In the world, as of 7:00 p.m. on December 25 (Vietnam time), the spot gold price today on the world market was at 2,619 USD/ounce. Gold for February 2025 delivery on the Comex New York floor was at 2,635 USD/ounce.

The world gold price on the night of December 25 was about 27% higher (556 USD/ounce) than at the beginning of 2024. The world gold price converted to the bank USD price was 81.3 million VND/tael, including taxes and fees, about 3 million VND/tael lower than the domestic gold price as of the end of the afternoon session on December 25.

Gold prices on the international market are flat due to the Christmas and New Year holidays. What will be the trend of precious metals after the holidays when the peak season for gold consumption is coming and central banks of many countries, including China, have plans to pump money?

In recent trading sessions, gold prices have held steady above the $2,600/ounce threshold (equivalent to VND80.8 million/tael) after the USD showed signs of cooling down. The plunge on December 19 from $2,640/ounce was stopped at the support level of $2,580/ounce.

World gold prices staying above the $2,600 threshold have helped domestic gold prices stabilize above VND82 million/tael (buy) and VND84 million/tael (sell).

In the domestic market, at the end of the session on December 25, the price of 9999 gold bars at SJC and Doji was listed at 82.3-84.3 million VND/tael (buy - sell), unchanged from the previous session.

SJC announced the price of gold rings of type 1-5 at only 82.3-84.1 million VND/tael (buy - sell). Doji listed the price of 9999 round gold rings at 83.3-84.3 million VND/tael (buy - sell), equal to the previous session.

Thus, the gold price has been stable for 3 consecutive sessions and the price of round smooth gold rings is still at a level almost equal to the price of SJC gold bars.

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Gold prices have been moving sideways in recent trading sessions. Photo: HH

Gold Price Forecast

The world gold price is currently under considerable selling pressure due to the lack of strong supporting information in the precious metals market. The possibility of the USD weakening rapidly in 2025 is no longer there. Escalating geopolitical instability is also not something investors are betting on at the moment.

Donald Trump's transition team is looking for ways to end conflicts in Ukraine and the Middle East.

The trade war between the US and many countries, including China, may not be too intense. Mr. Donald Trump only sees tariffs as a negotiating tool. If the trade deficit improves, the trade war will likely not be too fierce.

Gold is also under pressure as it tests the EMA50. There are negative signals and gold prices may continue their downtrend in the short term. The immediate target may be to break through the psychological support level of $2,600/ounce, then move towards $2,550/ounce.

However, the $2,550/ounce threshold is considered a very strong support level. Previously, the gold price plummeted but rebounded to $2,540/ounce in mid-November. This was also the month when China returned to net gold purchases after a 6-month hiatus.

In the long term, gold is still expected to rise as inflation signals rise again globally. The West has seen inflation return, while many Asian countries have stepped up monetary easing and have plans to pump money.

China plans to issue more than $400 billion in special bonds to pump into the economy in 2025.

Gold is expected to benefit in the first quarter of 2025 when President-elect Donald Trump takes office. Trump's erratic statements and policies could cause financial markets to fluctuate and gold prices to rise.

Gold price forecast in 2025 may reach 93 million/tael, when to choose to invest? Gold ring price is predicted by experts to increase to 90 million VND/tael, SJC gold may reach 92-93 million VND/tael in 2025. So, when is a good time to "put money" to buy gold?