Domestic gold price today January 29, 2024
Early afternoon of January 29 , SJC 9999 gold price increased by 100 thousand VND/tael in both buying and selling compared to early morning.
The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 14:44 and the price of 9999 gold was listed by DOJI Jewelry Group at 15:27 as follows:
| Buy | Sell | |
| SJC Hanoi | 74,300,000 VND/tael | 76,820,000 VND/tael |
| SJC HCMC | 74,300,000 VND/tael | 76,800,000 VND/tael |
| SJC Danang | 74,300,000 VND/tael | 76,820,000 VND/tael |
| DOJI Hanoi | 74,150,000 VND/tael | 76,750,000 VND/tael |
| DOJI HCMC | 74,150,000 VND/tael | 76,750,000 VND/tael |
SJC and DOJI gold price list updated on the afternoon of January 29.
Early morning of January 29 , SJC 9999 gold price today remained unchanged compared to yesterday's closing price.
The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:25 a.m. and the price of 9999 gold was listed by DOJI Jewelry Group at 8:49 a.m. as follows:
| Buy | Sell | |
| SJC Hanoi | 74,200,000 VND/tael | 76,720,000 VND/tael |
| SJC HCMC | 74,200,000 VND/tael | 76,700,000 VND/tael |
| SJC Danang | 74,200,000 VND/tael | 76,720,000 VND/tael |
| DOJI Hanoi | 73,900,000 VND/tael | 76,650,000 VND/tael |
| DOJI HCMC | 74,150,000 VND/tael | 76,650,000 VND/tael |
SJC and DOJI gold price list updated early morning January 29
At the close of trading on January 27, the price of 9999 gold bars at SJC Ho Chi Minh City was VND74.2 million/tael (buy) and VND76.7 million/tael (sell). SJC Hanoi listed at VND74.2 million/tael (buy) and VND76.72 million/tael (sell).
DOJI Hanoi listed at 73.9 million VND/tael (buy) and 76.65 million VND/tael (sell). DOJI Ho Chi Minh City bought SJC gold at 74.14 million VND/tael and sold at 76.65 million VND/tael.
The central exchange rate on January 29, 2024 announced by the State Bank is 24,036 VND/USD, unchanged from the previous session. The USD price at commercial banks this morning (January 29) was listed at 24,370 VND/USD (buy) and 24,740 VND/USD (sell).
International gold price today January 29, 2024
At 8:59 a.m. today (January 29, Vietnam time), the world spot gold price stood at around 2,022.6 USD/ounce, up 4.6 USD/ounce compared to last weekend. The gold futures price for April 2024 delivery on the Comex New York floor was at 2,041.7 USD/ounce.
Gold prices on the Kitco floor ended the trading week at $2,018/ounce, down 0.1% from the beginning of the session. Gold futures for February 2024 delivery on the Comex New York floor traded at $2,018/ounce.
At the current price, the world gold price converted to VND (including tax and processing fee) is about 15.7 million VND/tael different from the domestic SJC gold price.
According to Kitco News' latest weekly gold survey, experts and investors remain cautious and have not yet agreed on the next direction for gold in the near future.
Analysts say the coming time is very important for the gold market when central banks of various countries will introduce monetary policies. Experts predict that high interest rates will likely remain.
Adrian Day, Chairman of Adrian Day Asset Management, said that the recently announced slight increase in inflation will make the US Federal Reserve (Fed) not cut interest rates, or even increase them further at its meeting next March.
Darin Newsom, senior market analyst at Barchart, said gold is caught in a trend of Fed rate hikes or cuts.
According to Colin Cieszynski, chief market strategist at SIA Wealth Management, the Fed's recent less dovish moves suggest that interest rates could continue to rise, and the US dollar could become even stronger. That would be detrimental to the gold market.
Gold Price Forecast
According to some analysts, the next move for gold depends entirely on the Fed's monetary policy. Many forecasts say that the Fed's interest rate cut in March is 50/50.
Experts predict that the Fed will likely adopt a more hawkish stance at its monetary policy meeting on Wednesday (January 31). That will be a big surprise for investors, and gold prices will fall.
Ole Hansen, head of commodity strategy at Saxo Bank, said the Fed will not cut interest rates anytime soon in March.
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