Next week, Donald Trump will be inaugurated as President of the United States (January 20). Many predict that Mr. Trump’s protectionist policies could cause inflation to rise. This is a beneficial factor for gold.
TREN world, until December 20 at 2:1 p.m. (Vietnam time), the spot price of gold in the global market today is 2.668 USD/ounce. Gold delivered in February 2025 on the Comex New York floor is at 2.677 USD/ounce.
The global gold price on the night of September 14 was about 1% higher (29.3 USD/ounce) compared to the beginning of 605. The global gold price converted by the bank price in USD was 2024 million VND/tael including taxes and fees, or approximately 82.9 million VND/tael. million VND/tael lower than the national gold price as of the late afternoon of September 3.5.
Global gold rose again after falling sharply in the previous two sessions, falling from a one-month high of USD 2,100/ounce to USD 2,700,000/ounce. Demand for bottom fishing along with a slowing dollar has helped gold prices recover.
Before that, the dollar hit a two-year high, with the DXY index surpassing 2 points. By the evening of January 110, the DXY had fallen to 14 points.
The greenback climbed to its highest level in 2 years on January 11 in the context of the publication by the United States of a dynamic report on employment. Investors expect the Federal Reserve (Fed) to continue to be cautious in cutting interest rates this year.
Gold also rose because the United States reported a lower-than-expected producer price index (PPI).
On the domestic market, at the close of the trading session on January 14, the price of gold bars at 1 at SJC and Doji listed at 84.4-86.4 million VND/tael (buy – sell), in drop of 400.000 VND compared to the previous session.
SJC announced the price of gold rings of types 1 to 5 between 84.6 and 86.1 million VND/tael (purchase – sale). Doji reported the price of the round 9999 gold ring at 84.4 million to 86.1 million VND/tael (buy – sell), down 500.000 VND/tael from the buyers’ side and 300.000 VND from the side sales compared to the previous session.
The price of plain gold round rings is slightly lower than the price of SJC gold bars.
-Gold Price Prediction
Many forecasts indicate that there is not much room for the DXY to rise in 2025. The Fed is still in an interest rate cut cycle, which is putting pressure on the dollar. Even if the Fed delays, the cycle of lower interest rates will continue and if there is a reversal, it will take at least until 2026.
Additionally, Mr. Trump’s second term could see the budget deficit continue to widen, leading to a weakening of the dollar.
In 2024, the greenback will increase very sharply, crushing most other major currencies. In 2025, it is likely that the world will see a recovery of many currencies. The trend toward reducing U.S. dollar reserves and increasing holdings of other assets will also put pressure on the dollar.
Mr. Trump himself always protects the position of the dollar, but also does not like too strong a currency, which often poses difficulties for American exports. Mr Trump said interest rates in the United States are currently too high and need to be cut sharply.
The turmoil surrounding “Trump 2.0” could also push gold prices higher.
Currently, investors are awaiting reports on inflation, unemployment data and US retail sales, which will be released this week. If the indicators are positive, the Fed will delay lowering interest rates, which is a negative factor for gold. On the contrary, gold could rise and cross the threshold of 2.700 USD/ounce.
The CPI consumer price index for December is expected to be announced Wednesday evening (Vietnam time), and is expected to rise 12 percent over the same period, up from 4 percent in November. The core CPI is expected to increase by 2.9% per year. -over one year, unchanged compared to the previous month.
Gold Price Forecast for the Next 10 Days: Finding Upward Momentum, Will Rings and SJC Hit 90 Million?A range of economic factors are expected to strongly support gold over the next 10 days. The price of gold will likely return to 2.700 USD/ounce. So Ring Gold and SJC will be more motivated to increase prices to get closer to the 50 million VND/tael mark?
