Gold price “dazzling” on the first day of the year, the market has a main driving force, still “timidly” waiting for Mr. Trump

1. PNJ – Updated: 01/01/2025 21:00 – Source website time – ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
HCMC – PNJ	83,400	84,200
HCMC – SJC	82,200	84,200
Hanoi – PNJ	83,400	84,200
Hanoi – SJC	82,200	84,200
Da Nang – PNJ	83,400	84,200
Da Nang – SJC	82,200	84,200
Western Region – PNJ	83,400	84,200
Western Region – SJC	82,200	84,200
Jewelry gold price – PNJ	83,400	84,200
Jewelry gold price – SJC	82,200	84,200
Gold jewelry price – Southeast	PNJ	83,400
Jewelry gold price – SJC	82,200	84,200
Jewelry gold price – Jewelry gold price	PNJ 999.9 Plain Ring	83,400
Jewelry gold price – Jewelry gold 999.9	83,400	84,200
Jewelry gold price – 999 jewelry gold	83,320	84,120
Jewelry gold price – 99 jewelry gold	82,460	83,460
Jewelry Gold Price – 916 Gold (22K)	76,230	77,230
Jewelry Gold Price – 750 Gold (18K)	61,900	63,300
Jewelry gold price – 680 gold (16.3K)	56,010	57,410
Jewelry Gold Price – 650 Gold (15.6K)	53,480	54,880
Jewelry Gold Price – 610 Gold (14.6K)	50,110	51,510
Jewelry Gold Price – 585 Gold (14K)	48,010	49,410
Jewelry Gold Price – 416 Gold (10K)	33,780	35,180
Jewelry gold price – 375 gold (9K)	30,330	31,730
Jewelry Gold Price – 333 Gold (8K)	26,540	27,940

Update gold price today 1/2/2025

Domestic gold price of SJC gold bar brand closed 2024 at 82.2 million VND/tael for buying and 84.2 million VND for selling.

Compared to the beginning of the year, SJC gold bars increased by VND10.2 million/tael, equivalent to 13.7%. Gold rings alone increased more strongly, by VND20.8 million/tael, equivalent to 32.3%.

Saigon Jewelry Company – SJC bought gold rings at VND82.2 million and sold at VND84.1 million. Bao Tin Minh Chau Company bought at VND82.2 million and sold at VND84.2 million.

World gold prices broke out in the first session of the New Year, covering the Kitco trading floor in green.

According to the World and Vietnam Newspaper at 7:34 p.m. on January 1, the world gold price on the Kitco exchange increased by 18 USD, at 2,624 - 2,625 USD/ounce.

In 2024, the price of precious metals increased by $560/ounce, equivalent to an increase of 27.2%.

The precious metal has seen an unprecedented rally, peaking in October 2024 when it rose more than 30%, marking its best performance since 1979.

Gold prices are said to be strongly influenced by the US dollar. Many experts believe that the monetary policy of the US Federal Reserve (Fed) is still the main driver of global financial markets, especially gold prices, as the organization tries to balance persistent inflationary pressures and support economic activity.

Expectations for Fed monetary policy have shifted significantly in the last few weeks of 2024. At its final monetary policy meeting of 2024, the Fed said it was likely to cut rates only twice next year, while updated economic projections in September 2024 showed the potential for as many as four rate cuts.

Analysts said that the Fed's change in monetary policy direction towards slower easing is reasonable, when the economy is expected to remain quite stable at least in the first half of the new year.

Most major banks have revised their interest rate expectations. Fixed income analysts at Bank of America agree with the Fed's forecast, which expects only two rate cuts this year.

Gold price today January 2, 2025: Gold price 'dazzles' on the first day of the year, the market has a main driving force, still 'timidly' waiting for Mr. Trump. (Source: Kitco)

Summary of gold prices at major domestic trading brands at closing times of trading session on the afternoon of January 1:

Saigon Jewelry Company SJC: SJC gold bars 82.2 - 84.2 million VND/tael.

DOJI Group: SJC gold bars 82.2 - 84.2 million VND/tael.

PNJ system: SJC gold bars 82.2 - 84.2 million VND/tael.

Phu Quy Gold and Silver Group: SJC gold bars 82.3 - 84.2 million VND/tael.

SJC gold price at Bao Tin Minh Chau is listed at 82.2 - 84.2 million VND/tael.

Optimistic about the gold market in 2025

Chantele Schieven, Head of Research at Capitalight Research, is quite optimistic about the gold market in 2025. She predicts: “Gold prices will trade between $2,500 and $2,700 per ounce in the first half of the year, but are expected to surpass $3,000 in the second half of the year.”

Other experts also assessed that the precious metal will face difficulties as investors continue to focus on the recovery of the US economy. The proposed policies of President-elect Donald Trump will support economic growth in the first half of the year.

Rising geopolitical risks, demand from central banks, loose monetary policies from global central banks and inflows into exchange-traded funds are the key drivers of gold's price rally in 2024, said Aneeka Gupta, director of macroeconomic research at WisdomTree.

“The metal is likely to remain supported into 2025, despite some headwinds from greenback strength and a slower pace of Fed easing,” he stressed.

Speculators could have another good year, said Han Tan, chief market analyst at Exinity Group, if global geopolitical tensions rise under Trump, potentially driving investors toward proven safe havens.

“We expect gold prices to rise to $3,000 an ounce, driven by increased central bank demand and a gradual and cyclical increase in exchange-traded fund holdings, driven by the Fed’s rate cuts,” said Daan Struyven, commodity strategist at Goldman Sachs.

Gold expert Tran Duy Phuong also said that gold prices will increase in the first half of 2025 but not as dramatically as in 2024. Specifically, gold prices next year could increase to a maximum of about 2,850 - 2,900 USD/ounce, making it very difficult to reach the threshold of 3,000 USD/ounce.

In the second half of the year, if the price of gold reverses downward, it will be very difficult for it to fall below $2,500/ounce because the new price level of the precious metal has formed over the past year.

Regarding domestic gold prices, Mr. Tran Duy Phuong affirmed that fluctuations in world gold prices will immediately affect domestic gold prices, but the adjustment pace of domestic gold prices is forecasted to be slower, with a certain delay.

Source: https://baoquocte.vn/gia-vang-hom-nay-212025-gia-vang-choi-loa-ngay-dau-nam-thi-truong-co-dong-luc-chinh-van-ron-ren-cho-ong-trump-299359.html