world gold price

Gold price today January 14: World gold increased sharply due to the escalation of conflict in the Middle East

Gold prices hit a one-week high on Friday as conflict in the Middle East escalated, spurring safe-haven buying of gold. Meanwhile, falling US producer price inflation results have also fueled bets that the Federal Reserve could cut interest rates sooner.

Spot gold was up 1% at $2,048.21 an ounce by 2:24 p.m. ET (19:24 GMT), after rising as much as 1.7% earlier in the session.

Bullion was virtually unchanged on the week, but extended its run above $2,000 to nearly a month. US gold futures were up 1.6% at $2,051.60.

The US and UK have launched air strikes across Yemen in retaliation for Houthi forces for attacks on Red Sea shipping by Iranian-backed fighters, as a response to the war in Gaza . Iran condemned the attacks, warning that it would cause “uncertainty and instability” in the region.

A rise in geopolitical risks is pushing gold prices higher, said Bart Melek, head of commodity strategy at TD Securities. its restrictive monetary policy.

Melek added that US producer price index (PPI) data was negative, which was also a significant catalyst for prices.

US producer prices unexpectedly fell in December amid falling costs of goods such as diesel fuel and food, suggesting inflation will continue to decline. However, data on Thursday showed US consumer prices rose more than expected in December.

According to the CME Fedwatch tool, traders see an 80% probability of a rate cut in March, compared with about a 70% probability seen ahead of the PPI report.

Considered a safe haven, gold tends to appreciate in times of uncertainty, while lower interest rates also increase its appeal.

Gold price today January 14: SJC gold increased “dizzily” by 1 million VND/tael

Today’s SJC gold price nationwide continues to be adjusted to increase sharply with the highest increase of 1 million VND to 77 million VND/tael. Currently, a survey on giavang.org at 7:30 a.m. January 14, gold bar prices for brands are listed specifically as follows:

SJC gold price in Hanoi and Da Nang area is listed at 74 million VND/tael purchased and 77.02 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 1 million VND on the selling side, and 500,000 VND on the buying side.

SJC gold bars are currently being purchased by Phu Quy at the price of 73.9 million VND/tael and sold at 76.9 million VND/tael, an increase of 500,000 VND in the buying afternoon and 1.1 million VND in the selling afternoon compared to dawn. via.

Meanwhile, the price of SJC gold bars listed by the PNJ brand is at 72.5 million VND/tael purchased and 75.2 million VND/tael sold, unchanged from yesterday.

Bao Tin Minh Chau also adjusted the buying price by 200,000 VND and the selling price by 150,000 VND to 73.6 million VND/tael and 75.5 million VND/tael, respectively.

The difference between domestic and world gold prices is about over 16 million VND/tael.

Unit: x1000 VND/tael

Gold price today January 11: Gold is “holding its breath” waiting for new US economic data tonight

Gold prices fell on Wednesday as US inflation data prompted investors to shape the Federal Reserve’s outlook for interest rate cuts this year, although the dollar remained weak at lower prices. floor. Gold traded at 2,026 USD/ounce at 7:00 am on January 11.

Bob Haberkorn, senior market strategist at RJO Futures, said the lower-than-expected inflation data would give the Fed more reason to cut interest rates this year, which would send gold prices higher again. next time.”

Traders await the week’s US data points: December consumer price index report on Thursday and December producer price index report on Friday.

In a Reuters poll, economists expected annual inflation at 3.2% in December, but said core inflation could fall to 3.8%, the lowest since mid- 2021.

A report from the New York Federal Reserve revealed that consumers expect inflation to decline, while Fed Governor Michelle Bowman on Monday stated that the US central bank’s monetary policy appeared to be “restrictive enough”.

Yields on 10-year US Treasury bonds increased, reducing the appeal of bullion. Higher interest rates increase opportunity costs, making investing in bullion unprofitable.

“If the market reduces bets on an interest rate cut in March, spot gold will likely return to sub-$2,000 levels in the short term,” said Han Tan, chief market analyst at Exinity Group. . However, bulls will not hesitate to restore spot gold back above that psychologically important mark once the market has a clearer grasp of the Fed’s policy pivot.”

