Gold price on Kitco floor at 9:00 p.m. (January 6, Vietnam time) was trading at 2,625.5 USD/ounce, down 0.57% compared to the beginning of the session. Gold futures price for February 2025 delivery on Comex New York floor was trading at 2,657.3 USD/ounce.

At the beginning of the trading session in the US market, the world gold price increased slightly after the USD index decreased by more than 1 point, losing the 109 point mark compared to the end of last week. However, immediately after that, due to selling pressure, the gold price turned to decrease deeply.

Despite the high pressure from the US dollar, experts and retail investors still predict that gold prices will surpass the threshold of 3,000 USD/ounce this year. A possible global trade war under President Trump, along with increasing geopolitical instability, leading to slower economic growth, inflation remaining above 3% and a mild economic recession in the second half of 2025 are the perfect environment to support gold prices.

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World gold price falls due to selling pressure. Photo: HH

Chantelle Schieven, head of research at Capitalight Research, said he remains bullish on the precious metal this year, but that the rally in gold prices is not expected to happen now but in the next few months.

Chantelle Schieven added that gold prices will trade between $2,500 and $2,700 an ounce in the first half of the year, breaking out and surpassing the $3,000 an ounce mark in the second half of 2025.

In the domestic market, at the end of the session on January 6, the price of 9999 gold bars at SJC was 83.5 million VND/tael (buy) and 85 million VND/tael (sell). Doji listed it at 83.5 million VND/tael (buy) and 85 million VND/tael (sell).

SJC announced the price of gold rings of type 1-5 at only 83.5-84.8 million VND/tael (buy - sell). Doji listed the price of 9999 smooth round gold rings at 84-85 million VND/tael (buy - sell).

Gold Price Forecast

Fawad Razaqzada, a market analyst at City Index, predicts that despite short-term challenges such as the strength of the greenback and rising bond yields, gold prices will still reach the target of $3,000/ounce in the first half of 2025.

According to Nicky Shiels, Head of Precious Metals Research and Strategy at MKS PAMP, gold prices will trade in a fairly wide range of $2,500 to $3,200 an ounce in 2025. The extent of the price increase depends on the monetary policy of the US Federal Reserve (Fed).

David Miller, senior investment director and portfolio manager at Catalyst Funds, said that gold prices could continue to be supported by the trend of BRICS countries converting USD reserves to gold to avoid risks from sanctions.

Gold price forecast for the next 10 days: Despite the strong USD, gold prices will continue to increase . Despite the pressure from the strong USD, experts still predict that gold prices in the next 10 days on the world market will increase. From there, the price of SJC gold bars and plain rings will increase accordingly.