Gold price adds cause for concern, China factor creates surprise, experts trust dynamic assets

Update the gold price development today June 16, 1

Domestic gold prices have rebounded.

Saigon Jewelry Company (SJC) quoted gold bar prices at 84.6 million VND/tael (buy) and 86.6 million VND/tael (sell). An increase of 200 thousand VND/tael in the direction of buying and selling compared to yesterday’s trading session.

The DOJI system Quotation of 9999 gold at the purchase price of 84.6 million VND/tael and at the sale price of 86.6 million VND/tael. This price increased by 200 thousand VND/tael in the direction of buying and selling compared to yesterday.

At Mi Hong Jewelry Company, the purchase price of SJC gold is 85.1 million VND/tael and the sale price is 86.1 million VND/tael. So, compared to yesterday’s session, the buying price and selling price increased by 400 thousand VND/tael.

Bao Tin Minh Chau Company Limited quoted the price of SJC gold at 84.6 million VND/tael (buy) and 86.6 million VND/tael (sell). This price increased by 200 VND/tael in the direction of buying and selling compared to yesterday.

The price of SJC 9999 gold ring is currently bought at 84.5 million VND/tael and sold at 86.1 million VND/tael. Increase the buying direction by 100 VND/tael – no change in the selling direction compared to yesterday’s trading session.

World gold price slight increase on the afternoon of January 15, as investors waited for the United States to release the Consumer Price Index (CPI) report to provide clearer information on the rate roadmap. interest of the American Federal Reserve (Fed).

Notes from Newspapers of the world and Vietnam As of 6 p.m. on July 15, the global price of gold on the Kitco exchange was at 2.695 – 2.696 USD/ounce, up $16.6 from the previous session.

Rising CPI data will likely lead to lower gold prices, experts say, as it reinforces the view that the Fed is likely to gradually reverse the monetary easing policies it has adopted last year and this process will probably take place in 2025.

A survey of press agency experts Reuters It is forecast that the US CPI in December 12 will increase by 2024% compared to the same period last year, which is more than 2,9% in November 2,7 and 11% compared to the previous month.

Gold does not earn interest but is used as a hedge against inflation, although rising interest rates have reduced the precious metal’s appeal.

Summary of gold prices at major domestic trading brands as of the closing hours of the afternoon trading session on October 15:

Saigon SJC VBQ company: SJC gold bullion 84.6 – 86.6 million VND/tael.

DOJI Group: SJC gold bars 84.6 – 86.6 million VND/tael.

PNJ system: SJC gold bars 84.8 – 86.4 million VND/tael.

Phu Quy Gold and Silver Group: gold bullion SJC 84.4 – 86.4 million VND/tael.

The SJC gold price in Bao Tin Minh Chau is quoted between 84.6 and 86.6 million VND/tael.

Optimistic about the price of gold

Donald Trump will officially take office on January 20. He pledged to impose strict tariff measures. Analysts believe his measures will lead to a trade war and inflation. This will have a significant impact on precious metals.

While, Mr. David Scutt, Market Analyst at City Index found that the possibility of reaching a ceasefire in the Israel-Hamas conflict has created additional downward pressure on gold and silver prices. Both of these commodities have already weakened due to the strength of the US dollar and high bond yields.

“A strong dollar, rising bond yields and new hopes for a Middle East peace deal could be behind this sharp decline,” he said. An unbalanced short-term position after a strong start to the year could have amplified the reversal.

However, Mr David Scutt said precious metals were off to a good start in 2025. He said: “History shows that these conditions are often unfavorable for non-yielding assets such as gold and silver.”

Theo analysts at BMO Capital MarketsAmong commodities, gold is one of the few commodities valued optimistically in 2025.

They predict that central banks will continue to buy gold as they diversify away from the dollar, and expect gold to remain a dynamic asset, serving as an effective hedge against inflation, regardless of geopolitical stability and stock market risks.

Additionally, BMO analysts also warn that investors should not underestimate Chinese demand. Although gold prices have risen quite sharply, Chinese consumers have few options to protect their assets.

“Even though all signs point to increased demand for gold investments in China in 2025, we caution that this will not sit well with policymakers,” BMO analysts predict for a country of several billion people – which is still struggling with low household consumption and a weak private sector. growth of the sector.

BMO expects gold prices to average around $2.750/ounce in 2025, up 3% from previous estimates.

On a quarterly basis, the price of the precious metal is expected to peak over the summer, reaching an average of $2.850 per ounce in the third quarter.