Gold price today December 22: Gold price increased “hot” like never before after US economic data

Gold price today December 22: Less optimistic data from the US economy pushed gold prices up sharply

Spot gold increased more than 1.1% to 2,052.79 USD/ounce at 6:50 a.m. Vietnam time, heading for the best trading session in six sessions. Newly released data showed that annual U.S. gross domestic product grew at a 4.9% pace last quarter, down from a previously reported 5.2% pace, while unemployment claims Weekly unemployment increased slightly.

“Slightly weak GDP data gave gold a boost,” said Tai Wong, an independent metals trader based in New York. The market is yearning for the Fed’s pivot policy.”

According to the CME FedWatch tool, the market expects an 83% chance the Fed will cut interest rates in March, compared with 79% before the data.

The US dollar recorded a decrease of 0.5% and the 10-year Treasury bond yield fluctuated near a 5-month low.

The Fed’s dovish stance has caused markets to price in some rate cuts in 2024. However, some Fed officials have spoken out against impending rate cuts.

Market focus has now shifted to the US core personal consumption expenditures (PCE) report due on Friday December 22.

“Gold will continue to hold above $2,000 and our expectations of easing inflationary pressures will continue to drive the trend,” said David Meger, director of metals trading at High Ridge Futures. sideways of gold”.

Meanwhile, UK inflation fell in November to a more than two-year low, reinforcing the prospect of a global interest rate cutting cycle. Elsewhere, the Bank of Japan maintained an extremely loose monetary policy, and the People’s Bank of China kept its benchmark lending rate unchanged.

Gold price today December 22: SJC gold increased close to 76 million VND/tael

SJC gold price this morning, December 22, continued to set a new record when it approached the mark of 76 million VND/tael sold. SJC gold price nationwide this morning bought at 74.8 million VND/tael and sold at 75.8 million VND/tael. SJC gold prices are currently listed at stores as follows:

SJC gold price in Hanoi and Da Nang area is listed at 74.8 million VND/tael purchased and 75.82 million VND/tael sold. In Ho Chi Minh City, SJC gold is still buying at the same level as in Hanoi and Da Nang but selling is 20,000 VND lower. Thus, compared to yesterday morning, SJC gold price has been adjusted to increase by 200,000 VND in both directions.

DOJI gold price in the Hanoi area is listed at 74.65 million VND/tael purchased and 75.70 million VND/tael sold. In Ho Chi Minh City, this brand’s gold is being bought and sold at 74.75 – 75.75 million VND/tael.

PNJ gold price is buying at 74.90 million VND/tael and selling at 75.80 million VND/tael.

SJC gold price at Bao Tin Minh Chau is listed at: 74.52 – 75.38 million VND/tael. Meanwhile, in Phu Quy, SJC gold traded at 74.6 and 75.7 million VND/tael in buying and selling.

Compared to yesterday’s gold price, SJC gold continued to increase by 200,000 VND/tael in both buying and selling directions. The difference between domestic and world gold prices is about over 15 million VND/tael.

Unit: x1000 VND/tael