What will the price of gold be like in 2025?

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

The price of SJC gold bars decreased by 300,000 VND/ounce today - Photo: THANH HIEP

Domestic gold prices fall ahead of the New Year.

Before recovering to its current level, world gold prices fluctuated wildly. Last night, at one point, world gold prices dropped to as low as $2,595 per ounce.

At the current price, converted using the exchange rate listed at banks, the world gold price is equivalent to 80.58 million VND per tael.

Domestic gold prices saw a slight decrease today. SJC listed the selling price of SJC gold bars at 84.2 million VND/ounce, down 300,000 VND compared to yesterday. The buying price was 82.2 million VND/ounce.

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

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

2024 was a record year for gold prices. World gold prices rose 35.2%, setting an all-time record and approaching $2,800 per ounce ahead of the US presidential election.

However, the price of gold then fluctuated continuously around the $2,600/ounce mark.

Will the price of gold reach $3,000 per ounce?

World gold prices have mostly trended upwards over the past year - Screenshot

In his latest report, Heng Koon How, Head of Market Strategy, Global Market and Economic Research at UOB Bank Singapore, stated that, from a long-term perspective, the positive dynamics of gold remain intact.

Central banks and retail sectors are increasing their investments in gold to hedge against rising geopolitical uncertainties surrounding the US dollar, particularly in light of disruptive trade and fiscal policies stemming from the second term of US President-elect Donald Trump.

The continued allocation of gold by emerging markets and Asian central banks, as well as strong demand for physical gold and jewelry from the retail sector, is also driving gold prices.

"We maintain our positive outlook on gold and forecast that gold prices will rise to $3,000 per ounce by the end of 2025."

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

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

Both Brent crude oil and copper are likely to be weighed down by the worsening economic growth outlook for 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 upward trend throughout 2025," said Heng Koon How.

Please see the latest updates on domestic gold prices HERE.

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