The dollar index (.DXY) fell about 0.2%, making greenback-denominated bullion more affordable for buyers holding other currencies.

Gold price today January 11: Domestic SJC gold is stable

Today’s SJC gold price nationwide remains unchanged at 71.50 – 74.50 million VND/tael (buy – sell). Specifically, SJC gold prices listed at the brands are as follows:

SJC gold price in Hanoi and Da Nang area is listed at 71.5 million VND/tael purchased and 74.52 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.

Phu Quy is buying SJC gold at the price of 71.9 million VND/tael and selling it at 74.55 million VND/tael, an increase of 300,000 VND in the buying afternoon and 150,000 VND in the selling afternoon compared to yesterday morning.

The price of SJC gold bars is listed by the PNJ brand at 72.5 million VND/tael purchased and 75.2 million VND/tael sold, an increase of 500,000 VND in both directions compared to yesterday morning.

Meanwhile, Bao Tin Minh Chau increased the buying price by 300,000 VND and the selling price by 150,000 VND to 71.95 million VND/tael and 74.55 million VND/tael, respectively.

Unit: x1000 VND/tael

Gold price today January 10: World gold entering a down cycle?

World gold rose to about $2,030 an ounce on Tuesday, amid a weakening dollar. Investors are awaiting key US inflation data this week that could offer clues about the Federal Reserve’s next policy moves.

The New York Fed’s latest survey of consumer expectations also showed that short-term US consumer inflation forecasts fell to the lowest level in nearly 3 years in December. Meanwhile, weekly data Previous data showed that the US economy added 216,000 jobs in December, far exceeding forecasts of 170,000, despite tighter financial conditions. Markets are pricing in around a 60% chance the Fed will cut interest rates in March, down from nearly 90% seen a week ago.

According to Arslan Butt, Head of Commodity and Index Analysis at FX Leaders, spot gold is about to bounce off multi-week lows, but the precious metal still faces headwinds from Fed speakers, yields increased and the US dollar was well supported.

“During Tuesday’s Asian trading session, GOLD prices (XAU/USD) showed signs of recovery, escaping nearly three-week lows, fluctuating around the $2,017-2,016 area. This positive change is largely due to a decline in inflation expectations among US consumers, fueling market speculation that the Federal Reserve could begin cutting interest rates as early as March.”

He said that hawkish comments from some Fed officials have complicated the scenario, causing uncertainty about an early rate cut. Citing recent comments from Atlanta Fed President Raphael Bostic and Fed Governor Michelle Bowman, both appeared to oppose the idea of impending cuts.

Butt said these factors support higher Treasury yields, boost the value of the greenback and limit gains in gold prices, while “overall positive sentiment” for European stocks Asia has limited gold’s safe-haven appeal.

Traders are cautiously awaiting the latest US consumer inflation figures released on Thursday. These figures are expected to significantly influence USD price dynamics and subsequently provide fresh directional impetus to gold prices.

Turning to the technical picture, Butt thinks gold is showing “cautious upside, approaching initial resistance at 2046.60, influenced by positive stochastic momentum”, but cautions that “the 50-day EMA continues to exert negative pressure, suggesting the chance of a bearish correction continuing.”

According to Butt, unless there is a breakout above the 2046.60 and 2065.70 levels, spot gold will only trade at support at $2,015.00 and resistance at $2,050.00, with a trend The general direction is price reduction.

Gold price today January 10: Increase 500,000 VND/tael both ways

After a deep decline, the domestic gold price reversed and increased sharply with the highest increase of 500,000 VND/tael. Currently, gold bar prices for brands are listed specifically as follows:

SJC gold price in Hanoi and Da Nang area is listed at 71.5 million VND/tael purchased and 74.52 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 500,000 VND in both directions.

Phu Quy is buying SJC gold at a price of 71.6 million VND/tael and selling it at 74.4 million VND/tael, an increase of 450,000 VND in both directions.

