Gold prices increase positively despite "bad weather", forecast a volatile 2025 and the possibility of climbing to the peak of 3,000 USD?

Gold price today December 28, 2024: World gold prices are still fluctuating around the solid support level of 2,600 USD/ounce as the Fed prepares for a softer easing cycle in 2025. Domestically, SJC gold bar and gold ring prices increased simultaneously.

1. PNJ - Updated: 12/27/2024 11:00 PM - Source website time - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
HCMC - PNJ	83,800 ▲100K	84,700 ▲200K
HCMC - SJC	82,700 ▲200K	84,700 ▲200K
Hanoi - PNJ	83,800 ▲100K	84,700 ▲200K
Hanoi - SJC	82,700 ▲200K	84,700 ▲200K
Da Nang - PNJ	83,800 ▲100K	84,700 ▲200K
Da Nang - SJC	82,700 ▲200K	84,700 ▲200K
Western Region - PNJ	83,800 ▲100K	84,700 ▲200K
Western Region - SJC	82,700 ▲200K	84,700 ▲200K
Jewelry gold price - PNJ	83,800 ▲100K	84,700 ▲200K
Jewelry gold price - SJC	82,700 ▲200K	84,700 ▲200K
Jewelry gold price - Southeast	PNJ	83,800 ▲100K
Jewelry gold price - SJC	82,700 ▲200K	84,700 ▲200K
Jewelry gold price - Jewelry gold price	PNJ 999.9 Plain Ring	83,800 ▲100K
Jewelry gold price - Jewelry gold 999.9	83,700 ▲100K	84,500 ▲100K
Jewelry gold price - Jewelry gold 999	83,620 ▲100K	84,420 ▲100K
Jewelry gold price - Jewelry gold 99	82,760 ▲100K	83,760 ▲100K
Jewelry gold price - 916 gold (22K)	76,500 ▲90K	77,500 ▲90K
Jewelry gold price - 750 gold (18K)	62,130 ▲80K	63,530 ▲80K
Jewelry gold price - 680 gold (16.3K)	56,210 ▲70K	57,610 ▲70K
Jewelry gold price - 650 gold (15.6K)	53,680 ▲70K	55,080 ▲70K
Jewelry gold price - 610 gold (14.6K)	50,300 ▲70K	51,700 ▲70K
Jewelry gold price - 585 gold (14K)	48,180 ▲60K	49,580 ▲60K
Jewelry gold price - 416 gold (10K)	33,900 ▲40K	35,300 ▲40K
Jewelry gold price - 375 gold (9K)	30,440 ▲40K	31,840 ▲40K
Jewelry gold price - 333 gold (8K)	26,640 ▲40K	28,040 ▲40K

Update gold price today 12/28/2024

World gold prices rebounded positively amid "headwinds" .

International markets opened after the Christmas holiday amid relatively thin trading, further highlighting the role of the precious metal in a larger, more positive picture for the market, as gold prices continued to hold a "bullish stance" despite the 10-year bond yield rising above 4.6%, reaching its highest level since May. At the same time, the US dollar remained high above 108 points.

Recorded by World & Vietnam Newspaper at 7:15 p.m. on December 27 (Hanoi time), gold price closed trading on the Kitco electronic floor at 2,626.60 - 2,627.60 USD/ounce , down 6.9 USD compared to the previous trading session. Converted according to the USD exchange rate at Vietcombank, the world gold price is about 80.090 million VND/tael.

“Gold prices are in a state of flux,” said Kitco News senior analyst Jim Wyckoff. “For active traders, market noise is a major concern, causing rapid daily dips and spikes. However, this trend could change by 2025, especially as key global geopolitical factors come to the fore.”

Against the backdrop of the US Federal Reserve (Fed) updating its forecast last week to only cut interest rates twice next year, Julia Khandoshko, CEO of European brokerage Mind Money, speculated that the Fed could be more dovish than expected next year.

The CEO reiterated his prediction that gold prices will rise above $3,000 an ounce, partly due to growing uncertainty around U.S. monetary policy. Although gold has struggled in recent weeks due to persistent inflation, the Fed's actions may be limited.

Meanwhile, according to the World Gold Council (WGC), gold demand from central banks has reached its highest level in more than a decade. This reinforces gold's position as a safe haven asset, especially in the context of geopolitical and global economic uncertainties. In addition, the application of loose monetary policies by central banks and slowing down the pace of interest rate increases also signals positive support for gold prices.

Domestic gold prices increased simultaneously, maintaining the threshold of over 84 million VND/tael.

A notable move in the currency market last week (December 23-27) was the State Bank injecting a large amount of liquidity into the banking system after the exchange rate showed signs of "cooling down". Meanwhile, domestic gold prices increased slightly this week after a sharp decline the previous week. Specifically, the State Bank has injected a total of VND70,098 billion into the banking system since the beginning of this week. This has partly reversed the net withdrawal of nearly VND71,500 billion last week.

SJC gold bar price increased 200 thousand VND/tael in both buying and selling directions compared to yesterday's closing price, at large businesses such as Doji Group and Bao Tin Minh Chau Company. 82.7 - 84.7 million VND/tael (buy - sell).

