LIVE UPDATE TABLE OF GOLD PRICE TODAY 13/1 and EXCHANGE RATE TODAY 13/1
| 1. PNJ - Updated: 12/01/2024 21:30 - Time of website supply - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 62,200 ▲200K | 63,350 ▲200K |
| HCMC - SJC | 73,700 ▲500K | 76,000 ▲700K |
| Hanoi - PNJ | 62,200 ▲200K | 63,350 ▲200K |
| Hanoi - SJC | 73,700 ▲500K | 76,000 ▲700K |
| Da Nang - PNJ | 62,200 ▲200K | 63,350 ▲200K |
| Da Nang - SJC | 73,700 ▲500K | 76,000 ▲700K |
| Western Region - PNJ | 62,200 ▲200K | 63,350 ▲200K |
| Western Region - SJC | 73,500 ▲500K | 76,200 ▲700K |
| Jewelry gold price - PNJ | 62,200 ▲200K | 63,350 ▲200K |
| Jewelry gold price - SJC | 73,700 ▲500K | 76,000 ▲700K |
| Jewelry gold price - Southeast | PNJ | 62,200 ▲200K |
| Jewelry gold price - SJC | 73,700 ▲500K | 76,000 ▲700K |
| Jewelry gold price - Jewelry gold price | PNJ Ring (24K) | 62,200 ▲200K |
| Jewelry Gold Price - 24K Jewelry | 62,100 ▲200K | 62,900 ▲200K |
| Jewelry Gold Price - 18K Jewelry | 45,930 ▲150K | 47,330 ▲150K |
| Jewelry Gold Price - 14K Jewelry | 35,550 ▲120K | 36,950 ▲120K |
| Jewelry Gold Price - 10K Jewelry | 24,920 ▲90K | 26,320 ▲90K |
Domestic gold prices of SJC gold bars continued to increase in the afternoon trading session of January 12. SJC has added 700,000 VND/tael since early morning, officially reaching the peak of 76 million VND/tael.
Specifically: SJC gold price at DOJI Hanoi is trading around 73.40 million VND/tael for buying, 75.95 million VND/tael for selling (up 700 thousand VND/tael in both directions).
Phu Quy Gold and Gemstone Group listed the price of SJC gold at 73.5 - 76.02 million VND/tael (buy - sell), an increase of 700 thousand VND/tael for buying and 700 thousand VND/tael for selling compared to yesterday's closing price.
World gold prices remained stable at over $2,000/ounce due to the impact of a report that US workers filed for unemployment benefits last week lower than expected.
That proves that the US economy is recovering, inflation is under control, causing the US Federal Reserve (Fed) to delay cutting interest rates and causing gold to lose its competitive advantage over other investment channels.
The US also reported higher-than-expected consumer prices in December 2023, which could delay the Fed from cutting interest rates in March 2024. The consumer price index (CPI) in December 2023 increased by 3.4% year-on-year, a sharper increase than in November 2023. The figures show that the path to "cooling down" inflation is not easy.
According to TG&VN at 7:00 p.m. on January 12, the world gold price on the Kitco electronic trading floor was at 2,051.3 - 2,052.3 USD/ounce, an increase of 23.1 USD compared to the previous trading session.
 |
| Gold price today January 13, 2024: Gold price is stable, the market is waiting for a breakthrough price increase, experts are 'very optimistic'. (Source: Shutterstock) |
Summary of SJC gold prices at major domestic trading brands at the closing time of January 12, 2024:
Saigon Jewelry Company listed the price of SJC gold at 73.5 - 76.02 million VND/tael.
Doji Group currently lists the price of SJC gold at: 73.45 - 75.95 million VND/tael.
Phu Quy Group listed SJC gold price at: 73.40 - 75.80 million VND/tael.
PNJ system listed at: 73.60 - 75.90 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at: 73.8 - 75.95 million VND/tael.
Optimistic about precious metals
According to experts, industry leaders, financial analysts and major banks, there are several factors influencing the gold price forecast for 2024.
In particular, most of the conditions in the new year are supportive of gold prices soaring, amid ongoing geopolitical tensions and expectations of most major central banks cutting interest rates this year, led by the Fed.
Mike McGlone, Bloomberg Intelligence Strategist, has a very optimistic prediction for gold. He believes that the price will reach $7,000/ounce by 2025.
Regarding the price in 2024, Mr. McGlone said that the precious metal could reach $3,000, which is about 50% higher than now.
Bank of America predicts that gold prices will average $1,975 an ounce in 2024 and will be at $2,200 by December 2024. According to the bank, when the Fed starts cutting interest rates this year, gold prices will increase.
In Bank of America's 2024 Metals and Mining Outlook, the bank's metals strategists stated: “The yellow metal is ultimately an interest rate trade, so once the Fed announces the end of its rate hike cycle in Q2, that will be a decisive announcement for new buyers to enter the market.
If the Fed cuts rates sooner, gold could end 2024 at $2,400 an ounce."
Meanwhile, US bank JP Morgan expects the price of precious metals to average $2,175 per ounce in the second half of this year.
JP Morgan said the US economy could experience a mild recession before the Fed begins to ease policy and geopolitical risks have made gold more attractive to governments.
The Fed's interest rate cut in the second quarter of 2024 and US bond yields will be "important drivers" for gold market growth, said Greg Shearer, managing director of global commodities research at JP Morgan.
JP Morgan bank believes that the gold market will witness a "breakout rally" in mid-2024 with prices possibly reaching a high of $2,300/ounce when interest rates are cut as expected.
Source
Comment (0)