The price of SJC gold bars is listed by the PNJ brand at 72 million VND/tael purchased and 74.7 million VND/tael sold, an increase of 500,000 VND in both directions compared to yesterday morning.

Meanwhile, Bao Tin Minh Chau increased the buying price by 450,000 VND and the selling price by 500,000 VND to 71.65 million VND/tael and 74.4 million VND/tael, respectively.

Unit: x1000 VND/tael

Gold price today January 7: Doubts about the Fed’s policy cause the motivation to increase gold prices to decrease

Friday’s US jobs report revealed that payrolls increased by 216,000 jobs in December. That was much higher than economists’ initial estimate of 170,000 jobs and much higher than with 199,000 jobs added in November. This led to a strong appreciation of the US dollar as well as growth in US Treasury bond yields.

These numbers make market participants skeptical about the Federal Reserve’s ability to cut interest rates and the timing of interest rate cuts this year. The US economy continues to surprise market participants and economists alike. The strong jobs report pushed expectations for a March rate cut measured by FedWatch to about 56%.

Last month’s FOMC meeting released yesterday raised questions and concerns about the timing of interest rate cuts as the minutes revealed discussion about the possibility of raising interest rates if deemed necessary, along with scenarios other potential. According to Gary S. Wagner, an analyst with FXE, this is an overreaction because the minutes record all the conversations, which of course cover many possible scenarios. According to him, investors should only focus on Chairman Powell’s speech at the press conference of the recent FOMC meeting and predictions through the dot chart.

The main highlight will come late next week with the December Consumer Price Index report. According to some economists, inflation data could underpin the Federal Reserve’s move in March. Some economists have pointed out that although consumer prices have eased from their 2022 peak, the Federal Reserve still has work to do to bring inflation down to its 2% target. Overall inflation expectations will remain at around 3%; However, core inflation is expected to remain around 4%, double the central bank’s target. This means that the room for the Fed to not think about cutting interest rates is still very high.

Gold price today January 7: Domestic gold continues to be “unmoved”

At the time of the survey at 7:45 this morning, SJC gold prices nationwide stood still in both directions. SJC gold price is currently trading at 72 and 75 million VND/tael of buying and selling.

In Hanoi and Da Nang areas, SJC gold price is listed at 72 million VND/tael purchased and 75.02 million VND/tael sold. In Ho Chi Minh City, SJC gold is still buying at the same level as in Hanoi and Da Nang areas but selling is 20,000 VND lower.

SJC gold bars are currently being purchased by Phu Quy at the price of 72.2 million VND/tael and sold at 74.8 million VND/tael, an increase of 200,000 VND on the buying side, the selling side remains the same.

At PNJ, SJC gold bar price was listed at 72.5 million VND/tael purchased and 75.2 million VND/tael, remaining stable compared to yesterday’s survey time.

Bao Tin Minh Chau also listed SJC gold at 72.05 million VND/tael and 74.9 million VND/tael for both buying and selling, the same price as at the same time yesterday morning.

The difference between domestic and world gold prices is about over 14 million VND/tael.

Unit: x1000 VND/tael

Gold price today January 5: World gold is “unmoved” waiting for important data on Friday

Gold prices steadied during Thursday’s US trading session as the US dollar index began to stagnate. However, the precious metal’s gains are being limited by falling crude oil prices and rising US Treasury bond yields. Currently world gold is trading at 2,043 USD/ounce.

The gold market is still stuck in the price range above 2,000 USD/ounce; However, one research firm says that gold remains an important hedge against inflation and financial market risks, and that the precious metal will appreciate as the year progresses.

In their 2024 outlook, analysts at BCA Research said they expect gold prices to rise to $2,200 this year. While many gold investors continue to watch the Federal Reserve for signs of easing, analysts at BCA say there are plenty of other factors supporting gold prices to rise in the new year. Currently, the central bank has signaled three potential rate cuts this year, while the CME FedWatch Tool shows markets see the Fed Funds rate falling below 4.00% later this year.

