Gold prices are holding their breath awaiting news from the Fed.

The price of SJC gold bars has remained unchanged for the past three days at 85.1 million VND/ounce. World gold prices are also awaiting news from the Fed.

World gold prices fell slightly tonight - Screenshot

World gold prices fell slightly.

At the end of today, December 18th, the world gold price was at $2,639.5 per ounce, down $8 per ounce. Converted using the exchange rate listed at banks, the world gold price is equivalent to VND 81.12 million per tael (approximately 37.5 grams).

In recent days, world gold prices have fluctuated within a narrow range, whereas last week the price of gold fluctuated very widely.

According to experts, gold prices are also anticipating information from the US Federal Reserve (Fed) meeting scheduled for 2 AM tomorrow, December 19th.

This is the Fed's final monetary policy meeting of 2024 and will conclude with a statement from the Fed and a press conference by Fed Chairman Jerome Powell.

Previous analyses suggested that inflation in the US was showing signs of slowing down, but could accelerate again in 2025 due to the impact of policies by President-elect Donald Trump.

The situation could force the Fed to slow down the pace of interest rate cuts, thereby impacting the upward price outlook for gold.

In fact, the recently released retail sales figures are better than expected, suggesting that the Fed may only cut interest rates by 0.25% this time. In 2025, the Fed is expected to cut interest rates only 1-2 times, at most 3 times.

Domestic gold prices edged up again.

Domestically, the price of SJC gold bars has remained unchanged for the past three days at 85.1 million VND/ounce (selling price), and 83.1 million VND/ounce (buying price), with a buy-sell price difference of 2 million VND/ounce.

Meanwhile, the buying price of 9999 gold rings increased by 400,000 VND/ounce, from 82.6 million VND/ounce to 83 million VND/ounce. On the selling side, the price of SJC gold bars increased by 200,000 VND/ounce, reaching 84.5 million VND/ounce.

Several other gold trading businesses have also simultaneously increased their buying prices for gold rings.

Bao Tin Minh Chau Co., Ltd. listed the selling price of gold rings at 85.03 million VND/ounce, while the buying price was 83.73 million VND/ounce.

DOJI company listed the price of gold rings at 83.7 - 84.7 million VND/ounce (buying price - selling price).

At current prices, SJC gold bars are priced 3.98 million VND/ounce higher than the world gold price, while gold rings are priced 3.38 million VND/ounce higher.

Source: https://tuoitre.vn/gia-vang-nin-tho-cho-tin-tu-fed-20241218220232967.htm