Latest gold price forecast for 2025, will SJC gold bars return to 90 million VND/tael?

(NLDO) - Gold price could reach 3,000 USD/ounce (equivalent to about 92 million VND/tael) in 2025

This is the latest forecast on gold prices made by Mr. Heng Koon How, Head of Market Strategy, Global Market and Economic Research, UOB Singapore Bank, on December 30.

Gold has had a very strong year in 2024, rising from $2,000 an ounce in January to around $2,600 an ounce, according to Heng Koon How. Longer term, the positive drivers remain intact – including continued gold allocations from emerging markets and Asian central banks, and strong physical and jewellery demand from the retail sector.

There is a common thread running through the surge in demand from central banks and the retail sector, both driven by a need to diversify away from rising geopolitical concerns and uncertainty surrounding the US dollar, in the face of disruptive trade and fiscal policies from a second term in office for US President Donald Trump.

The price of SJC gold bars and gold rings has had a very volatile year.

Mr. Heng Koon How said that the long-term outlook for gold remains very positive, due to the demand for safe havens amid increasing geopolitical and economic risks, especially during Donald Trump’s second term (Trump 2.0). He predicted that gold prices could reach $3,000/ounce by the end of 2025. However, in the short term, the strength of the US dollar could cause gold prices to fall into a consolidation phase before continuing the strong growth trend in 2025.

Gold is likely to benefit from the uncertainty and continue its strong rally through 2025, according to UOB experts.

If the world gold price reaches 3,000 USD/ounce as predicted by UOB, converted at the current listed exchange rate of 25,540 VND/USD, it will be equivalent to 92 million VND/tael.

Meanwhile, economic expert Dr. Nguyen Tri Hieu said that it is very difficult for the world gold price to exceed the 3,000 USD/ounce mark next year. According to this expert, the gold price is having supporting factors but there are also many factors causing the gold price to go down. The probability of the gold price reaching the 2,800 USD/ounce mark in 2025 is about 60% while the probability of reaching the 3,000 USD/ounce mark is only 20% - 30%.

Regarding domestic gold prices, Dr. Nguyen Tri Hieu said that the State Bank still controls the SJC gold bar market and maintains the price stabilization program, so there will be difficulty in making a breakthrough until Decree 24 on gold market management is amended.

For 99.99 gold rings, the price has increased very strongly in a year, sometimes surpassing the price of SJC gold bars. The price of gold rings mainly fluctuates closely following the world gold price.

"In 2025, the price of SJC gold bars will continue to be tightly controlled, making it difficult to break out, while the price of gold bars will follow the world trend. However, 2024 will be a year of turmoil in the gold market, so it will be difficult to expect the precious metal to increase sharply. Investors need to be careful with gold," Dr. Hieu predicted.

On the afternoon of December 30, the price of SJC gold bars was commonly traded around 82.5 million VND/tael for buying and 84.5 million VND/tael for selling. The price of plain gold rings was traded at 82.5 million VND/tael for buying and 84.3 million VND/tael for selling, stable compared to the morning.

Source: https://nld.com.vn/du-bao-moi-nhat-gia-vang-nam-2025-vang-mieng-sjc-co-len-lai-90-trieu-dong-luong-196241230141421014.htm