Although inflation is expected to decline, BCA believes it is unlikely to meet the central bank’s 2% target, which would make gold an attractive long-term inflation hedge. At the same time, rising government debt, geopolitical uncertainty and shifting globalization trends are expected to support inflation over the longer term, analysts said.

Analysts also expect geopolitical uncertainty to support gold’s safe-haven appeal through 2024.

The final factor supporting gold prices through 2024 is continued strong central bank demand. BCA has been buying gold since November 2022 and is profiting more than 15% from the trade.

Thursday’s data showed U.S. weekly jobless claims fell more than expected last week and U.S. private employers hired more workers than expected in December, shows the enduring strength of the labor market.

Traders await the US December jobs report on Friday. Core nonfarm payrolls in the report are expected to increase to 170,000 and that compares with an increase of 199,000 seen in the November report.

Gold price today January 5: SJC gold decreased by 500,000 VND/tael

After days of strong fluctuations, SJC gold prices have shown signs of stability again. At the time of the survey at 6:45 a.m. this morning, the price of SJC gold nationwide decreased by 500,000 VND/tael in both directions. SJC gold price is currently trading at 72 and 75 million VND/tael of buying and selling.

In Hanoi and Da Nang areas, SJC gold price is listed at 72 million VND/tael purchased and 75.02 million VND/tael sold. In Ho Chi Minh City, SJC gold is still buying at the same level as in Hanoi and Da Nang areas but selling is 20,000 VND lower. Thus, compared to yesterday morning, SJC gold price continues to be adjusted down by 500,000 VND in both directions.

SJC gold bars are currently being purchased by Phu Quy at the price of 72 million VND/tael and sold at 74.8 million VND/tael, down 500,000 VND on the buying side, 200,000 VND on the selling side.

At PNJ, SJC gold bar price is listed at 72.5 million VND/tael for buying and 75.2 million VND/tael for selling, down 500,000 VND/tael for buying and 800,000 VND/tael for selling.

Meanwhile, Bao Tin Minh Chau adjusted the buying price by 550,000 VND to 72.05 million VND/tael and kept the selling price unchanged at 74.9 million VND/tael compared to the same time yesterday morning.

The difference between domestic and world gold prices has widened to over 15 million VND/tael.

Unit: x1000 VND/tael

Gold price today January 4: World gold plummeted after the Fed’s latest policy meeting

Gold prices fell about 1% to $2,040 an ounce on Wednesday, heading for the biggest percentage drop in more than three weeks, after the minutes of the US Federal Reserve’s latest policy meeting (Fed) ) does not show certainty about when interest rates will be cut.

Spot gold fell 1%, to a nearly two-week low of 2,037.61 USD/ounce, the largest decline since December 11. US gold futures fell 1.5%, at $2,042.80.

According to the minutes of the latest US Federal Reserve FOMC policy meeting, Fed officials appear increasingly confident that inflation is under control, with “upside risks” easing and concerns growing. Increasingly, “overly restrictive” monetary policy can damage the economy.

The message coming out of the Fed’s December meeting minutes is “Hold your hours” – even though we’ve seen highs, said Tai Wong, an independent metals trader based in New York. over the cycle but rate cuts will take longer, especially as financial conditions loosen and uncertainty is high.

The minutes said that many participants in the meeting expressed “uncertainty” about the prospect of cutting interest rates, and many even believed that the Fed still had the ability to raise interest rates further.

Investors are now predicting a 70% chance the Fed will cut interest rates starting at its March meeting, while balanced economists think it will delay until closer to mid-year. Lower interest rates reduce the opportunity cost of holding non-yielding gold.

The dollar index rose 0.3%, making gold more expensive for holders of other currencies.

Investors are now eagerly awaiting a series of US economic data this week, including Friday’s nonfarm payrolls report.

Markets are also watching developments in the Middle East after the Israel-Hamas conflict spread to Lebanon with the death of a Hamas deputy leader in Beirut.

