Gold price update morning 7.12: Mixed developments

Khương Duy |

Gold price update morning of December 7: While domestic gold price decreased, world gold price reversed and recovered in the weekend trading session.

Update SJC gold price

As of 6:00 a.m., the price of SJC gold bars listed by DOJI Group was at 82.7-85.2 million VND/tael (buy - sell), down 200,000 VND/tael in both directions.

The difference between buying and selling price of SJC gold at DOJI Group is at 2.5 million VND/tael.

Cap nhat gia vang mieng SJC
Update SJC gold bar price.
Dien bien gia vang SJC nhung phien gan day. Bang: Khuong Duy
SJC gold price movements in recent sessions. Table: Khuong Duy

Meanwhile, Saigon Jewelry Company listed the price of SJC gold at 82.7-85.2 million VND/tael (buy - sell), down 200,000 VND/tael in both directions.

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 82.7-85.2 million VND/tael (buy - sell), down 200,000 VND/tael in both directions.

The difference between buying and selling price of SJC gold at Saigon Jewelry Company is at 2.5 million VND/tael.

The difference between buying and selling gold prices is listed at around 2.5 million VND/tael. Although it has decreased compared to the previous trading session, this difference is still very high.

This price difference is a factor that investors need to consider when participating in the gold market. It directly affects the ability to make profits, especially in the short term.

Price of round gold ring 9999

As of 6:00 a.m. today, the price of Hung Thinh Vuong 9999 gold rings at DOJI is listed at 83-84 million VND/tael (buy - sell); down 300,000 VND/tael for both buying and selling compared to early this morning.

Cap nhat gia vang nhan tron tron 9999 thoi gian gan day. Bang: Khuong Duy
Update the price of 9999 plain round gold rings recently. Table: Khuong Duy

Bao Tin Minh Chau listed the price of gold rings at 82.98-84.08 million VND/tael (buy - sell); down 300,000 VND/tael for both buying and selling.

World gold price

As of 0:00 on December 7 (Vietnam time), the world gold price listed on Kitco was at 2,640.26 USD/ounce, up 8.3 USD/ounce compared to the beginning of the previous trading session.

Dien bien gia vang the gioi. Nguon: Kitco
World gold price developments. Source: Kitco

Gold Price Forecast

World gold prices increased despite the increase in the USD index. Recorded at 0:30 on December 7, the US Dollar Index, which measures the fluctuations of the greenback against 6 major currencies, was at 106.044 points (up 0.33%).

Gold prices rose after latest data showed improved US consumer sentiment, while inflation expectations for the next year also rose slightly.

The University of Michigan said Friday that its preliminary survey of consumer sentiment rose to 74 in December, a seven-month high and up from 71.8 in November. The data was better than expected, with economists expecting a reading of 73.

The index’s components were largely positive. “Consumers’ rush to buy durable goods pushed the current economic conditions index up more than 20 percent,” said Joanne Hsu, director of the consumer survey. “However, this is not necessarily a sign of a stronger economy, but rather that consumers think that buying now will help them avoid future price increases.”

According to Kitco - gold prices are in a medium-term correction cycle. However, the long-term price chart and macro factors still support the precious metal.

Gold is currently consolidating in a symmetrical triangle pattern, hovering around the 18-week moving average support at $2,640 an ounce. A break above the $2,750 resistance level could see gold move towards a target of $3,000 an ounce, which would represent the top of a 13-year cup-and-handle pattern. Conversely, a drop below $2,600 an ounce could see gold test the 200-day moving average at $2,450 an ounce.

Geopolitical factors continue to play a key role in supporting gold prices. In Europe, uncertainty is rising as the French government collapses, and Germany - the region's leading economy - is also facing difficulties.

In the Middle East, although Israel and Palestine have agreed to a ceasefire, according to David Erfle - an investor in the mining sector, the tension has not subsided as both sides continue to violate the ceasefire...

See more news related to gold prices HERE...

Khương Duy
TIN LIÊN QUAN

Update on the closing price of gold on December 6: Crowds buying

|

Updated gold price closing session 6.12 continues to decline. Many people lined up to buy 9999 plain round gold rings.

Gold price index in November increased by 2.26% compared to the previous month

|

According to the General Statistics Office, the price index of other goods and services in November 2024 increased by 0.29%. Of which, the gold price index in November increased by 2.26% compared to the previous month.

Gold prices drop sharply, people line up to buy gold rings

|

Today (December 6), domestic gold prices continued to fall sharply. In Hanoi, many people patiently lined up from early morning to buy plain round gold rings.

Investigation into the death of an 8th grade student in the schoolyard in Hai Phong

|

Hai Phong - On the evening of December 11, a representative of the People's Committee of Thuy Nguyen district (Hai Phong) said that the police are investigating the death of an 8th grade female student.

Lam Dong meets to discuss plans to reorganize and streamline the apparatus

|

Lam Dong - The Provincial Party Committee has just held a conference to disseminate and implement the innovation and arrangement of the organization and apparatus according to the Central's plan.

Keeping the Zoo in Ho Chi Minh City Open

|

Ho Chi Minh City - Saigon Zoo and Botanical Garden - childhood memories of many generations. In the face of tax debt difficulties, the Board of Directors here is still determined to maintain the unit's operations.

Live football Cambodia 1-2 Singapore: 2nd half

|

Live match between Cambodia and Singapore in the group stage of ASEAN Cup 2024, taking place at 6:00 p.m. today (December 11).

Disciplinary action against former Director General of General Department of Roads

|

The Central Inspection Committee decided to discipline Mr. Nguyen Van Huyen - former Party Secretary, General Director of the Vietnam Road Administration.

Update on the closing price of gold on December 6: Crowds buying

Khương Duy |

Updated gold price closing session 6.12 continues to decline. Many people lined up to buy 9999 plain round gold rings.

Gold price index in November increased by 2.26% compared to the previous month

Thạch Lam |

According to the General Statistics Office, the price index of other goods and services in November 2024 increased by 0.29%. Of which, the gold price index in November increased by 2.26% compared to the previous month.

Gold prices drop sharply, people line up to buy gold rings

Phương Anh |

Today (December 6), domestic gold prices continued to fall sharply. In Hanoi, many people patiently lined up from early morning to buy plain round gold rings.