Gold price today 5.1: Heavy loss of 700,000 VND after one week

SJC gold bar price

At the end of the week's trading session, DOJI Group listed the price of SJC gold at 84-85.5 million VND/tael (buy - sell).

Compared to the closing price of last week's trading session, the price of SJC gold bars at DOJI increased by VND 1.3 million/tael for buying and VND 800,000/tael for selling.

The difference between buying and selling price of SJC gold at DOJI Group is at 1.5 million VND/tael.

Meanwhile, Saigon Jewelry Company listed the price of SJC gold at 84-85.5 million VND/tael (buy - sell).

Compared to the closing price of last week's trading session, the price of SJC gold bars at Saigon Jewelry Company increased by VND 1.3 million/tael for buying and increased by VND 800,000/tael for selling.

The difference between buying and selling price of SJC gold at DOJI Group is at 1.5 million VND/tael.

If you buy SJC gold at DOJI Group on December 29, 2024 and sell it today (January 5, 2025), the investor will lose 700,000 VND/tael. Meanwhile, the person who buys gold at Saigon SJC Jewelry Company will also lose 700,000 VND/tael.

Currently, the difference between the buying and selling price of gold is listed at around 2 million VND/tael. Experts say this difference is very high, causing investors to face the risk of losing money when investing in the short term.

9999 gold ring price

This morning, the price of 9999 Hung Thinh Vuong round gold ring at DOJI was listed at 84.55-85.55 million VND/tael (buy - sell); an increase of 700,000 VND/tael for buying and 850,000 VND/tael for selling compared to the closing price of last week's trading session.

Bao Tin Minh Chau listed the price of gold rings at 84.6-85.7 million VND/tael (buy - sell); an increase of 1.5 million VND/tael for buying and 1 million VND/tael for selling compared to the closing price of last week's trading session.

If buying gold rings in the session of December 29, 2024 and selling in today's session (January 5, 2025), the loss that investors will have to accept when buying at DOJI and Bao Tin Minh Chau is VND 150,000/tael and VND 100,000/tael, respectively.

In recent sessions, the price of gold rings has often fluctuated in the same direction as the world market. Investors can refer to the world market and expert opinions before making investment decisions.

World gold price

At the close of the weekly trading session, the world gold price listed on Kitco was at 2,639.7 USD/ounce, up 17.7 USD/ounce compared to the close of the previous week's trading session.

Gold Price Forecast

World gold prices received support at the end of the week when the USD index decreased. Recorded at 7:00 a.m. on January 5, 2025, the US Dollar Index, which measures the greenback's fluctuations against 6 major currencies, was at 108,800 points (down 0.38%).

Kitco News’ annual gold survey shows strong confidence in the precious metal’s upside potential from retail investors, while major banks and industry experts largely see gold prices holding steady through 2025.

According to Kitco, 457 investors participated in Kitco News’ annual gold survey. The majority predicted the precious metal would set a new record high of trading above $3,000 an ounce by 2025.

266 traders (58%) expect gold to trade above $3,000 an ounce by 2025. Another 103 investors (22%) predict gold prices will fluctuate between $2,800 and $3,000 an ounce by 2025.

Only 30 people, or 7 percent, expect gold to peak in the range of $2,600 to $2,800. The remaining 58 traders, or 13 percent, expect gold prices to fall back to around $2,400 to $2,600 an ounce — levels seen in late summer and early fall 2024.

Despite the downward trend in gold prices, Chantelle Schieven, Head of Research at Capitalight Research, said that the precious metal's price still retains its strength and the recent consolidation is the first major correction the precious metal has experienced in the past year.

"I'm not at all concerned about the volatility that we're seeing. I think this lull is healthy for the market," she said.

At the start of 2024, Schieven was the most bullish analyst among those in the London Bullion Market Association’s (LBMA) annual forecast. She predicted gold would hit $2,400 an ounce this year, and gold has already surpassed that level by nearly $400. Looking ahead, Schieven believes that gold still has plenty of room to rise.