“Gold is holding steady as the market still grapples with the prospects surrounding a Fed rate cut this year,” said Han Tan, chief market analyst at Exinity Group. “Spot gold will maintaining a bullish bias as long as the Fed rate cut narrative is likely to remain intact. However, the precious metal could be forced to pare recent gains if the Fed is unable to continue its policy pivot as predictions for 2024.”

Gold price today January 4: Domestic gold increased by 500,000 VND/tael, only one business adjusted to reduce gold price

Despite the government’s instructions to stabilize the domestic gold market, SJC gold still increased strongly yesterday. There was a time when SJC gold increased by 1 million VND/tael in both directions to 73 and 76 million VND/tael for buying and selling. Then it decreased to 72.5 and 75.5 million VND/buy and sell volume. At the time of the survey at 6:45 a.m. this morning, SJC gold prices nationwide are currently maintaining the same trading level of 72.5 and 75.5 million VND/tael of buying and selling.

In Hanoi and Da Nang areas, SJC gold price is listed at 72.5 million VND/tael purchased and 75.52 million VND/tael sold. In Ho Chi Minh City, SJC gold is still buying at the same level as in Hanoi and Da Nang areas but selling is 20,000 VND lower. Thus, compared to yesterday morning, SJC gold price continues to be adjusted to increase by 500,000 VND in both directions.

SJC gold bars are currently being purchased by Phu Quy at the price of 72.5 million VND/tael and sold at 75 million VND/tael, an increase of 1.5 million VND on the buying side, keeping the selling side unchanged.

At PNJ, SJC gold bar price is listed at 73 million VND/tael purchased and 76 million VND/tael sold, an increase of 500,000 VND in both buying and selling.

Meanwhile, Bao Tin Minh Chau adjusted down 600,000 VND on the buying side to 72.6 million VND/tael and 100,000 VND/tael on the selling side to 74.9 million VND/tael compared to the same time yesterday morning.

The difference between domestic and world gold prices has widened to over 15 million VND/tael.

Unit: x1000 VND/tael

Gold price today January 3: World gold falls as the dollar soars

Gold enters 2024 with pressure from the soaring US dollar. Spot gold was steady at $2,061.59 an ounce on Tuesday at 2:30 p.m. ET (19:30 GMT) after rising as much as 0.8% earlier in the session. US gold futures fell 0.1% to $2,070.30.

At the time of the survey at 6:45 a.m. this morning, January 3, the world gold price was trading at 2,058.9 USD/ounce.

The dollar index (.DXY) rose 0.8% on track for its biggest daily gain since July, supported by a rebound in US bond yields, sending bullion to dollar-denominated prices. become more expensive for overseas buyers. But Daniel Pavilonis, senior market strategist at RJO Futures, said the possibility of an escalation in the Red Sea has kept gold prices supported.

Analysts remain bullish on gold prices thanks to expectations the Federal Reserve will cut interest rates this year and rising concerns about attacks on Red Sea shipping.

Gold prices rose 13% in 2023, marking the first annual gain since 2020, and are forecast to reach a record high in 2024, as lower interest rates reduce the opportunity cost of holding Holding gold bars is not profitable.

Fawad Razaqzada, market analyst at City Index, said that gold prices could increase significantly in 2024 when central banks really start easing their policies, the actual timing and extent of cuts. The interest rate will depend on the data numbers.

This week, market attention is focused on the minutes of the Fed’s final meeting scheduled for Thursday. Data on US job openings and December nonfarm payrolls, both released on Friday, will also be closely watched.

Gold price today January 3: SJC gold increased strongly again

On the first day after the holiday, SJC gold price skyrocketed again to 73 million and 76 million VND/tael for buying and selling, then gradually decreased to 72 and 75 million VND/tael for both buying and selling. The difference between the two directions is still 3 million VND/tael. At the time of the survey at 7:00 a.m. this morning, January 3, SJC gold prices are listed at the following brands:

In Hanoi and Da Nang areas, SJC gold price is listed at 72 million VND/tael purchased and 75.02 million VND/tael sold. In Ho Chi Minh City, SJC gold is still buying at the same level as in Hanoi and Da Nang areas but selling is 20,000 VND lower. Thus, compared to yesterday morning, SJC gold price continues to be adjusted to increase by 1 million VND in both directions.