The price of 9999 round smooth gold rings increased slightly at some businesses nationwide. However, compared to last weekend, the price of gold rings decreased by about 800 thousand VND - 1.2 million VND/tael.

Saigon Jewelry Company announced the price of gold rings at 82.7 - 84.5 million VND/tael; DOJI Group listed it at 83.3 - 84.3 million VND/tael; At Phu Quy Company, the listed price of gold rings was 83.3 - 84.8 million VND/tael; Bao Tin Minh Chau traded the price of gold rings at 83.1 - 84.7 million VND/tael.

Gold price today December 28, 2024: Gold price 'flying in bad weather', still increasing positively, welcoming a volatile 2025 with the $3,000 mark? (Source: Kitco)

Summary of SJC gold bar prices and plain round gold ring prices at major domestic trading brands at the closing time of last week's trading session (December 27):

Saigon Jewelry Company SJC: SJC gold bars 82.7 - 84.7 million VND/tael ; SJC gold rings 82.7 - 84.5 million VND/tael.

DOJI Group: SJC gold bars 82.7 - 84.7 million VND/tael ; 9999 round rings (Hung Thinh Vuong) 83.3 - 84.3 million VND/tael.

PNJ system: SJC gold bars 82.7 - 84.7 million VND/tael ; PNJ 999.9 plain gold rings at 83.6 - 84.3 million VND/tael.

Phu Quy Gold and Silver Group: SJC gold bars: 82.7 - 84.7 million VND/tael ; Phu Quy 999.9 round gold rings: 83.3 - 84.8 million VND/tael.

SJC gold price at Bao Tin Minh Chau is listed at 82.7 - 84.7 million VND/tael; round gold ring price is 83.1 - 84.7 million VND/tael.

2025 - Will gold price reach 3,000 USD?

The gold market experienced a historic moment in 2024 as prices surged to record highs. According to market strategists, 2025 could be equally volatile as the world grapples with significant geopolitical and economic uncertainty.

Some of the highlights of 2024 include unprecedented demand from Asian consumers, which helped push prices to record levels early in the year. Central banks also bought gold at a record pace in the first half of the year.

George Milling-Stanley, chief gold strategist at State Street Global Advisors, said he expects 2025 to be another exciting and potentially record-breaking year for gold. With the gold market holding solid support above $2,600 an ounce, prices have risen more than 25% for the year. At its peak in late November, gold prices were up more than 30%, marking their best performance since 1979.

Daniel Pavilonis, market strategist at RJO Futures, said, "Central banks will continue to buy. As inflation persists, consumer demand will also increase." In addition, the market is also waiting for more signs about the US economic situation during Donald Trump's second term and the US Federal Reserve's interest rate strategy in 2025. He predicted that gold prices could exceed $3,000 by 2025. This is also the expected milestone recently given by many major financial institutions.

Senior analyst Jim Wyckoff shared that - "as 2024 comes to a close and the new year begins, I expect more stability in the precious metals market, but cannot rule out a major unexpected geopolitical development that could quickly create safe-haven demand for gold.

Donald Trump officially returns to the White House for the second time in late January 2025. It is likely that the recent volatility in gold trading is at least partly due to traders waiting to see what political and economic actions Trump will take in his first few weeks in office, especially with regard to relations with major partners such as China and the European Union (EU) surrounding the tariffs he has previously announced.

Wyckoff said that Donald Trump may not be as tough on other partners as many feared. If true, this could provide a positive boost to the precious metals market, as better economic relations between the US and international partners could boost global economic growth and increase demand for metals.

In recent interviews and speeches, Mr. Trump has struck a slightly more conciliatory tone. A less hawkish U.S. president would be good for prices in the precious metals market. Better economic relations between the U.S. and its global trading partners would mean better global economic growth, including more demand for precious metals, according to Mr. Wyckoff.

From a longer-term investment perspective, the technical trend for gold remains firmly bullish, with no long-term chart clues suggesting major market tops have been reached or are about to be reached in the coming weeks, months, or even longer. “I have little doubt that gold prices will rise above $3,000 an ounce in the next few years, or sooner—and possibly even higher,” said the veteran Kitco News analyst.

Notably, the current gold market is still in a boom cycle starting in 2022. The most recent recession period took place from 2011 to 2015.

Sharing with investors a chart of lumber and cocoa futures prices, which have seen periods of explosive growth, nearly tripling in a matter of months, but also periodic downturns, analyst Jim Wyckoff notes that “it is impossible to rule out the possibility that gold prices in the next few years or sooner could follow the same path as lumber and cocoa have taken—that is, skyrocketing from their all-time highs.”

The year 2025 promises to bring many important changes in the gold market. Although short-term factors may cause volatility, the long-term upward trend remains, with the prospect of gold prices surpassing the $3,000/ounce threshold in the next few years.

Source: https://baoquocte.vn/gia-vang-hom-nay-28122024-gia-vang-tang-tich-cuc-bat-chap-thoi-tiet-xau-du-bao-nam-2025-day-bien-dong-va-kha-nang-leo-ding-3000-usd-298829.html