Domestic gold ring prices this morning of some brands were adjusted up.

Opening the trading session , Saigon Jewelry Company (SJC) listed the price of gold rings of type 1-5 at only 84-85.3 million VND/tael (buy - sell), unchanged compared to the closing session last weekend.

Similarly, Doji Gold and Gemstone Group early this morning also kept the price of 9999 gold rings at the closing price of last week, trading at 84.55-85.5 million VND/tael (buy - sell).

At 9:32 a.m. , Doji Gold and Gemstone Group raised the price of 9999 gold rings to 84.65-85.6 million VND/tael (buy - sell), an increase of 100,000 VND in both buying and selling compared to early this morning.

Buy (VND/tael) Increase/decrease Sell (VND/tael) Increase/decrease
SJC 84,000,000 0 85,300,000 0
Doji 84,650,000 + 100,000 85,600,000 + 100,000

                                              SJC and Doji gold ring price list updated on the morning of January 6

Opening the trading session on January 6 , the price of SJC 9999 gold remained unchanged compared to the closing session yesterday, at 85.5 million VND/tael (selling).

The price of 9999 gold was listed by Saigon Jewelry Company Limited (SJC) at 8:34 a.m. and the price of 9999 gold was listed by Doji Jewelry Group at 8:33 a.m. as follows:

Buy (VND/tael) Increase/decrease Sell (VND/tael) Increase/decrease
SJC HCMC 84,000,000 0 85,500,000 0
Doji Hanoi 84,000,000 0 85,500,000 0
Doji HCMC 84,000,000 0 85,500,000 0

                          SJC and Doji gold bar price list updated on the morning of January 6

The central exchange rate on January 6 announced by the State Bank was 24,337 VND/USD, up 3 VND compared to the previous trading session. The USD price at commercial banks this morning (January 6) was commonly listed at 25,223 VND/USD (buy) and 25,553 VND/USD (sell).

At 8:40 a.m. today (January 6, Vietnam time) , the world spot gold price was at 2,643.5 USD/ounce, up 4.5 USD/ounce compared to the end of last week. The price of gold futures for February 2025 on the Comex New York floor was at 2,656.8 USD/ounce.

On the morning of January 6 , the world gold price converted to USD bank price was over 82.2 million VND/tael, including tax and fees, about 3.3 million VND/tael lower than the domestic gold price.

Opening the first session of the new year (January 2), SJC listed the price of gold rings of type 1-5 at only 83.3-84.6 million VND/tael (buy - sell). At Doji, the price of 9999 gold rings was at 84-84.8 million VND/tael (buy - sell). The price of SJC gold bars was traded at 83.3-84.8 million VND/tael (buy - sell).

Session 3/1, domestic gold price adjusted up by half a million, SJC and rings jumped to 85.5 million VND.

As of January 4, the price of 1-5 chi SJC gold rings was at 84-85.3 million VND/tael (buy - sell). The price of 9999 gold rings at Doji was at 84.55-85.5 million VND/tael (buy - sell).

Gold bar price at SJC is traded at 84-85.5 million VND/tael (buy - sell).

Thus, compared to the closing price of the previous week, SJC gold price increased by 1.3 million VND/tael (buy) and increased by 800,000 VND/tael (sell).

The world spot gold price closed last week at $2,639/ounce. The gold futures price for February 2025 on the Comex New York floor was at $2,654/ounce.

Ewa Manthey, commodity strategist at ING, said the bullish macro picture combined with persistent geopolitical risks and strong government buying will push gold prices to new highs by 2025.

Gold prices have been largely influenced by the Federal Reserve’s decisions this year. “The key question for the gold market now is how quickly the Fed will ease policy after Donald Trump’s victory, and the inflationary impact of Trump’s policies could lead to fewer rate cuts than expected,” Manthey said.

ING forecasts that central bank gold demand will remain strong, supporting gold prices. Central banks continue to increase their gold reserves, although the pace of purchases slowed in the third quarter of 2024, with high gold prices reducing central bank buying demand.

world gold price copy.jpg
World gold prices are forecast to have positive prospects. Photo: Kitco

The macro backdrop remains favorable for gold as interest rates fall and foreign exchange reserve diversification continues amid geopolitical tensions and rising safe-haven demand, Manthey said.

In the long run, Trump’s proposed policies – including tariffs and tighter immigration controls – will limit the Fed’s ability to cut interest rates. A stronger dollar and tighter monetary policy create some headwinds for gold. However, rising trade tensions could add to gold’s appeal as a safe haven.

Commodity analysts at BMO Capital Markets believe that gold will remain an important asset in investors’ portfolios in 2025. The possibility of a global trade war will create geopolitical uncertainty, adding momentum to the gold market.

Gold Price Forecast

Nicky Shiels, head of metals strategy at MKS PAMP, predicts that gold could trade in a wide range between $2,500 and $3,200 an ounce. Whether gold will be at $3,000 or below $2,500 depends on whether the Fed is ahead or behind Trump’s inflation curve.

This expert believes that, basically, with long-term high inflation, ongoing de-globalization, currency devaluation, de-dollarization of central banks, chaotic and unpredictable geopolitics, and an unsustainable global debt path, gold is still a safe investment channel.

Retail traders continue to be bullish on gold prices this year, with industry experts and major banks also bullish, according to Kitco News’ annual gold survey.

457 retail investors participated in Kitco News' annual gold survey. The results showed that 58% expect gold prices to trade above $3,000 an ounce, 22% predict gold prices will trade between $2,800 and $3,000 an ounce, 7% choose gold prices between $2,600 and $2,800 an ounce, and 13% think gold prices will fall back to $2,400 and $2,600 an ounce.

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