Update SJC gold price
As of 9:30 a.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND82.6-85.1 million/tael (buy - sell); down VND1.2 million/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.
Meanwhile, the price of SJC gold bars listed by DOJI Group is at 82.6-85.1 million VND/tael (buy - sell); down 1.2 million 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.
Bao Tin Minh Chau listed SJC gold price at 83.8-86.3 million VND/tael (buy - sell), unchanged.
The difference between buying and selling price of SJC gold at Bao Tin Minh Chau is at 2.5 million VND/tael.
Currently, the difference between buying and selling gold prices is listed at around 2.5 million VND/tael. Experts say this difference is still very high. The difference between buying and selling prices 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.
9999 round gold ring price
As of 10:30 a.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 83.5-84.6 million VND/tael (buy - sell); both buying and selling prices remain the same compared to early this morning.
Bao Tin Minh Chau listed the price of gold rings at 83.33-85.08 million VND/tael (buy - sell), down 300,000 VND/tael for buying and down 350,000 VND/tael for selling compared to early this morning.
World gold price
As of 9:40 a.m., the world gold price listed on Kitco was at 2,652.7 USD/ounce, up 4.1 USD/ounce compared to the beginning of the previous trading session.
Gold Price Forecast
World gold prices fell as the USD rose. Recorded at 9:40 a.m. on December 16, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 106.570 points (down 0.11%).
Gold investors should prepare for a possible decline in gold prices next week, mainly due to the US Federal Reserve (FED) reducing expectations of interest rate cuts amid persistent inflation, according to Naeem Aslam, investment director at Zaye Capital Markets.
Lukman Otunuga, a market analyst at FXTM, is neutral on gold prices in the short term. According to him, the trend of this precious metal will depend largely on the policy message that Fed officials deliver at the upcoming meeting. Otunuga emphasized that if the Fed continues to maintain a "hawkish" stance, this could limit the upside potential of gold prices as investors gradually narrow their expectations for stronger interest rate cuts in 2025. Conversely, if the Fed signals policy easing in 2024, gold prices could rebound to $2,700/ounce or higher.
Carley Garner, co-founder of brokerage firm DeCarley Trading, is neutral on gold for all of 2024, but says the market is showing signs of weakness. She sees the failure of prices to stabilize above $2,700 an ounce as a notable sign. “At this point, I would look for opportunities to sell when gold prices recover,” Garner said.
This week is going to be an eventful one with lots of important economic data.
On Monday, the market will pay attention to the Empire State manufacturing survey, an indicator of manufacturing activity in New York state, along with the S&P Global Preliminary PMI, a reflection of the US national economic activity released by S&P Global. On Tuesday, the focus will be on US retail sales data.
Wednesday marks the most anticipated event of the week: the Federal Reserve's monetary policy decision. Thursday brings a slew of economic data, including the Bank of England's monetary policy decision, weekly U.S. jobless claims, final third-quarter GDP, the Philly Fed manufacturing survey, and existing home sales.
Closing out the week, Friday will see US personal consumption expenditures (PCE) data, a key inflation gauge closely watched by the Fed.
See more news related to gold prices HERE...
