Update SJC gold price
As of 7:00 p.m., the price of SJC gold bars was listed by Saigon Jewelry Company at 82.7-84.7 million VND/tael (buy - sell), 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 82.7-84.7 million VND/tael (buy - sell), 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 82.7-84.7 million VND/tael (buy - sell), unchanged.
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 83.85-84.7 million VND/tael (buy - sell); down 50,000 VND/tael for buying and unchanged for selling compared to the close of yesterday's trading session.
Bao Tin Minh Chau listed the price of gold rings at 83.1-84.7 million VND/tael (buy - sell), keeping both selling prices unchanged compared to the closing price of yesterday's trading session.
On December 28, at some gold shops in Hanoi, many people lined up in front of the door to wait to buy gold rings. However, most of the shops announced that they did not have SJC gold bars and 9999 smooth round gold rings.
Ms. Nguyen Linh Ngoc (Ba Dinh District, Hanoi) - a customer who came to buy gold rings at a gold shop on Tran Nhan Tong Street - shared: "This morning, I came to the shop before it opened to wait to buy gold rings. However, there were already a lot of people lining up in front and the staff did not announce when the sale would be held, so I decided to go home."
Ms. Pham Ngoc Han (living in Hai Ba Trung district, Hanoi) also encountered a similar situation when she wanted to buy gold rings.
"Recently, the price of gold has been increasing continuously, so I want to buy some. However, buying gold rings at this time is difficult because you have to come at the right time when the store opens for sale. If you can catch this time, the gold shop has a rule that each person can only buy a limited quantity, depending on the day.
In addition, there are many people coming to buy so they often have to wait in line for a long time. Currently, I am still waiting for the store to announce the sale" - Ms. Han said.
World gold price
As of 7:20 p.m., the world gold price listed on Kitco was at 2,622 USD/ounce, down 6.4 USD/ounce compared to the close of the previous trading session.
Gold Price Forecast
World gold prices fell despite a slight decrease in the USD index. Recorded at 7:20 p.m. on December 28, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 107.790 points (down 0.13%).
Although the market showed signs of slowing down in the second half of the year when the People's Bank of China (PBOC) suspended gold purchases for six months and gold imports dropped sharply, this did not diminish the country's influence in the precious metals market, according to Kitco.
Looking ahead to 2025, a research firm predicts that Chinese gold demand will remain strong, providing important support for gold prices. Weak economic activity and a weaker yuan will boost gold demand in China next year, said Hamad Hussain, assistant climate and commodities economist at Capital Economics.
“We believe the Chinese real estate situation will be a major drag on economic growth and increase safe-haven demand for gold,” he said in a recent research note.
For Chinese consumers, “all roads lead to gold,” Hussain added.
While gold has long been a key asset for Chinese investors and consumers, many analysts say the risk of a demand slowdown is growing as the government looks to support the economy with significant quantitative easing. However, Hussain said China’s stimulus measures have so far been much weaker than expected, which could provide fresh impetus to the gold market.
