Gold price today, January 16, 2025, increased sharply on the international market, up to nearly 2,700 USD/ounce, causing domestic gold prices to increase sharply. SJC gold bars increased by nearly 1 million per tael (sold) to 87 million VND, plain rings were more expensive by 400,000 VND.
Domestic gold ring prices this morning were adjusted by brands to increase following world gold prices.
Saigon Jewelry Company (SJC) early this morning raised the buying price of 1-5 chi gold rings to 84.8-86.5 million VND/tael (buying - selling), an increase of 300 thousand VND per tael for buying and 400 thousand VND per tael for selling compared to yesterday's closing price.
Similarly, Doji Gold and Gemstone Group early this morning also raised the buying and selling price of 9999 gold rings to 85-86.5 million VND/tael, an increase of 200,000 VND per tael in both buying and selling compared to yesterday's closing price.
| Buy (VND/tael) | Increase/decrease | Sell (VND/tael) | Increase/decrease | |
| SJC | 84,800,000 | + 300,000 | 86,500,000 | + 400,000 |
| Doji | 85,000,000 | + 200,000 | 86,500,000 | + 200,000 |
SJC and Doji gold ring price list updated on the morning of January 16
Opening the trading session on January 16 , the price of SJC 9999 gold increased by 400 thousand VND/tael for buying and 900 thousand VND/tael more expensive for selling compared to the closing price of yesterday's trading session, up to 85-87 million VND/tael (buying - selling).
The price of 9999 gold was listed by Saigon Jewelry Company Limited (SJC) at 8:24 a.m. and the price of 9999 gold was listed by Doji Jewelry Group at 8:40 a.m. as follows:
| Buy (VND/tael) | Increase/decrease | Sell (VND/tael) | Increase/decrease | |
| SJC HCMC | 85,000,000 | + 400,000 | 87,000,000 | + 900,000 |
| Doji Hanoi | 85,000,000 | + 400,000 | 87,000,000 | + 900,000 |
| Doji HCMC | 85,000,000 | + 400,000 | 87,000,000 | + 900,000 |
SJC and Doji gold bar price list updated on the morning of January 16
The central exchange rate on January 16 announced by the State Bank was 24,333 VND/USD, down 5 VND compared to the previous trading session. The USD price at commercial banks this morning (January 16) was commonly listed at 25,159 VND/USD (buy) and 25,549 VND/USD (sell).
At 8:31 a.m. today (January 16, Vietnam time) , the world spot gold price was at 2,699.6 USD/ounce, up 14.6 USD/ounce compared to last night. The price of gold futures for February 2025 on the Comex New York floor was at 2,728.8 USD/ounce.
On the morning of January 16 , the world gold price converted to USD bank price was over 83.9 million VND/tael, including tax and fees, about 3.1 million VND/tael lower than the domestic gold price.
As of 8:00 p.m. on January 15 (Vietnam time), the spot price of gold today on the world market was at $2,685/ounce. Gold for February 2025 delivery on the Comex New York floor was at $2,694/ounce.
The world gold price on the night of January 15 was about 30.2% higher (622 USD/ounce) than at the beginning of 2024. The world gold price converted to the bank USD price was VND 83.5 million/tael, including taxes and fees, about VND 3.1 million/tael lower than the domestic gold price as of the end of the afternoon session on January 15.
The price of gold in the international market continues to increase and is forecast to reach 3,000 USD/ounce this year. In the country, the price of SJC gold bars and plain rings is approaching 87 million VND/tael and the threshold of 90 million is not far away.
Global gold prices rose amid a weakening US dollar after weaker-than-expected PPI manufacturing data and new data showing US inflation is on the decline, thereby increasing hopes that the US Federal Reserve (Fed) will continue to cut interest rates.
In the domestic market, at the end of the trading session on January 15, the price of 9999 gold bars at SJC and Doji was listed at 84.6-86.1 million VND/tael (buy - sell), an increase of 200,000 VND compared to the previous session.
SJC announced the price of gold rings of type 1-5 at only 84.5-86.1 million VND/tael (buy - sell). Doji listed the price of 9999 smooth round gold rings at 84.8-86.3 million VND/tael (buy - sell), an increase of 200,000 VND/tael compared to the previous session.
Gold Price Forecast
Although gold has been stuck at $2,700 an ounce for more than a month, experts say there will be no shortage of catalysts to help gold prices rise in 2025.
In a recent interview with Kitco News, Chris Mancini, portfolio manager of the Gabelli Gold Fund, said the main catalyst is the ongoing US economic uncertainty and its impact on consumer prices.
Gold will rise in price due to uncertainty surrounding the US economy and potential inflation, according to Chris Mancini.
Accordingly, inflation in the US is expected to increase as President-elect Donald Trump carries out plans to extend and expand tax cuts and support the manufacturing sector.
Mancini said a global trade war could slow the US economy and weaken the country's labor market. He did not rule out the possibility of a US recession.
Investors should keep an eye on the U.S. labor market, Chris Mancini noted, as the weakness in the labor market has prompted the Fed to cut interest rates even as inflation remains high. Stagflation will boost gold prices.
Gabelli Gold Fund experts believe that increasing economic instability in the US will push gold prices to $3,000/ounce.
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Source: https://vietnamnet.vn/gia-vang-hom-nay-16-1-2025-vang-sjc-nhan-tron-tang-manh-2363696.html
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