Gold price on January 18, 2025: Exceeding the 87 million VND/tael mark

DNVN - Domestic gold prices on January 18, 2025 increased simultaneously, surpassing the threshold of 87 million VND/tael, while world gold prices decreased slightly, down to nearly 2,700 USD/ounce.

Domestic gold price

The domestic gold market continues to record an upward trend, with an increase of 300,000 VND in both buying and selling directions for gold bars of most brands. Currently, the specific listed prices of the brands are as follows:

The price of gold bars is listed by major brands at 85.3 million VND/tael for buying and 87.3 million VND/tael for selling. Notably, the Phu Quy SJC brand is buying 200,000 VND lower than other brands.

Similarly, the price of SJC 9999 gold rings also increased, with the listed buying price being 85 million VND/tael and the selling price being 86.7 million VND/tael, an increase of 200,000 VND in both directions compared to the previous morning.

DOJI in Hanoi and Ho Chi Minh City adjusted the price up by VND200,000, listing the buying and selling prices at VND85.2 million/tael and VND86.7 million/tael, respectively.

PNJ brand gold ring price is kept at 85.2 million VND/tael for buying and 87 million VND/tael for selling.

Bao Tin Minh Chau listed the price of plain round gold rings at 85.55 million VND/tael for buying and 87.25 million VND/tael for selling, an increase of 100,000 VND for buying and 300,000 VND for selling.

Phu Quy SJC also adjusted the price of gold rings, listing the buying price at 85.2 million VND/tael and the selling price at 86.7 million VND/tael, an increase of 100,000 VND in each direction.

World gold price

According to Kitco, the world spot gold price at 5 a.m. this morning (Vietnam time) was recorded at 2,702.18 USD/ounce, down 0.42% compared to the previous day. Converted according to the USD exchange rate on the free market (25,535 VND/USD), the world gold price is equivalent to 83.1 million VND/tael (excluding taxes and fees), 4.2 million VND/tael lower than domestic SJC gold bars.

According to Reuters, pressure from the rising USD caused the world gold price to decrease, although gold still maintained its upward momentum during the week due to concerns surrounding the policies of President Donald Trump about to take office and expectations of the Fed cutting interest rates.

"Today's decline was minor, but mainly profit-taking, as a slight rise in the US dollar put pressure on gold prices," said David Meger, director of metals trading at High Ridge Futures.

Gold hit its highest in more than a month on Thursday, just $65.60 shy of its October record of $2,790.15. It rose 0.5% this week, its third straight weekly gain, after weaker-than-expected U.S. core inflation data raised expectations for further rate cuts by the Federal Reserve.

Traders expect the Fed to cut interest rates two more times by the end of the year, after Fed Governor Christopher Waller hinted that this could happen if economic data continues to weaken.

Markets are now turning their attention to Trump's inauguration on January 20, with expectations that his tariff and trade policies will increase inflation and boost demand for gold as a safe haven.

"Uncertainties surrounding President Trump's policies will be an important support factor for gold," Meger added.

Gold, which does not pay interest and is often seen as a hedge against inflation and political risks, benefits in a low-interest-rate environment.

“The big question remains how tariffs will be implemented,” said Nitesh Shah, commodity strategist at WisdomTree. “Many investors are looking to gold as a hedge against risk if these policies hurt economic growth.”

Spot silver fell 2% to $30.17 an ounce; palladium rose 1% to $949.99, while platinum rose 0.9% to $940.28.

Cao Thong (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-18-1-2025-vuot-moc-87-trieu-dong-luong/20250118091554240