DNVN - SJC gold price on the morning of January 5, 2025 remained stable at around 85 million VND/tael for sale.
Domestic gold price
Domestic gold prices continued to remain stable as the prices of gold bars and gold rings of most brands did not fluctuate compared to yesterday. Below are the details of gold prices of some brands:
Gold bars from these brands are currently bought at VND84 million/tael and sold at VND85.5 million/tael. In particular, gold bars from Phu Quy SJC and Bao Tin Minh Chau have a buying price VND100,000/tael higher than other brands.
Similarly, the price of gold rings of the brands remains stable. SJC 9999 gold rings are currently listed at VND84 million/tael for buying and VND85.3 million/tael for selling, unchanged from the previous day.
At the DOJI system, the price of gold rings in both Hanoi and Ho Chi Minh City remained at VND84.55 million/tael for buying and VND85.5 million/tael for selling.
PNJ brand gold rings are listed with a buying price of 84.4 million VND/tael and a selling price of 85.5 million VND/tael.
Bao Tin Minh Chau has adjusted the price of plain round gold rings with the buying price at 84.6 million VND/tael and the selling price at 85.7 million VND/tael, down 100,000 VND in the selling price compared to the previous day.
Phu Quy SJC recorded the buying price of gold rings at 84.3 million VND/tael and the selling price at 85.5 million VND/tael, down 100,000 VND in both directions.
World gold price
According to Kitco, at 5:00 a.m. this morning, Vietnam time, the world spot gold price reached 2,639.91 USD/ounce, up 0.09% compared to the previous session. With the USD exchange rate on the free market at 25,770 VND/USD, the converted world gold price reached about 82 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is currently about 3.5 million VND/tael higher than the international gold price.
Gold prices have risen 27% over the past year, marking the strongest growth since 2010. Safe-haven demand and loose monetary policies from central banks have been key drivers of the precious metal's rise.
Experts say that gold's performance this year will be affected by fluctuations in the US dollar. Forecasts show that the strength of the greenback could put pressure on gold prices in the first half of 2025. Currently, the US Dollar Index has surpassed 109 points, the highest level since November 2022.
Some analysts predict the dollar could continue to rise this year as strong US economic growth forces the Fed to maintain tighter monetary policy, which could limit gold's gains.
However, experts still expect gold prices to reach $3,000/ounce by the end of this year. Forecasts also suggest that in the first half of the year, gold prices may remain in the accumulation zone and are unlikely to make a strong correction.
Many analysts note that the negative correlation between gold and the US dollar is weakening as central banks continue to increase their gold reserves at record levels.
“Gold remains an attractive safe-haven asset for central banks as they continue to diversify their portfolios away from the U.S. dollar,” George Milling-Stanley, chief strategist at State Street Global Advisors, told Kitco News in an interview.
Some have also suggested that Donald Trump’s tax proposals could accelerate the de-dollarization trend among emerging market central banks. “Central banks, primarily in emerging markets, account for more than 15% of total end-user demand, and that trend could continue for the next 14 years,” Milling-Stanley said.
Cao Thong (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-5-1-2025-sjc-dao-dong-quanh-muc-85-trieu-dong-luong/20250105091002160
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