Update SJC gold price
As of 6:00 a.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 1.5 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 prices of SJC gold at DOJI Group is at 1.5 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 1.5 million VND/tael.
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 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
Gold prices rose sharply last night, but are showing signs of cooling down this morning. As of 1:00 a.m. on January 3 (Vietnam time), the world gold price listed on Kitco was at $2,656/ounce, up $31.8/ounce compared to early this morning.
Gold Price Forecast
The USD - a counterweight to gold - is recording a strong increase. Recorded at 1:00 a.m. on January 3, the US Dollar Index, which measures the greenback's fluctuations against 6 major currencies, was at 109,110 points (up 0.75%).
Gold prices hit a more than two-week high, with technical chart buying gaining traction as both metals’ short-term technical signals have improved recently. Also providing buying support on the first trading day of 2025 was a rally in crude oil. February gold futures rose $30 to $2,671 an ounce, while March silver futures rose $0.738 to $29.975 an ounce.
Despite the strong USD, the fact that gold and silver are still rising is particularly impressive, suggesting that the usual relationship between the USD and these two precious metals is not strong and may continue to be so.
Gold prices were under some pressure early this morning following better-than-expected labor market data, as the number of Americans filing new unemployment claims fell sharply, significantly lower than economists had forecast.
Initial claims for state unemployment benefits fell to a seasonally adjusted 211,000 for the week ended Dec. 28, the Labor Department said Thursday. That was below forecasts, with consensus estimates calling for 224,000. The previous week’s figure was unchanged at 219,000.
The four-week average of new claims for unemployment benefits — a more stable measure of the labor market because it strips out week-to-week fluctuations — was 223,250. That was down from the previous week’s average, which was revised up to 226,750.
Meanwhile, the number of people receiving continuing unemployment benefits, which represents the total number of people still receiving assistance, was 1.844 million in the week ended December 21. This was lower than the forecast of 1.890 million and also down from the unchanged figure of 1.910 million the previous week.
Better-than-expected labor data showed the U.S. labor market remains strong, easing concerns about economic weakness. This could make the Federal Reserve more cautious about cutting interest rates. Higher interest rates increase the opportunity cost of investing in non-yielding gold, putting downward pressure on prices.
Gold is a safe-haven asset that is often supported by economic risk factors or weakness. When labor data is positive, investors tend to shift money into riskier assets such as stocks, reducing demand for gold.
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