices are anchored high amid a decline in the USD index. Recorded at 5:30 p.m. on January 25, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 107.250 points (down 0.57%).
According to Kitco News, gold prices held high even as the Bank of Japan (BOJ) raised interest rates to 0.5%, the highest in 17 years. At the same time, the bank also signaled the possibility of further tightening.
“If the expectations presented in the January outlook report materialize, the BOJ will continue to raise the policy rate and adjust the level of monetary support,” the BOJ said in its monetary policy statement.
Mr. Daniel Pavilonis - senior strategist at futures trading company RJO Futures - predicted that gold prices may pause their increase in the short term to wait for more clear signals from the market.
Meanwhile, Michele Schneider - chief strategist at MarketGauge - shared an optimistic view on gold, emphasizing that tight monetary policies are a sign of a larger problem, which is inflation.
Schneider explained that the world is facing a new inflationary threat, as supply issues have the potential to push up prices for commodities like food and essential metals. For example, recent severe droughts have pushed coffee prices to record levels.
“This is the kind of inflation that central banks really can't solve because it's a supply-demand issue,” she said.
Schneider added that if gold prices break above $2,800 an ounce, they could easily rise to $3,000 an ounce.
See more news related to gold prices HERE...
