Today's domestic gold price, January 17, 2025, has been increasing continuously. Plain rings and SJC gold bars continued to increase by 300,000 VND, up to 86.8 million VND/tael for gold rings and 87.3 million VND/tael for gold bars. World gold prices also increased.
Domestic gold ring prices this morning continued to be adjusted up by brands following the upward momentum from the previous session.
Saigon Jewelry Company (SJC) early this morning raised the buying price of 1-5 tael gold rings to 85-86.7 million VND/tael (buy - sell), an increase of 200 thousand VND per tael in both buying and selling compared to yesterday's closing price.
Similarly, Doji Gold and Gemstone Group early this morning also raised the buying and selling price of 9999 gold rings to 85.3-86.8 million VND/tael, an increase of 300 thousand VND per tael in both buying and selling compared to yesterday's closing price.
| Buy (VND/tael) | Increase/decrease | Sell (VND/tael) | Increase/decrease | |
| SJC | 85,000,000 | + 200,000 | 86,700,000 | + 200,000 |
| Doji | 85,300,000 | + 300,000 | 86,800,000 | + 300,000 |
SJC and Doji gold ring price list updated on the morning of January 17
Opening the trading session on January 17 , the price of SJC 9999 gold increased by 300 thousand VND/tael in both buying and selling compared to the closing price of yesterday's trading session, to 85.3-87.3 million VND/tael (buying - selling).
The price of 9999 gold was listed by Saigon Jewelry Company Limited (SJC) at 8:28 a.m. and the price of 9999 gold was listed by Doji Jewelry Group at 8:35 a.m. as follows:
| Buy (VND/tael) | Increase/decrease | Sell (VND/tael) | Increase/decrease | |
| SJC HCMC | 85,300,000 | + 300,000 | 87,300,000 | + 300,000 |
| Doji Hanoi | 85,300,000 | + 300,000 | 87,300,000 | + 300,000 |
| Doji HCMC | 85,300,000 | + 300,000 | 87,300,000 | + 300,000 |
SJC and Doji gold bar price list updated on the morning of January 17
The central exchange rate on January 17 announced by the State Bank was 24,341 VND/USD, an increase of 8 VND compared to the previous trading session. The USD price at commercial banks this morning (January 17) was commonly listed at 25,168 VND/USD (buy) and 25,558 VND/USD (sell).
At 8:36 a.m. today (January 17, Vietnam time) , the world spot gold price was at 2,712.1 USD/ounce, down 5.4 USD/ounce compared to last night. The price of gold futures for February 2025 on the Comex New York floor was at 2,744 USD/ounce.
On the morning of January 17 , the world gold price converted to USD bank price was over 84.4 million VND/tael, including tax and fees, about 2.9 million VND/tael lower than the domestic gold price.
Gold price on Kitco floor at 9:00 p.m. (January 16, Vietnam time) was trading at 2,717.5 USD/ounce, up 0.86% compared to the beginning of the session. Gold futures price for February 2025 delivery on Comex New York floor was trading at 2,750.8 USD/ounce.
At the beginning of the trading session in the US market, the world gold price increased sharply, surpassing 2,700 USD/ounce after the report of the number of weekly unemployment benefits applications in the US increased to 217,000, an increase of 14,000 applications compared to the forecast. Retail sales in December increased by 0.4%. These are two factors that helped gold increase sharply in price, when investors expected the US Federal Reserve (Fed) to speed up the loosening of monetary policy.
In addition, gold also received important support from the US dollar and falling bond yields. US core inflation was lower than expected. The precious metals market believes that the Fed's monetary policy easing cycle may not be over yet.
The US core CPI was lower than expected, which is a positive sign for gold, increasing the likelihood that the Fed will continue to cut interest rates this year, according to Bart Melek, commodity strategist at TD Securities.
The market now expects the Fed to cut interest rates by 40 basis points by year-end, compared with around 31 basis points before the inflation data.
Meanwhile, gold is being hammered by the threat of higher tariffs from Donald Trump, who begins his second term next week. Experts say imposing tariffs on a wide range of imports could fuel inflation and further limit the Fed’s ability to cut interest rates.
Many believe that precious metals will have no shortage of bullish catalysts in 2025. According to Chris Mancini, portfolio manager of Gabelli Gold Fund, the main catalyst he is watching is economic uncertainty and the impact on consumer prices.
In the domestic market, at the end of the session on January 16, the price of 9999 gold bars at SJC was 85 million VND/tael (buy) and 87 million VND/tael (sell). Doji also listed the price of gold bars at 85 million VND/tael (buy) and 87 million VND/tael (sell).
SJC announced the price of gold rings of type 1-5 at only 84.8-86.5 million VND/tael (buy - sell). Doji listed the price of 9999 round gold rings at 85-86.5 million VND/tael (buy - sell).
Gold Price Forecast
According to many experts, the inflation index, unemployment data and US retail sales increase, the Fed will delay lowering interest rates and this is a negative factor for gold. On the contrary, gold can increase and conquer the threshold of 2,700 USD/ounce.
Kelvin Wong, senior market analyst for Asia Pacific at Oanda, predicts that if gold prices fall below $2,600 an ounce, the next support level will be around $2,540 an ounce. This could be an attractive price for long-term investors to consider buying.
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Source: https://vietnamnet.vn/gia-vang-hom-nay-17-1-2025-vang-sjc-nhan-tang-vot-2364037.html
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