DNVN - Domestic gold prices on the morning of December 31 continued to decrease slightly, similar to fluctuations in the world market.
At 9:00 a.m., DOJI Gold and Gemstone Group announced that the buying and selling prices of SJC gold bars were respectively VND82.3 and VND84.3 million/tael, down VND200,000/tael compared to yesterday's closing price.
At Saigon Jewelry Company (SJC), the listed price of SJC gold bars is 82.2 - 84.2 million VND/tael (buy - sell), down 300 thousand VND/tael in both directions.
Similarly, the selling price of gold rings also decreased. SJC Company listed the price of gold rings at 82.2 - 84 million VND/tael, down 300 thousand VND/tael in both directions compared to the previous session.
In contrast, DOJI Group kept the listed price of gold rings at 83.3 - 84.3 million VND/tael, unchanged from the previous closing price.
World gold prices fell on December 30 as investors awaited new signals that could impact the Fed's interest rate forecast in 2025.
At 1:42 a.m. on December 31 (Vietnam time), spot gold prices fell 0.6% to $2,604.49/ounce, while US gold futures prices fell 0.5% to $2,618.10/ounce.
"The decline could be attributed to quiet holiday trading and some profit-taking ahead of the end of the year," said Peter Grant, vice president and senior strategist at Zaner Metals.
Geopolitical tensions will continue to escalate in 2025, prompting central banks to buy more gold, he said. He also said the US debt situation could worsen, while the budget deficit would increase under President-elect Donald Trump, creating stronger demand for gold as a safe-haven asset.
Next week, the US is expected to release many important economic data such as job openings, private employment report, minutes of the December 2024 Fed meeting, and the employment report. The market will closely monitor these data to assess the health of the world's largest economy.
In 2024, gold prices rose sharply, reaching a record of $2,790.15/ounce on October 31, 2024, as investors sought safe assets amid geopolitical uncertainty and interest rate cuts in the US.
Earlier this month, Fed Chairman Jerome Powell expressed a cautious stance on interest rates after the central bank cut another 25 basis points, a move in line with market expectations.
Gold is often viewed as a safe haven investment in times of political and financial uncertainty. However, the price of gold is highly sensitive to US interest rate policies, as higher interest rates tend to boost the value of the US dollar but reduce the appeal of non-yielding assets such as gold.
Viet Anh (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-31-12-2024-giam-trong-ngay-cuoi-cung-cua-nam/20241231103840298
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