Gold price on January 6, 2025: Opportunity to surpass the $3,000/ounce mark?

DNVN - Gold in 2025 is likely to reach a price of over 3,000 USD/ounce, however, this will depend a lot on policies from the Fed.

Domestic gold market

SJC is currently listed by Saigon Jewelry Company at 84 million VND/tael for buying and 85.5 million VND/tael for selling. This price remains the same as before with a difference of 1.5 million VND between the two directions.

At DOJI, the price of 9999 gold today also remained unchanged when it was recorded at 84 million VND/tael for buying and 85.5 million VND/tael for selling.

Mi Hong Company listed the price of SJC gold at 84.8 million VND/tael for buying and 85.5 million VND/tael for selling, remaining stable as the previous day.

State-owned commercial banks, including Vietcombank, Vietinbank, Agribank, and BIDV, all listed SJC gold bars at VND85.5 million/tael.

For gold rings, SJC buys at VND84 million/tael and sells at VND85.3 million/tael. DOJI's Hung Thinh Vuong 9999 gold rings are traded at VND84 million/tael for buying and VND85 million/tael for selling.

PNJ recorded the buying price of gold rings at VND84.4 million/tael and the selling price at VND85.5 million/tael, an increase of VND500,000 compared to the session on January 4. Currently, the buying price of gold rings and gold bars in the country is balanced, while the difference in selling price is insignificant.

International gold market

According to Kitco, at 5 a.m. today (Vietnam time), the world gold price stood at 2,639.91 USD/ounce, unchanged from the previous day. If converted according to the free USD exchange rate (25,770 VND/USD), the world gold price is currently around 82 million VND/tael (excluding taxes and fees). Thus, the domestic SJC gold bar price is 3.5 million VND/tael higher than the international gold price.

Gold, after growing 27% in 2024, continues to attract great attention from experts and investors, with forecasts that it could reach $3,000/ounce this year.

Gold Price Forecast 2025

Chantelle Schieven, Head of Research at Capitalight Research, is bullish on the gold market this year, predicting that gold prices will range between $2,500 and $2,700 an ounce in the first half of the year, before breaking out and surpassing $3,000 an ounce by the end of 2025.

“Global trade wars” and geopolitical tensions are expected to slow economic growth in the second half of the year, while keeping inflation above 3%. This backdrop will create favorable conditions for gold prices to rise further, Ms. Schieven stressed.

Fawad Razaqzada, an analyst at City Index, said gold will face short-term pressure from a stronger US dollar, rising bond yields and weaker demand from Asia. However, he believes the $3,000 an ounce mark is still achievable, with prices expected to rise sharply in the second half of 2025.

In a report by MKS PAMP, Head of Precious Metals Research Nicky Shiels predicts that gold prices in 2025 will be in the range of 2,500-3,200 USD/ounce, greatly influenced by the policy decisions of the US Federal Reserve (Fed).

Whether gold prices will rise above $3,000 an ounce or fall to $2,500 an ounce depends on whether the Fed can keep up with inflation, according to Ms. Shiels. She predicts the Fed will not be able to keep up, leading to lower real interest rates and a weaker dollar later this year.

Despite the pressure from a stronger US dollar and tightening monetary policy, gold remains an important part of any portfolio. Central bank de-dollarization, global debt and geopolitical uncertainty ensure that gold will continue to be a safe haven this year.

Cao Thong (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-6-1-2025-co-hoi-vuot-moc-3-000-usd-ounce/20250106093414436