Closing the session on January 17, gold bar prices at SJC and Doji closed between 85.3 and 87.3 million VND/tael (buy – sell), an increase of 300 thousand VND per tael at both buying and selling compared to the previous day’s trading session.
The price of SJC’s gold ring of 1 to 5 taels is quoted between 85 and 86.7 million VND/tael (purchase – sale), an increase of 200 thousand VND per tael in both directions of purchase and sales compared to the conclusion of the previous session.
The price of 9999 gold ring in Doji closed at 85.2 million to 86.7 million VND/tael, an increase of 200 VND per tael for buying and selling compared to the closing level of the day before.
Gold price today above world Trading at 9:17 p.m. (January 1, Vietnam time) was trading at $2.704/ounce, down 2% from the start of the session . The gold futures price for February 2025 on the Comex New York floor is 2.735 USD/ounce.
The US Dollar Index (DXY), which measures the movements of the greenback against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stood at 6 points.
Crude oil futures prices on Nymex rose slightly and are trading around USD 78.75 per barrel. The yield on the benchmark 10-year U.S. Treasury note is currently 4.584%.
Global gold prices fell at the start of the US trading session as investors took profits. Gold prices have surged recently, hitting a four-week high amid disappointing retail sales data and a weakening dollar.
The U.S. Commerce Department said retail sales in December rose 12%, lower than the expected increase of 0.4% and lower than the adjusted consumer price index of 0.5 % in November, excluding food and energy prices, which increased by 0.8% in December. compared to the same month last year.
Investors are watching important data to provide detailed insights into the U.S. Federal Reserve’s (Fed) policy roadmap.
At last month’s policy meeting, Fed officials argued that slower growth and higher unemployment could be the immediate consequences of expected trade and other policies. Although inflation has slowed, it remains above the Fed’s 2% annual target.
-Observers say it is almost certain that the Fed will keep interest rates unchanged at its January 28-29 meeting. Goldman Sachs predicts the Fed will cut interest rates twice this year, in June and December.
Other notable news is that President Donald Trump will take office on January 20. Investors fear that US President-elect Donald Trump’s import tax policy could spark a trade war.
These policies could also complicate the central bank’s interest rate adjustment roadmap. This can be positive news, leading to an increase in demand for safe haven assets and many investors turning to gold.
ANZ Bank analysts said investors are bracing for further developments when Mr Trump takes office and implements new economic policies in the near future.
Gold Price Prediction
According to Juan Carlos Artigas, head of global research at the World Gold Council (WGC), gold will continue to grow in 2025, although the pace will slow compared to 2024.
He said the dual nature of gold is both an investment asset and a consumer good. Gold is a very effective preventative measure. Investors have flocked to precious metals amid market volatility and growing geopolitical risks.
In addition, strong demand from central banks, particularly in Asia, has stimulated the market.
Chief economist Ming Ming said gold futures prices are expected to range between USD 3,000 and USD 3,250/ounce throughout the year.
