While world gold is still hovering around the 2,053 USD/ounce mark, the domestic SJC gold price has increased at a “breakneck” speed. Recorded at 2:50 p.m. this afternoon, December 25, the national SJC gold price increased to 77 million VND/tael purchased and 78 million VND/tael sold.
In Hanoi and Da Nang, SJC gold price traded at the same buying level, but selling price was 20,000 VND/tael higher. The distance between the two buying and selling directions is 1 million VND/tael.
At PNJ, SJC gold price is anchored at 76.9 million VND/tael for buying and selling at 77.9 million VND/tael.
SJC gold bars at Bao Tin Minh Chau are being bought at the lowest price of 76.45 million VND/tael, sold at 77.4 million VND/tael.
In Phu Quy, SJC gold price is listed at 76.8 million and 78 million VND/tael in both buying and selling directions.
Gold price increased “shockingly” exceeding 78 million VND/tael.
Gold prices have skyrocketed in recent days due to many reasons. Associate Professor, Dr. Dinh Trong Thinh, an economic expert, said that in recent times, interest rates have continuously decreased, making investment difficult. Therefore, cash flow tends to flow to precious metals. The mentality of “buying gold to keep its price” makes many people prioritize gold. In addition, because the end of the year is approaching, the need to buy gold jewelry for weddings and engagements has increased, which has also stimulated the price of gold to increase.
Forecasting gold prices in the near future, experts believe that gold prices may continue to increase in the short term. The slow increase in the price index that the US Federal Reserve (Fed) prioritizes tracking once again increases the possibility of the Fed lowering interest rates in early 2024. This is a factor supporting gold prices. “The Fed’s acknowledgment of continued subdued inflationary pressures has increased expectations for rate cuts, driving up bond yields and the dollar,” said David Meger, director of metals trading at High Ridge Commodities Trading Company. plummeted, leading to an increase in the price of gold and silver.”
Sharing this view, independent metals trader Tai Wong in New York said that precious metals, including gold, are receiving support from the possibility of interest rates decreasing in March 2024 and reducing the total plus 150 basis points next year.
Daniel Pavilonis, senior market strategist at RJO Futures, forecasts that gold prices will stabilize above $2,000/ounce due to the impact of geopolitical risks around the world, including the US election. come here.
Atlanta Fed President Raphael Bostic expressed the opinion that the US economy is still strong and there is no need to rush into a decision to cut interest rates. According to the FedWatch tool, markets are pricing in about an 80% chance that the Fed will cut interest rates in March.
Unit: x1000 VND/tael
| Area | System | Buy into | Sold out |
|---|---|---|---|
| City. Ho Chi Minh | SJC | 77.000 | 78.000 |
| PNJ | 76.900 | 77.900 | |
| Mi Hong | 76.900 | 77.800 | |
| Hanoi | SJC | 77.000 | 78.020 |
| PNJ | 76.900 | 77.900 | |
| Bao Tin Minh Chau | 76.450 | 77.400 | |
| wealth | 76.800 | 78.000 | |
| Danang | SJC | 77.000 | 78.020 |
| PNJ | 76.900 | 77.900 | |
| Nha Trang | SJC | 77.000 | 78.020 |
| Ca Mau | SJC | 77.000 | 78.020 |
| Hue | SJC | 76.970 | 78.020 |
| Bien Hoa | SJC | 77.000 | 78.000 |
| West | SJC | 77.000 | 78.000 |
| Quang Ngai | SJC | 77.000 | 78.000 |
| Bac Lieu | SJC | 77.000 | 78.020 |
| Ha Long | SJC | 76.980 | 78.020 |
| West | PNJ | 76.700 | 77.900 |
| Ben tre | Mi Hong | 76.900 | 77.800 |
| Tien Giang | Mi Hong | 76.900 | 77.800 |
| Updated at 14:40:21 December 25, 2023 | |||
