DNVN - Domestically, the price of SJC gold rings and gold bars on the morning of December 12 continued to increase along with the upward trend of world gold prices.
Domestic gold market price
At 9:10 a.m., DOJI Gold and Gemstone Group listed the price of gold rings at VND84.8 - 85.9 million/tael (buy - sell), an increase of VND200,000/tael in both directions compared to the closing price of the previous session.
At Saigon Jewelry Company (SJC), the price of gold rings was announced at 84.5 - 85.9 million VND/tael (buy - sell), with an increase of 200,000 VND/tael for buying and an increase of 100,000 VND/tael for selling compared to the previous session.
In line with the trend, the price of SJC gold bars was also adjusted up. According to the announcement of Saigon Jewelry Company (SJC), the price of SJC gold bars is currently at 84.8 - 87.3 million VND/tael (buy - sell), an increase of 400,000 VND/tael in both buying and selling compared to the previous session.
Similarly, the price of SJC gold bars at DOJI Gold and Gemstone Group was also listed at 84.8 - 87.3 million VND/tael (buy - sell), an increase of 400,000 VND/tael in both directions compared to the closing price of the previous session.
International market gold price
In the international market, gold prices increased in the trading session on December 11 when US inflation data was released as expected, increasing expectations that the Federal Reserve (Fed) will cut interest rates next week.
Spot gold rose 0.9% to $2,717.29 an ounce at 1:41 a.m. (Vietnam time). Previously, spot gold hit a record $2,790.15 an ounce on October 31. At the same time, US gold futures rose 1.4% to $2,756.70 an ounce.
Data from the US Department of Labor showed that US consumer prices increased 0.3% in November 2024 compared to the previous month, and compared to the same period last year, this index increased 2.7% after increasing 2.6% in October 2024.
According to a survey by Reuters news agency, economists predict the CPI index in November 2024 in the US will increase 0.3% compared to the previous month and increase 2.7% compared to the same period last year.
WisdomTree expert Nitesh Shah believes that gold could hit a new high by 2025, with geopolitical risks continuing to play a key role in supporting prices. “Gold prices could reach $3,000 an ounce by the end of 2025,” he said.
Gold is traditionally seen as a safe haven asset during times of geopolitical uncertainty and its value typically increases in low interest rate environments.
Cao Thong (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-12-12-tiep-tuc-tang-manh/20241212102006097
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