What will the price of gold be like in 2025?

The world gold price tonight, December 31, is at 2,615.7 USD/ounce. Meanwhile, UOB Bank forecasts a price of 3,000 USD/ounce in 2025.

SJC gold bar price decreased by 300,000 VND/tael today - Photo: THANH HIEP

Domestic gold prices fall before New Year

Before recovering to the current level, the world gold price fluctuated wildly. Last night, the world gold price dropped to 2,595 USD/ounce.

At the current price, converted according to the listed exchange rate at the bank, the world gold price is equivalent to 80.58 million VND/tael.

Domestic gold prices fell slightly today. SJC Company listed the selling price of SJC gold bars at 84.2 million VND/tael, down 300,000 VND compared to yesterday. The buying price was 82.2 million VND/tael.

The price of 9999 gold rings also went down. SJC Company listed the selling price of gold rings at 84 million VND/tael, down 300,000 VND compared to yesterday, the buying price is the same as the buying price of gold bars: 82.2 million VND/tael.

Compared to the converted world gold price, the price of SJC gold bars is 3.62 million VND/tael higher, while the price of gold rings is 3.42 million VND/tael higher.

2024 is a record year for gold prices. The world gold price has increased by 35.2%, setting an all-time record and approaching the threshold of 2,800 USD/ounce before the US presidential election.

However, the price of gold then fluctuated continuously around the threshold of 2,600 USD/ounce.

Will gold price go up to 3,000 USD/ounce?

World gold prices over the past year have mainly moved upwards - Screenshot

In the latest report just published, Mr. Heng Koon How, head of market strategy, global market and economic research division of UOB Bank Singapore, commented that in the long term, the positive dynamics of gold remain intact.

Central banks and the retail sector are increasing their investment in gold to avoid the growing geopolitical uncertainties surrounding the US dollar, especially in the face of disruptive trade and fiscal policies from the second term of US President-elect Donald Trump.

Continued gold allocations by emerging markets and Asian central banks, as well as strong physical gold and jewelry demand from the retail sector, also provided a boost to gold.

“We maintain our positive view on gold and forecast gold prices to rise to $3,000/ounce by end-2025.”

However, he warned that the immediate strength of the USD could lead to a short-term consolidation trend for gold before continuing its upward momentum in 2025.

“Next year will bring different developments for Brent crude, copper and gold.

Both Brent crude and copper are likely to be weighed down by worsening economic growth prospects in China and Europe.

Concerns about disruptions from higher trade tariffs under a second Trump administration would also be negative for these two commodities.

However, gold is likely to benefit from the uncertainty and continue its strong rally throughout 2025,” said Heng Koon How.

Please read the updated domestic gold price developments HERE.

Source: https://tuoitre.vn/gia-vang-se-ra-sao-trong-nam-2025-20241231222537238.htm