Gold price lost 500 thousand dong in a week

Domestic gold price today December 9, 2024

At the time of survey at 4:30 a.m. on December 9, 2024, the gold price on the trading floors of some companies was as follows:

Today, DOJI listed the price of 9999 gold at 83 million VND/tael for buying and 84 million VND/tael for selling. Compared to the beginning of last week, the price of gold rings at DOJI decreased by 500 thousand VND/tael for both buying and selling.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 84-85 million VND/tael for buying and selling. Compared to the beginning of last week, the price of SJC gold at Mi Hong decreased by 300 thousand VND/tael for both buying and selling.

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 82.7-85.2 million VND/tael (buy in - sell out). Meanwhile, at Bao Tin Manh Hai, it is also being traded at 82.7-85.2 million VND/tael (buy in - sell out). Compared to the beginning of last week, SJC gold price here has decreased by 500 thousand VND/tael in both buying and selling directions.

The latest gold price list today, December 9, 2024 is as follows:

Gold price today	December 9, 2024 (Million VND)		Difference from the beginning of last week (thousand VND/tael)
	Buy	Sell	Buy	Sell
SJC in Hanoi	82.7	85.2	-600	-600
DOJI Group	82.7	85.2	-600	-600
Red Eyelashes	84	85	-300	-300
PNJ	82.7	85.2	-600	-600
Vietinbank Gold		85.2		-600
Bao Tin Minh Chau	82.7	85.2	-500	-500
Bao Tin Manh Hai	82.7	85.2	-500	-500

1. DOJI - Updated: 12/9/2024 04:30 - Source website time - ▼/▲ Compared to yesterday.
Type	Buy	Sell
AVPL/SJC HN	82,700	85,200
AVPL/SJC HCM	82,700	85,200
AVPL/SJC DN	82,700	85,200
Raw material 9999 - HN	82,900	83,200
Raw material 999 - HN	82,800	83,100
AVPL/SJC Can Tho	82,700	85,200

2. PNJ - Updated: December 9, 2024 04:30 - Time of the source website - ▼/▲ Compared to yesterday.
Type	Buy	Sell
HCMC - PNJ	83,000	84,000
HCMC - SJC	82,700	85,200
Hanoi - PNJ	83,000	84,000
Hanoi - SJC	82,700	85,200
Da Nang - PNJ	83,000	84,000
Da Nang - SJC	82,700	85,200
Western Region - PNJ	83,000	84,000
Western Region - SJC	82,700	85,200
Jewelry gold price - PNJ	83,000	84,000
Jewelry gold price - SJC	82,700	85,200
Jewelry gold price - Southeast	PNJ	83,000
Jewelry gold price - SJC	82,700	85,200
Jewelry gold price - Jewelry gold price	PNJ 999.9 Plain Ring	83,000
Jewelry gold price - Jewelry gold 999.9	82,900	83,700
Jewelry gold price - Jewelry gold 999	82,820	83,620
Jewelry gold price - Jewelry gold 99	81,960	82,960
Jewelry gold price - 916 gold (22K)	76,270	76,770
Jewelry gold price - 750 gold (18K)	61,530	62,930
Jewelry gold price - 680 gold (16.3K)	55,670	57,070
Jewelry gold price - 650 gold (15.6K)	53,160	54,560
Jewelry gold price - 610 gold (14.6K)	49,810	51,210
Jewelry gold price - 585 gold (14K)	47,720	49,120
Jewelry gold price - 416 gold (10K)	33,570	34,970
Jewelry gold price - 375 gold (9K)	30,140	31,540
Jewelry gold price - 333 gold (8K)	26,370	27,770