SJC gold bars are currently being purchased by Phu Quy at the price of 71 million VND/tael and sold at 75 million VND/tael, an increase of 1 million VND in both buying and selling directions.

At PNJ, SJC gold bar price is listed at 72.5 million VND/tael purchased and 75.5 million VND/tael sold, an increase of 2.5 million VND on the buying side and 1.6 million VND on the selling side.

Meanwhile, Bao Tin Minh Chau has adjusted to increase 1.5 million VND on the buying side to 72.6 million VND/tael and 2.5 million VND/tael on the selling side to 75 million VND/tael.

The difference between domestic and world gold prices has widened to over 14 million VND/tael.

Unit: x1000 VND/tael

World gold price 2/1: World gold is stable during the holiday season

World gold ends 2023 with a price of 2,062.6 USD/ounce, an increase of 13% during the year. At the time of the survey at 7:00 a.m. this morning, January 2, the world gold price was trading at 2,064.4 USD/ounce, up 1.8 USD/ounce, equivalent to 0.09% on the day, up 13.15%. after 1 year. Thai traders MTS Gold said gold prices are expected to reach a new high of $2,300 an ounce in 2024 amid unfavorable global economic conditions. Kritcharat Hiranyasiri, president of MTS Gold, said that as interest rates fall and the dollar weakens, there will be an opportunity for gold, considered a safe-haven asset, to soar in 2024. He said: ” The dollar lost value as the market expected the interest rate hike cycle to end and some central banks around the world were waiting for the right time to cut interest rates. Now is the time for investors to return “speculating on gold prices”.

Geopolitical conflicts have erupted in many regions, Kritcharat said, contributing to the recent surge in gold prices: “We have to see if the situation will be more tense in 2024, but there is Many opportunities are pushing gold prices higher.” Dr. Kritcharat said the key event that could cause gold prices to increase rapidly is the Federal Reserve starting to cut interest rates. The US central bank recently sent a clear signal of three interest rate cuts this year, from a 22-year high of 5.25%-5.5%.

The political situation in the US can also affect gold price trends. The presidential election in 2024 could prompt policymakers to loosen monetary policies to stimulate the economy and boost stock markets, he said. A reduction in interest rates is possible,” said Dr. Kritcharat. Another factor to watch is US intermediate-term bonds, as many of them are coming due soon. He said this will tighten liquidity in financial markets, becoming a factor supporting gold prices this year. Gold prices rose 13% last year. Dr. Kritcharat said a similar increase in 2024 would bring gold prices to around $2,280 – $2,300 per ounce.

Kritcharat said risk factors that need to be monitored include strong inflation in the US as it will put pressure on keeping interest rates high as well as the US economy. If the US economy remains strong, the US dollar could strengthen, weighing on gold prices. Meanwhile, if war in the Middle East escalates, the price of gold and other safe-haven assets will increase, Dr. Kritcharat said.

Gold price today January 2: Domestic gold moves sideways during the holiday season

After the holiday, SJC gold price remained the same at 71 and 74 million VND/tael of buying and selling. At 7:00 a.m. on January 2, SJC gold prices recorded at the following brands:

In Hanoi and Da Nang areas, SJC gold price is listed at 71 million VND/tael purchased and 74.02 million VND/tael sold. In Ho Chi Minh City, SJC gold is still buying at the same level as in Hanoi and Da Nang areas but selling is 20,000 VND lower.

SJC gold bars are currently being purchased by Phu Quy at the price of 70 million VND/tael and sold at 74 million VND/tael.

At PNJ, SJC gold bar price is listed at 70 million VND/tael purchased and 73.9 million VND/tael sold.

Meanwhile, Bao Tin Minh Chau has adjusted down 400,000 VND on the buying side to 71.1 million VND/tael but decreased 100,000 VND on the selling side to 73.9 million VND/tael.

The difference between domestic and world gold prices has shortened to over 13 million VND/tael.

Unit: x1000 VND/tael