Gold price update on the morning of December 14: Massive increase, positive prospects

SJC gold bar price

As of 6:00 a.m., DOJI Group listed the price of SJC gold bars at 154.3-156.3 million VND/tael (buy in - sell out), an increase of 700,000 VND/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.

The price of SJC gold bars was listed by Bao Tin Minh Chau at 154.3-156.3 million VND/tael (buy - sell), an increase of 700,000 VND/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.

Phu Quy Jewelry Group listed the price of SJC gold bars at 153.3-156.3 million VND/tael (buy - sell), an increase of 700,000 VND/tael in both directions. The difference between buying and selling prices is at 3 million VND/tael.

9999 gold ring price

As of 6:00 a.m., DOJI Group listed the price of gold rings at 151.5-154.5 million VND/tael (buy - sell), an increase of 900,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 152.3-155.3 million VND/tael (buy - sell), an increase of 500,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

Phu Quy Gold and Stone Group listed the price of gold rings at 151.5-154.5 million VND/tael (buy - sell), an increase of 800,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

The high buying and selling distance increases the risk for individual investors. Personal investors, especially those with a "surfing" mentality, need to consider carefully before putting money down.

World gold price

The world gold price was listed at 6:00 a.m., at 4,298.7 USD/ounce, up 56.1 USD compared to a day ago.

Gold price forecast

The latest weekly gold survey with Wall Street experts shows many optimistic forecasts for the short-term outlook for gold prices, while individual investors also slightly increased their uptrend rate.

There were 13 Wall Street experts participating in the survey. There are 11 experts, equivalent to 85%, who believe that gold prices will continue to increase next week, while no one predicts that prices will decrease. The remaining two analysts, accounting for 15% of the total, said the precious metal will trade sideways next week.

The online survey with individual investors recorded a total of 237 votes, with the optimistic sentiment of investors on Main Street continuing to improve.

168 individual traders, or 71%, expect gold prices to increase higher next week, while another 27 people, or 11%, predict the precious metal will weaken. The remaining 42 investors, or 18% of the total, see gold prices entering an accumulation phase next week.

Mr. Aaron Hill - main market analyst at FP Markets, predicted that gold prices could fluctuate within a fairly wide range, from 4,250 to 4,380 USD/ounce. According to him, in a thin liquidity environment, just a quiet trading session can cause prices to fluctuate by tens of USD. However, the main trend is still up, as long as gold holds key support levels around $4,255/ounce. With this view, each correction is seen as an opportunity to accumulate rather than a reversal signal.

Meanwhile, Mr. Lukman Otunuga - senior market analyst at FXTM, said that the upward trend of gold is still very solid. According to him, if gold prices break out of the current resistance zone, the market could well head towards higher milestones, even up to $4,400/ounce. Conversely, weakening below the $4,300 mark could trigger short-term corrections to the $4,240 - $4,200/ounce range. However, with the Fed forecasting at least two interest rate cuts next year, buyers are in possession of a solid support foundation.

Not only US monetary policy, the development of the USD and gold purchases by central banks are also considered an important support. The widespread weakness of the greenback is making gold more attractive, while the demand for gold reserves of many countries is expected to maintain a positive trend, extending the increase until 2026.