LIVE UPDATE TABLE OF GOLD PRICE TODAY 9/1 and EXCHANGE RATE TODAY 9/1
| 1. PNJ - Updated: January 8, 2024 22:30 - Website supply time - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 61,850 ▼150K | 62,950 ▼150K |
| HCMC - SJC | 71,500 ▼1000K | 74,200 ▼1000K |
| Hanoi - PNJ | 61,850 ▼150K | 62,950 ▼150K |
| Hanoi - SJC | 71,500 ▼1000K | 74,200 ▼1000K |
| Da Nang - PNJ | 61,850 ▼150K | 62,950 ▼150K |
| Da Nang - SJC | 71,500 ▼1000K | 74,200 ▼1000K |
| Western Region - PNJ | 61,850 ▼150K | 62,950 ▼150K |
| Western Region - SJC | 71,200 ▼1000K | 74,100 ▼1100K |
| Jewelry gold price - PNJ | 61,850 ▼150K | 62,950 ▼150K |
| Jewelry gold price - SJC | 71,500 ▼1000K | 74,200 ▼1000K |
| Jewelry gold price - Southeast | PNJ | 61,850 ▼150K |
| Jewelry gold price - SJC | 71,500 ▼1000K | 74,200 ▼1000K |
| Jewelry gold price - Jewelry gold price | PNJ Ring (24K) | 61,850 ▼150K |
| Jewelry Gold Price - 24K Jewelry | 61,800 ▼100K | 62,600 ▼100K |
| Jewelry Gold Price - 18K Jewelry | 45,700 ▼80K | 47,100 ▼80K |
| Jewelry Gold Price - 14K Jewelry | 35,370 ▼60K | 36,770 ▼60K |
| Jewelry Gold Price - 10K Jewelry | 24,790 ▼40K | 26,190 ▼40K |
Domestic gold price on the morning of January 8 decreased by 500 thousand VND/tael compared to the closing price last weekend.
Specifically, in the Hanoi market, DOJI Gold and Gemstone Group listed the price of SJC gold at 71.5 - 74.5 million VND/tael (buy - sell), down 500 thousand VND/tael in both buying and selling compared to the closing price of last weekend.
Phu Quy Jewelry Group listed the price of SJC gold at 71.7 - 74.5 million VND/tael (buy - sell), down 500 thousand VND/tael for buying and down 200 thousand VND/tael for selling compared to the closing price last weekend.
Meanwhile, Saigon Jewelry Company listed the price of SJC gold at 71.5 - 74.52 million VND/tael, down 500,000 VND/tael in both buying and selling prices compared to the closing price last weekend.
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| Gold price today January 9, 2024: Gold prices plummeted, SJC buying-selling gap is large, precious metal is still worth investing. (Source: Forbes) |
World gold prices fell in the trading session on January 8, losing more than 10 USD per ounce, reaching the lowest level in three weeks.
According to gulftoday.ae , as of 9:26 a.m. United Arab Emirates (UAE) time on January 8, the price of gold decreased by 0.5% or 10.23 USD to 2,035.39 USD/ounce, after hitting its lowest level since December 2, 2023.
Summary of SJC gold prices at major domestic trading brands at the closing time of January 8:
Saigon Jewelry Company listed the price of SJC gold at 71.0 - 74.0 million VND/tael.
Doji Group currently lists SJC gold price at: 71.0 - 74.0 million VND/tael.
PNJ system listed at: 71.5 - 74.2 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at: 71.20 - 73.90 million VND/tael; Rong Thang Long gold brand is traded at 62.63 - 63.73 million VND/tael; jewelry gold price is traded at 62.25 - 63.45 million VND/tael.
Thus, compared to the morning session of January 8, at the close of trading session on the same afternoon, the price of SJC gold in Hanoi market listed by Saigon Jewelry Company decreased by VND500,000/tael for buying and VND520,000/tael for selling.
According to the World & Vietnam Newspaper, at 7:04 p.m. on January 8, the world gold price on the Kitco exchange was at 2,026.2 USD/ounce, down 19.10 USD/ounce compared to the previous trading session.
Converted according to the USD price at Vietcombank on January 8, 1 USD = 24,515 VND, the world gold price is equivalent to 59.85 million VND/tael, 14.15 million VND/tael lower than the selling price of SJC gold.
Gold prices fall, investors await Fed's move
According to Kitco News , the world spot gold price decreased by 0.89% to 2,027 USD/ounce at 5:38 p.m. (Vietnam time), in the afternoon trading session on January 8. The price of gold for February delivery also decreased by 0.76% to 2,034.3 USD/ounce.
Gold prices fell on a stronger dollar and higher bond yields, while investors awaited inflation data from the US.
The market's performance is being influenced by the positive US jobs report with expectations of a US interest rate cut gradually waning, said Kyle Rodda , financial market analyst at Capital.com.
Official data showed US employers hired more workers than expected in December, but separate data from the Institute for Supply Management showed the services sector slowed sharply last month.
The dollar index rose 0.1%, after posting its best week since July 2023 last week. A stronger dollar makes bullion more expensive for buyers using other currencies, while the yield on the 10-year U.S. Treasury note held above 4%.
Gold price trend 2024
According to Kitco News , commenting on the gold price trend in 2024, BCA Research predicts that gold prices will increase to $2,200/ounce this year because this precious metal remains an important hedging channel against inflation and risks in the financial market.
While many gold investors continue to watch the US Federal Reserve (Fed) for signs of monetary policy easing, BCA analysts say there are other factors that will support gold’s upward momentum in the new year.
On monetary policy, BCA predicts that the Fed will cut interest rates more slowly than the market expects. The Fed has already signaled that it could cut interest rates three times in 2024, while the CME FedWatch tool shows that the market is predicting that the Fed's interest rate will fall below 4% by the end of this year.
Despite the expected decline, BCA believes that inflation will not return to the Fed’s 2% target. This will make gold an attractive long-term hedge against inflation. At the same time, rising government debt, geopolitical uncertainty and changing globalization trends are expected to boost inflation in the long term.
BCA experts also predict that geopolitical instability will increase the appeal of gold as a safe haven through 2024. These experts believe that the transition to green energy and the race for raw material supplies will increase geopolitical tensions globally.
The final factor supporting gold prices this year has been strong central bank demand. BCA notes that rising geopolitical tensions will put pressure on the US dollar as the world’s reserve currency, making gold an attractive currency.
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