On December 13, SJC listed the price of gold rings of type 1-5 at only 83.8-85.2 million VND/tael (buy - sell).

Doji announced the price of 9999 gold rings at 83.8-84.9 million VND/tael (buy - sell).

The price of 9999 gold bars at SJC and Doji is 83.9 million VND/tael (buy) and 86.4 million VND/tael (sell).

The price of gold today on the world market (at 9:00 p.m., December 13, Vietnam time) was at 2,661 USD/ounce, down 0.71% compared to the beginning of the session. The price of gold futures for February 2025 on the Comex New York floor was at 2,679 USD/ounce.

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World gold price drops. Photo: Hoang Ha

According to the World Gold Council (WGC) 2025 Outlook report, the gold market in 2025 is less optimistic amid uncertainty dominating investor sentiment.

The WGC stressed that the major risk for gold remains President-elect Donald Trump's uncertain economic policies, including proposed tariffs to support domestic manufacturing, which threaten to push the global economy into a trade war.

Some economists say higher trade tariffs could add to already high inflation, potentially impacting the Federal Reserve’s current monetary policy stance. Persistent inflation could slow the pace of future rate cuts.

The market has begun to reduce expectations for Fed rate cuts in 2025. Bank of America predicts two rate cuts next year, while Wells Fargo forecasts just one.

In the US, the producer price index (PPI) rose 0.4% in November, higher than the forecast of 0.2%. The November CPI figure was as expected, boosting the possibility of the Fed cutting interest rates by another 0.25% at its meeting on December 17-18.

The US Dollar Index (DXY), which measures the greenback's movements against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) stood at 106.88 points.

Nymex crude futures traded around $70.50 a barrel. The yield on the benchmark 10-year U.S. Treasury note is currently at 4.336%.

Meanwhile in Europe, the European Central Bank (ECB) decided to cut interest rates by 0.25% as expected. Ms. Christine Lagarde, President of the ECB, emphasized that the fight against inflation is not over yet.

Gold Price Forecast

Zain Vawda, a market analyst at Oanda, said the bullish sentiment helped maintain the short-term rally. The market could see a correction ahead of the Fed meeting as investors take profits.

Gold prices could hit $3,000 an ounce by the end of 2025, according to Nitesh Shah, an expert at WisdomTree. Geopolitical risks remain a supportive driver for gold.