Gold price update on the morning of December 8: Potential risks, consider when investing

SJC gold bar price

As of 6:00 a.m., the price of SJC gold bars was listed by DOJI Group at 152.2-154.2 million VND/tael (buy in - sell out). 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 152.7-154.2 million VND/tael (buy in - sell out). The difference between buying and selling prices is at 1.5 million VND/tael.

Phu Quy Jewelry Group listed the price of SJC gold bars at 151.2-154.2 million VND/tael (buy in - sell out). 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 150-153 million VND/tael (buy in - sell out). The difference between buying and selling is 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 150.5-153.5 million VND/tael (buy in - sell out). The difference between buying and selling is 3 million VND/tael.

Phu Quy Gold and Stone Group listed the price of gold rings at 150-153 million VND/tael (buy in - sell out). The difference between buying and selling prices is at 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 4,197.3 USD/ounce.

Gold price forecast

The global gold market is going through stressful trading sessions as all eyes are on the upcoming interest rate decision of the US Federal Reserve (Fed) on October 12.

After many consecutive months of increase, gold prices are currently fluctuating around 4,240 USD/ounce - a level that is considered sensitive both psychologically and technically. In that context, international analysts have given mixed reviews about the precious metal's short-term outlook, reflecting the strong tug-of-war between expectations of monetary easing and correction risks.

Mr. Adrian Day - Chairman of Adrian Day Asset Management Company - said he will remain cautious until the Fed meeting takes place. According to him, the possibility of the Fed cutting interest rates in the next session is very high, however, this factor has almost been reflected by the market in the current gold price. The risk here is possible disappointment, which could lead to a correction in the short term. Therefore, I maintain the viewpoint unchanged" - Mr. Day emphasized.

This assessment shows that concerns about the scenario of "buying according to expectations, selling when official information is announced" are still covering the market.

On the other hand, Mr. Marc Chandler - CEO of Bannockburn Global Forex was more optimistic when he said that the current accumulation period of gold prices is "building". According to him, gold's sideways move in recent times is necessary to strengthen the increase.

If it breaks above the $4,265/ounce spot price mark, the market could well see a historic re-evaluation of nearly $4,380, Chandler said.

Analyzing more deeply the context of global monetary policy, Mr. Chandler said that gold prices have increased sharply after the Fed cut interest rates on September 17, but entered the accumulation phase after the cut at the end of October. There is almost no doubt that the Fed will continue to cut interest rates on December 10, he said.

Meanwhile, many other major central banks such as the Swiss National Bank (SNB), the Reserve Bank of Australia (RBA) and the Bank of Canada are likely to keep interest rates unchanged. Notably, China is about to release foreign exchange reserve data, and analysts believe that the central bank of this country is continuing to buy gold - a factor that can continue to support gold prices in the medium term.