At the end of the session on December 28, gold bar prices at the SJC closed between 12 and 82.7 million VND/tael (sold).
The price of SJC’s 1-5 tael gold ring is quoted at 82.7-84.5 million VND/tael (buy – sell), unchanged from the previous session.
Gold ring price 9999 in Doji Closing of the session at 83.85-84.7 million VND/tael (purchase – sale), an increase of 550 thousand VND/tael on the buying side and 400 thousand VND/tael more expensive on the seller side compared to the previous session.
Gold price world spot delivery at 2.620 USD/ounce. The gold futures price for December 2025 on the Comex New York floor is 2.631 USD/ounce.
Over the week as a whole, the world price of gold (spot) decreased slightly by 0.1% compared to last week’s close.
The gold market recorded low liquidity in the last week of 2024. According to experts, gold prices traded in a narrow range. Barring any major surprises, gold prices remain stuck between rising bond yields and safe-haven demand due to increased geopolitical and economic instability.
According to Fawad Razaqzada, market analyst at City Index, the main driver of the rise in gold prices in 2024 is the market expectation that central banks would lower interest rates as inflation falls.
On December 12, the Federal Reserve (Fed) cut interest rates and exercised caution for the coming year due to continued inflation risks, partly due to policy changes such as reductions in taxes and tariffs under President Trump. Likewise, the European Central Bank and the Bank of England are adopting a cautious policy.
Monetary policy is expected to remain tight in early 2025, Razaqzada said, supporting bond yields and the dollar, two factors that often reduce the appeal of gold.
James Hyerczyk, market analyst at FX Empire, said investors were closely watching conflicts in Eastern Europe and the Middle East. Such a geopolitical context continues to drive up gold prices.
Gold Price Prediction
Hyerczyk said the near-term outlook for gold remains less optimistic, with yields and dollar strength acting as more powerful factors than geopolitical risks.
It predicts that gold prices will trade at the support level of USD 2,607/2,665.65/ounce next week. Gold prices must surpass the USD 1,000/ounce mark to regain bullish momentum.
According to Fawad Razaqzada, despite the short-term challenges, the gold price target of 3.000 USD/ounce is still achievable. Any correction next year would pave the way for gold prices to rise in the second half.