3. SJC - Updated: 12/9/2024 04:30 - Source website time - ▼/▲ Compared to yesterday.
Type	Buy	Sell
SJC 1L, 10L, 1KG	82,700	85,200
SJC 5c	82,700	85,220
SJC 2c, 1c, 5c	82,700	85,230
SJC 99.99 gold ring 1 chi, 2 chi, 5 chi	82,600	84,000
SJC 99.99 gold ring 0.3 chi, 0.5 chi	82,600	84,100
Jewelry 99.99%	82,500	83,600
Jewelry 99%	79,772	82,772
Jewelry 68%	54,003	57,003
Jewelry 41.7%	32,014	35,014

World gold price today December 9, 2024 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,632.81 USD/Ounce. Today's gold price decreased by 15.71 USD/Ounce compared to the beginning of last week. Converted according to the USD exchange rate, on the free market (25,710 VND/USD), the world gold price is about 82.51 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 2.69 million VND/tael higher than the international gold price.

Last week, SJC gold bar prices increased in 1 session, decreased in 2 sessions and remained unchanged in 3 sessions. At the end of the week, gold prices closed at the lowest level in the past 10 days, down a total of 600 thousand VND/tael compared to the beginning of the week.

Currently, the price of SJC gold bars is at 85.2 million VND/tael, about 2.69 million VND higher than the world gold price. The gap between buying and selling prices remains at 2.5 million VND/tael, meaning that gold bar buyers lose about 3.1 million VND after holding for a week.

The price of gold rings also decreased last week, recording a loss of VND1.5 to VND2.1 million per tael depending on the brand. Currently, the price of gold rings is at VND84.1 million per tael, the lowest since November 19, 2024, and about VND1.56 million higher than the world gold price.

Both gold bars and gold rings have adjusted their prices closely following developments in the world gold market. Last week, the gap between domestic and international gold prices remained below VND3 million.

The gap between buying and selling prices of gold rings has narrowed, from 1-1.9 million VND last weekend to 1-1.4 million VND. This is considered a positive signal for investors.

Although gold prices are trending down, this could be an opportunity for investors to buy at a better price. The fact that gold prices are stable in a narrow range despite the downward pressure creates favorable conditions for those who are looking for a reasonable entry point in the market.

Although the gold market is currently quiet, this could be a period of accumulation before a potential price increase. Investors should closely monitor developments and be prepared for future opportunities.

Gold prices are in a “pause” phase after falling sharply by about $90 an ounce on November 25, according to Kitco News expert Gary Wagner. This reflects accumulation and hesitation in the market, as investors look for new directions in a volatile global economic environment.

One of the key factors was a decline in physical gold demand from China, the world’s largest gold consumer. This led to a decline in inflows into gold exchange-traded funds (ETFs) in November, ending a six-month streak of growth.

In addition, the US Federal Reserve's interest rate policy also plays a big role. US labor market data shows steady strength, making it unnecessary for the Fed to cut interest rates quickly.

Next week, important data such as the November Consumer Price Index (CPI) and Producer Price Index (PPI) will be released. If housing prices stabilize and inflation declines, the Fed is likely to continue cutting interest rates, creating favorable conditions for gold prices to rise. However, experts emphasize that the market needs a stronger catalyst than just stable inflation.

Gold Price Forecast

Christopher Vecchio, an expert at Tastylive, said he is neutral on the gold market. He said that gold needs to break through the resistance level of $ 2,725 / ounce to create new growth momentum.

According to Gold Eagle, in the long term, gold prices could reach $3,200/ounce within a year and $4,825/ounce within three years.

LiteFinance forecasts that gold prices will fluctuate between $2,421 and $2,651 per ounce in 2025. Factors such as interest rates, global market supply and demand, geopolitical tensions and currency devaluation will affect gold prices.

JP Morgan forecasts gold prices will continue to hit record highs in 2024, expected to average $2,500/ounce in the fourth quarter of 2024.

Gold prices could rise to $2,700 an ounce by mid-2025 due to factors such as Fed rate cuts and central bank gold purchases, Reuters reported.

Source: https://baodaknong.vn/gia-vang-hom-nay-9-12-2024-gia-vang-mat-500-nghin-dong-trong-mot-tuan-236355.html