Gold price update morning of December 14: Gold ring price drops sharply

Update SJC gold price

As of 6:00 a.m., the price of SJC gold bars was listed by Saigon Jewelry Company at 83.8-86.3 million VND/tael (buy - sell), down 800,000 VND/tael for both buying and selling.

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 83.9-86.4 million VND/tael (buy - sell), down 900,000 VND/tael for both buying and selling.

The difference between buying and selling price of SJC gold at Saigon Jewelry Company 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), down 1 million 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.

The difference between the buying and selling price of gold is listed at around 2.5 million VND/tael. This price difference is a factor that investors need to consider when participating in the gold market. It directly affects the ability to make a profit, especially in the short term.

Price of round gold ring 9999

As of 6:00 a.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 83.8-84.9 million VND/tael (buy - sell); down 1 million VND/tael for both buying and selling compared to the close of the previous trading session.

Bao Tin Minh Chau listed the price of gold rings at 83.83-85.58 million VND/tael (buy - sell); down 630,000 VND/tael for buying and down 580,000 VND/tael for selling.

World gold price

As of 3:00 a.m. on December 14 (Vietnam time), the world gold price listed on Kitco was at 2,652.6 USD/ounce, down 27.8 USD/ounce compared to the opening of the previous trading session.

Gold Price Forecast

World gold prices fell sharply as the USD index increased. Recorded at 3:00 a.m. on December 14, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 106.685 points (up 0.04%).

Naeem Aslam, Chief Investment Officer at Zaye Capital Markets, recommends that gold investors prepare for the possibility of gold prices weakening next week as the Fed adjusts its expectations for interest rate cuts.

“We are going to see a hawkish rate cut given the recent inflation data, which means further downward pressure on gold prices next week,” he said. However, trading volumes may be lower as many traders head off for the holidays.

Meanwhile, Lukman Otunuga, Chief Market Analyst at FXTM, is neutral on gold, saying the precious metal is caught in a tug-of-war. He said that despite the Fed's hawkish stance, gold still maintains strong upward momentum.

“The precious metal is under pressure from rising US Treasury yields ahead of the Fed’s final policy meeting. However, the weekly trend remains solid with a gain of nearly 30% year-to-date.

While the Fed is expected to cut interest rates by 25 basis points, the focus remains on the message and future policy signals. A hawkish rate cut could limit the upside potential for gold prices, but if the Fed leaves the door open to further easing next year, the precious metal could rally back to $2,700 or higher," he said.