Gold price on January 19, 2025: Sharp decrease across the board

DNVN - On January 19, 2025, the domestic gold market witnessed a sharp and simultaneous downward adjustment.

SJC drops below 87 million VND/tael

The domestic gold market recorded a sharp decline when the price of gold bars of most brands decreased by 400,000 VND in both buying and selling directions. Currently, the listed prices of gold brands are as follows:

The gold bar price of the brands is being bought at 84.9 million VND/tael and sold at 86.9 million VND/tael. Meanwhile, Phu Quy SJC has a buying price 200,000 VND lower than other brands.

Similarly, the price of gold rings of the brands also decreased. Specifically, the price of SJC 9999 gold rings was listed at 84.6 million VND/tael for buying and 86.3 million VND/tael for selling, down 400,000 VND in both buying and selling compared to the previous trading session.

DOJI in Hanoi and Ho Chi Minh City markets has reduced the buying price by VND600,000 and the selling price by VND500,000, currently at VND84.6 million/tael and VND86.2 million/tael.

At the same time, the price of PNJ brand gold rings was listed at 85 million VND/tael for buying and 86.9 million VND/tael for selling, down 200,000 VND and 100,000 VND respectively.

Bao Tin Minh Chau currently lists the price of plain round rings at 84.9 million VND/tael for buying and 86.85 million VND/tael for selling, down 650,000 VND for buying and 400,000 VND for selling.

Phu Quy SJC buys gold rings at 84.5 million VND/tael and sells at 86.2 million VND/tael, down 700,000 VND and 500,000 VND respectively.

World gold price

According to Kitco, at 5:00 a.m. this morning, Vietnam time, the world spot gold price was recorded at 2,702.18 USD/ounce, unchanged from yesterday. Converted according to the free USD exchange rate (25,530 VND/USD), the world gold price is about 83.1 million VND/tael (excluding taxes and fees). This means that the price of SJC gold bars is currently about 4.2 million VND/tael higher than the international gold price.

The strong growth in gold prices this week is said to be due to investors predicting that Mr. Donald Trump will implement his tariff commitment right after his inauguration, which could increase inflation while the FED keeps interest rates unchanged, creating favorable conditions for gold prices to increase sharply next week.

In addition, if Mr. Trump implements the tariff policy after his inauguration, there is a high possibility that a tariff war will occur, especially the US-China trade war. This could destabilize the global economy , even the risk of stagflation (low growth, high inflation), pushing gold prices up sharply in the near future.

Jesse Colombo, an independent precious metals analyst and founder of BubbleBubble Reports, said that the rise in gold prices against other currencies is a signal for investors to pay attention to. He also predicted that in the near future, gold prices could reach a record high above $2,800 an ounce, while the important resistance level for gold is still at $3,000 an ounce.

Colombo said it was no surprise that gold was performing well ahead of Trump’s inauguration. If the next US president initiates a trade war with proposed tariffs, the global economy will face difficulties. Consumers will suffer from higher prices and weaker economic activity, creating a stagflationary environment that favors gold.

Despite the strong rally in the precious metals market, some experts warn that gold is trading near a key resistance level. David Morrison, senior analyst at Trade Nation, said the last time gold hit this resistance level, it fell 5% in just a few days.

Cao Thong (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-19-1-2025-dong-loat-giam-manh/20250119091849084