DNVN - After President Donald Trump's inauguration, the world gold price on January 20, 2025 is forecast to reach the mark of 2,800 USD/ounce, as his new policies could trigger the growth of this precious metal.
Domestic gold price is stable
After a period of strong fluctuations, domestic gold prices have stabilized. Currently, the listed gold prices of brands are as follows:
The price of gold bars of different brands is currently trading at VND84.9 million/tael for buying and VND86.9 million/tael for selling. Meanwhile, Phu Quy SJC buys VND200,000 lower than other brands.
The price of gold rings of various brands also remained the same as this morning. Specifically, the price of SJC 9999 gold rings was listed at 84.6 million VND/tael for buying and 86.3 million VND/tael for selling.
DOJI in Hanoi and Ho Chi Minh City maintained this morning's buying and selling prices at VND84.6 million/tael and VND86.2 million/tael.
The buying and selling prices of PNJ brand gold rings are stable at VND85 million/tael and VND86.9 million/tael.
Bao Tin Minh Chau listed the price of plain round rings at 84.9 million VND/tael for buying and 86.85 million VND/tael for selling, unchanged from this morning.
Phu Quy SJC is buying gold rings at 84.5 million VND/tael and selling at 86.2 million VND/tael.
World gold price
According to Kitco, the world gold price at 5 a.m. today (Vietnam time) was recorded at 2,702.18 USD/ounce. Today's gold price is unchanged compared to yesterday. Converted according to the USD exchange rate on the free market (25,530 VND/USD), the world gold price is about 83.1 million VND/tael (excluding taxes and fees). Therefore, the price of SJC gold bars is currently about 4.2 million VND/tael higher than the international gold price.
Gold prices rose sharply last week as investors expected Donald Trump to follow through on his tariff pledges shortly after his inauguration. This could lead to a sharp rise in inflation while the Fed keeps interest rates unchanged, thereby reducing real interest rates and supporting gold prices next week.
Jesse Colombo, an independent precious metals analyst and founder of the BubbleBubble Report, said that gold’s rise against other currencies signals what investors can expect. He added that gold could hit an all-time high of above $2,800 an ounce, with the biggest resistance level for gold now being $3,000 an ounce.
Meanwhile, Michael Langford, investment director at Scorpion Minerals, stressed that increased volatility from the new administration and policies are making gold an attractive investment channel in the short term.
Gold prices could hit $3,200 an ounce this year, according to Ross Norman, CEO of Metals Daily.
The expert also predicted that although the rising USD and Treasury yields could slow down the gold price increase, when the “handbrake” is released, the gold price will increase strongly again. The reason for the increase in gold price is thanks to central bank buying and OTC derivatives activities in Asia.
Norman predicts the average spot gold price will reach $2,888/ounce in 2025, with a high of $3,175/ounce and a low of $2,630/ounce.
Cao Thong (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-20-1-2025-vang-chuan-bi-tang-manh/20250120081358342
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