Gold price today (January 22): World gold prices skyrocketed thanks to the weakening of the USD and the demand for safe havens, due to concerns surrounding US President Donald Trump's tax policy.
Domestic gold price today
Domestic gold prices suddenly increased sharply, with gold bar prices increasing by 600,000 VND in both directions, and gold ring prices increasing the most by 1.35 million VND. Currently, gold prices of brands are listed specifically as follows:
The price of gold bars that brands are buying is 85.5 million VND/tael and selling is 87.5 million VND/tael.
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| Domestic gold bar prices increase sharply. Photo: dantri.com.vn |
Similarly, the price of gold rings was also adjusted to increase sharply compared to early yesterday morning. Specifically, the price of SJC 9999 gold rings was listed at 85.2 million VND/tael for buying and 86.9 million VND/tael for selling, an increase of 600,000 VND in both directions compared to early yesterday morning.
DOJI in Hanoi and Ho Chi Minh City markets adjusted up 1.35 million VND for buying and 1.2 million VND for selling, to 85.75 million VND/tael and 87.2 million VND/tael, respectively.
The buying and selling prices of PNJ brand gold rings are listed at 85.4 million VND/tael and 87.2 million VND/tael, an increase of 700,000 VND for the buying price and 1 million VND for the selling price.
Bao Tin Minh Chau listed the price of plain round rings at 85.5 million VND/tael for buying and 87.45 million VND/tael for selling, an increase of 900,000 VND for buying and 600,000 VND for selling compared to early yesterday morning.
Phu Quy SJC is buying gold rings at 85.4 million VND/tael and selling at 87.4 million VND/tael, up 900,000 VND and 1 million VND respectively.
Domestic gold bar prices updated at 5:30 a.m. January 22 as follows:
Yellow | Area | Early morning 21-1 | Early morning 22-1 | Difference | |||||
Buy | Sell | Buy | Sell | Buy | Sell | ||||
Unit of measure: Million VND/tael | Unit of measure: Thousand dong/tael | ||||||||
DOJI | 84.9 | 86.9 | 85.5 | 87.5 | +600 | +600 | |||
Ho Chi Minh City | 84.9 | 86.9 | 85.5 | 87.5 | +600 | +600 | |||
SJC | Ho Chi Minh City | 84.9 | 86.9 | 85.5 | 87.5 | +600 | +600 | ||
Hanoi | 84.9 | 86.9 | 85.5 | 87.5 | +600 | +600 | |||
Danang | 84.9 | 86.9 | 85.5 | 87.5 | +600 | +600 | |||
PNJ | Ho Chi Minh City | 84.9 | 86.9 | 85.5 | 87.5 | +600 | +600 | ||
Hanoi | 84.9 | 86.9 | 85.5 | 87.5 | +600 | +600 | |||
Bao Tin Minh Chau | Nationwide | 84.9 | 86.9 | 85.5 | 87.5 | +600 | +600 | ||
Phu Quy SJC | Nationwide | 84.7 | 86.9 | 85.5 | 87.5 | +800 | +800 | ||
World gold price today
World gold prices increased sharply, with spot gold prices increasing by 37.2 USD to 2,746 USD/ounce. Gold futures last traded at 2,758.9 USD/ounce, up 27.1 USD compared to early this morning.
Gold prices jumped to their highest in more than two months on Tuesday, supported by a weaker dollar and continued demand for the safe-haven asset amid concerns over President Donald Trump’s potential tariffs.
The US Dollar Index fell 0.9%, holding near a two-week low hit in the previous session, making bullion cheaper for holders of other currencies.
The move in the last trading session was mainly related to the threat of comprehensive US tariffs after Mr. Trump's inauguration, according to TD Securities commodity strategist Daniel Ghali.
Information about potential tariffs has been sparse. The president has not provided any specific details about general tariffs or surcharges on major trading partners, a key part of his campaign. But he has hinted at the possibility of imposing tariffs on Canadian and Mexican goods as early as Feb. 1.
In the first year of the Trump administration in 2017, bullion prices rose 13%, their best annual gain in seven years.
Bullion is considered a safe investment in times of economic and geopolitical uncertainty, but Mr Trump’s proposed policies are seen as inflationary, which could force the US Federal Reserve to keep interest rates high for longer to curb price pressures. This is not good for gold.
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| World gold prices increase sharply. Photo: Getty Images |
The market is likely to benefit from this volatility and prices could reach $3,000 an ounce by mid-year, said Julia Khandoshko, CEO of brokerage Mind Money.
Experts say the market is still in a risk-off state, so any drop in gold prices will attract attention.
The market is looking ahead to next week's Fed policy meeting and personal consumption spending data, especially inflation data, according to Peter Grant, vice president and senior metals strategist at Zaner Metals.
“I don’t think anyone expects the Fed to do anything next week, but certainly the policy statement will be looked at very closely for clues about the rest of the year,” Grant said.
With the domestic gold bar price increasing sharply and the world gold price listed at Kitco at 2,746 USD/ounce (equivalent to about 84.2 million VND/tael if converted according to Vietcombank exchange rate, excluding taxes and fees), the difference between domestic and world gold prices is about 3.3 million VND/tael.
TRAN HO HOAI
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Source: https://baodaknong.vn/gia-vang-hom-nay-22-1-tang-vot-240981.html
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