Before reaching the old record, tonight, December 12, the world gold price had a "super sale", at times dropping by 35 USD/ounce and breaking through the threshold of 2,700 USD/ounce.
World gold price plummeted tonight - Screenshot
Gold price suddenly turns around
At 10:15 p.m., the world gold price was only 2,686 USD/ounce. Converted according to the exchange rate listed at the bank, the world gold price is equivalent to 82.48 million VND/tael.
Previously, in just two days, the world gold price had increased to 73 USD/ounce, equivalent to 2.24 million VND/tael. Because investors expected the gold price to hit the old record, the sudden sharp drop in the gold price tonight surprised many investors.
Across investor forums, there is a buzz about the reason for the sudden drop in world gold prices.
Some analysts believe that inflation in the US is slowing down, and could accelerate again in 2025 due to the impact of President-elect Donald Trump's policies.
The situation may force the US Federal Reserve (Fed) to slow down the pace of interest rate cuts, thereby affecting the prospect of gold price increases.
However, some forecasts still believe that world gold prices could reach a new peak in 2025, as bond yields have fallen this year and geopolitical risks continue to be a supportive factor for gold demand.
The difference between domestic and world gold prices is increasing
The domestic gold market is currently less active because prices are high - Photo: THANH HIEP
Domestically, Saigon Jewelry Company (SJC) kept the selling price of gold unchanged at VND87.1 million/tael and the buying price at VND84.6 million/tael. The difference between the buying and selling prices was VND2.5 million/tael.
Meanwhile, the selling price of SJC gold rings today increased by VND200,000/tael, to VND85.9 million/tael. The buying price also increased accordingly, to VND84.5 million/tael.
Other gold trading businesses also simultaneously increased the selling price of gold rings.
Bao Tin Minh Chau Company Limited listed the selling price of gold rings at 86.16 million VND/tael, an increase of 230,000 VND/tael, while the buying price decreased by 20,000 VND/tael, to 84.41 million VND/tael.
DOJI Company keeps the listed price of gold rings at 84.8 - 85.9 million VND/tael (buy - sell).
At the current price, the price of SJC gold bars is 4.62 million VND/tael higher than the world gold price, while the price of gold rings is 3.42 million VND/tael higher.
Source: https://tuoitre.vn/gia-vang-giam-soc-xuyen-thung-nguong-2-700-usd-ounce-20241212223334546.htm
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