The price of gold “accelerates”, attractiveness “revives”, the market is heading towards a new record

Update the gold price development today June 18, 1

Global gold prices have reached their highest level in over a month.

Notes from Journal of the world and Vietnam at 7:45 p.m. on July 16 (Hà Nội time), world gold prices trading on electronic exchanges Kitco stay 2.705,90 – 2.706,90 USD/oncean increase of 9 USD compared to the close of the previous session.

Gold prices rose to their highest level in more than a month after the latest US economic data put increased pressure on Treasury yields, after the underlying inflation index continued to rise. ‘rise for four consecutive months, increasing expectations for more accommodative policy from the US Federal Reserve (Fed). The latest U.S. economic data – including retail sales, jobless claims and import prices – pushed U.S. Treasury yields to pare gains and trade near their lowest levels in more than a week .

Falling government bond yields have made gold more attractive. “We are therefore seeing a renewed attraction for gold,” according to TheGoldForecast.com.

Domestic gold price Continuation of the strong increase from the day before.

Continuing the sharp increase, the price of SJC gold bars reached 87.3 million VND/tael, and gold rings increased to 86.95 million VND/tael. According to the survey, in gold stores, people continue to queue early to buy gold rings, which shows great attraction even though gold prices are anchored at a relatively high level. With strong demand in the domestic market, while the end of the year and the beginning of the new year are always exciting times for the market and this situation promises to continue until the Lunar New Year with the day. of the God of wealth.

SJC Gold Bar Price Saigon VBQ Company (SJC) increased by 300 thousand VND/tael in both directions of buying and selling from yesterday’s closing session, currently trading between 85.3 million and 87.3 million VND /tael (purchases – sales). DOJI Group also announced the price of 85.3 to 87.3 million VND/tael (purchase – sale).

9999 Gold Plain Round Ring Price increases with SJC gold bars.

At Bao Tin Minh Chau Company, the price of gold rings traded between 85.45 and 86.95 million VND/tael (purchase – sale), an increase of 450,85 VND/tael. The Saigon VBQ company announced the price of gold rings between 86.7 million and 86.7 million VND/tael.

Summary of SJC gold bar prices and 9999 round gold ring prices at major domestic commercial brands in the closing session on January 17, 1:

Saigon SJC VBQ company: SJC gold bullion 85.3 – 87.3 million VND/tael; SJC 85 gold ring – 86.7 million VND/tael.

Groupe DOJI: gold bars SJC 85.3 – 87.3 million VND/tael; Ring round 9999 (Hung Thinh Vuong) 85 – 86.5 million VND/tael.

PNJ system: SJC gold bars 85.3 – 87.3 million VND/tael; The PNJ 999.9 plain gold ring is priced between 85.2 and 87 million VND/tael.

The SJC gold price in Bao Tin Minh Chau is quoted between 85.3 and 87.3 million VND/tael; The price of the round gold ring is 85.45-86.95 million VND/tael.

Is a further rise in gold prices about to take place?

Gold prices have accelerated and will reach a new record high after the event, according to technical analyst Gary Wagner TheGoldForecast.com. If this seasoned analyst is to be believed, the gold market will see one last decline before accelerating again, heading towards a new record high in 2025.

A number of unknowns could influence prices – beyond market expectations, including the new tariff policy proposed by US President-elect Donald Trump – about to take office (January 20) and the ongoing geopolitical situation .

Gold prices have seen significant increases in recent years, increasing by around $500 an ounce on two occasions. If the situation is similar, expert Wagner said that if gold falls to 2.600 USD and then rises to 400 USD, as happened in previous cycles, the international gold price this time could reach 2026 USD per ounce at the end of this year or the beginning of 2026.

“I see the price of gold not only at $2.800, but my numbers are around $2.900, with highs up to $3.000. I rely on this to make forecasts about the different stages of price increases,” Wagner shared.

“In October 10, the price of gold was just below $2.000, and has since risen to $2.535 per ounce. So this represents an increase of approximately $2,380. After that, gold prices entered an adjustment period. And from 2.800 USD, the price of gold rose to 500 USD. So we also saw an increase of $100,000 and then $100,000.

Currently, the spot price of gold is trading around 2.700 USD/ounce, having increased by 2,5% since the beginning of 2024 until today.

Meanwhile, Goldman Sachs slightly adjusted its gold price forecast earlier this year, pushing back its forecast from $3,000 an ounce by 2025 to mid-2026. The investment bank expects the price of gold to reach $20,000 per ounce by the end of 2025.

According to the Wagner expert TheGoldForecast.com, The possibility of new tariffs under the incoming Trump administration is the main driver of the bullish outlook for the price of gold. Mr. Trump announced tariffs on goods from many countries, including a 25% duty on imports from Mexico and Canada and an additional 10% duty on imports from China.

“If President-elect Trump follows through on the above statement, it could create enormous inflationary pressures. Tariffs could lead to higher inflation, which would benefit gold as an inflation hedge. In addition, expert Wagner also highlighted persistent geopolitical tensions, such as military conflicts in Ukraine and the Middle East, as factors favorable to the price of gold. He noted that these conflicts show no signs of slowing down and that “geopolitical conflicts still exist.”

Economic Forum The World Economic Forum (WEF) has just declared that armed conflicts constitute the main risk in 2025. “Armed conflicts constitute the major and immediate risk for 2025, reflecting the increase in geopolitical tensions and fragmentation on a global scale. world,” said the WEF.

However, aside from tariffs and geopolitical instability, analyst Gary Wagner also points to other potential macroeconomic surprises that could impact gold prices, such as US fiscal policy and monetary policy. the Fed. He noted that the Fed is slowing the pace of interest rate cuts and that it is not yet clear how many cuts there will be in 2025. Whether the Fed decides to cut interest rates this year will depend on latest US economic data. Inflation, economic growth and budget deficits will influence the Fed’s decision-making process.

According to Wagner, a big unknown this year is also the impact of customs duties on precious metals. Precious metals were previously exempt from tariffs, but it remains unclear whether this will continue to be the case under President Trump’s administration. Tariffs on precious metals can create extreme market volatility.