Domestic gold price

At the close of trading on January 13, the price of 9999 gold bars at SJC Ho Chi Minh City was VND74 million/tael (buy) and VND77 million/tael (sell). SJC Hanoi listed it at VND74 million/tael (buy) and VND77.02 million/tael (sell).

DOJI Hanoi listed at 73.95 million VND/tael (buy) and 76.95 million VND/tael (sell). DOJI Ho Chi Minh City bought SJC gold at 73.95 million VND/tael and sold at 76.95 million VND/tael.

International gold price

At the end of the trading session on January 12 (US time), the international spot gold price on Kitco reached 2,049 USD/ounce.

Precious metals are heating up amid escalating geopolitical tensions in the Middle East, with investors scrambling to find safe havens.

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International gold prices are expected to increase sharply due to political conflicts in the Middle East. (Photo: Kitco)

Gold investors are expecting gold prices to continue to rise due to escalating geopolitical tensions in the Middle East, said Kelvin Wong, senior market analyst for Asia-Pacific at OANDA.

Specifically, the US and British militaries have carried out many attacks on locations related to the Houthi movement in Yemen.

The tense geopolitical situation in the Red Sea region has also caused Asian stock markets to fall and oil prices to spike, leading analysts to predict that gold prices will likely rise.

Mr. Kelvin Wong commented that the US CPI index increased on January 11, core inflation remained low, and the US 10-year bond yield fell below 4%. This shows that gold is showing a positive trend in the coming time.

Gold Price Forecast

According to the IRPR tool, an application of LSEG's interest rate probability, the gold market is betting that the US Federal Reserve will cut interest rates by 150 basis points this year. On the investor side, 70% expect the possibility of the Fed cutting interest rates in February.

Investors are focusing their attention on the Fed's move to keep policy rates steady at its upcoming two-day meeting on January 30-31.

Investors typically flock to gold in times of uncertainty and geopolitical conditions, analysts say. Military conflicts are raising concerns about regional stability, prompting a move toward the relative safety of gold.

Gold price today January 13, 2024 cooled down, SJC gold is still at the peak of 77 million VND . Gold price today January 13, 2024 in the country, SJC gold cooled down, to 77 million VND/tael after a sudden increase of a million VND in the morning. World gold price after increasing beyond 2,050 USD/ounce has decreased slightly.