Gold price today December 20: Rising sharply, domestic gold approaching the mark of 75 million VND/tael

Gold price today December 20: World gold continues to increase as the dollar weakens

Gold prices rose to around $2,040 an ounce on Tuesday, hitting their highest level in more than two weeks, amid falling dollar and Treasury yields, as traders continued to bet on views Fed dovish. The Fed’s tightening campaign appears to be over and the regulator is expected to begin lowering interest rates next year. Markets give a nearly 65% chance of a first cut in March. Elsewhere, the Bank of Japan maintained its policy with no forecast, while the Central Bank The European Central Bank and the Bank of England decided to keep interest rates unchanged and have pushed back negotiations on interest rate cuts.

Investor attention now turns to Friday’s US Personal Consumption Expenditures inflation report, which could provide insights into future monetary easing . Overall, the metal is expected to end 2023 with a gain of 12%.

Creating more pressure on the USD, Treasury bond interest rates continue to slide. Currently, 10-year government bonds have an interest rate of 3.90%, the lowest level since the end of July, while 2-year bonds have an interest rate of 4.43%, keeping near the lowest level in multimonth posted last week was 4.28% and was down 2 basis points (bps) on the day.

Analysts expect the US dollar to continue falling next year as the Federal Reserve begins cutting interest rates. But as Mark McCormick, global head of foreign exchange and emerging markets strategy at TD Securities, told Cooban: “A weaker dollar is a rising tide lifting all boats.”

A weaker dollar means there is more money in the economy, which means the gold barge could rise ever higher. Nicky Shiels, head of metals strategy at MKS PAMP, predicts that gold could rise another 10% to $2,200 an ounce next year.

According to a survey by the World Gold Council in May, nearly a quarter of central banks intend to increase their gold reserves next year, with China, Turkey and Russia adding to their gold reserves. replenish their gold reserves. Central banks have owned about one-fifth of all gold mined in human history.

Gold price today December 20: Approaching 75 million VND/tael

Domestic SJC gold price continues to set historical peaks. Surveyed at 7:30 this morning, SJC gold prices nationwide were trading at 73.9 million VND/tael and 74.9 million VND/tael for buying and selling. SJC gold prices are currently traded at the following brands:

SJC gold price in Hanoi and Da Nang is currently listed at 73.9 million VND/tael and 74.92 million VND/tael for buying and selling. Meanwhile, the price of SJC gold in Ho Chi Minh City is being sold at a lower price of 20,000 VND/tael, an increase of 500,000 VND/tael in both buying and selling directions.

Gold price at Saigon SJC VBQ Company listed the buying price at 73.90 million VND/tael; The selling price is 74.90 million VND/tael, an increase of 400,000 VND/tael in both buying and selling directions compared to the opening session on the same day. The difference in buying – selling price of SJC gold remains at 1 million VND/tael.

At the same time, the gold price at DOJI Group is listed at the buying and selling price at 73.85 – 74.90 million VND/tael, an increase of 550,000 VND/tael in both buying and selling directions compared to the opening price. opening session on December 19. The difference between the low buying price and the selling price remains the same at 1.05 million VND/tael.

Phu Quy SJC gold bars are buying at the price of 73.85 million VND/tael and selling at 74.85 million VND/tael, an increase of 400,000 VND in the buying afternoon and 450,000 VND in the selling afternoon compared to yesterday morning. PNJ listed gold bar prices at 74 million VND/tael purchased and 74.9 million VND/tael sold, an increase of 600,000 VND on the buying side and 500,000 VND on the selling side.

Meanwhile, Bao Tin Minh Chau increased by 540,000 VND on the buying side and 600,000 VND on the selling side to 74 million VND/tael and 74.9 million VND/tael, respectively.

Low interest rates and quietness in many markets along with the approaching Tet holiday, limited supply of national brand SJC gold bars… cause demand for this item to increase.

With positive developments in world gold prices on the night of December 19, it is likely that the domestic SJC gold bar price in the December 20 session may continue to set a new high record.

Unit: x1000 VND/tael