ANTD.VN - World gold prices have not fluctuated much, but domestic SJC gold prices have suddenly increased sharply, approaching a historical peak after many sessions of almost standing still.
In yesterday's trading session, the domestic gold market caused a surprise in the afternoon when it broke the relatively quiet and gloomy state that had lasted since the end of last week. SJC gold prices increased sharply with an increase of about 600 thousand VND per tael, close to the all-time high set at the end of last year.
In the morning session, the national gold brand continued to maintain this high price. Specifically, Saigon Jewelry Company (SJC) listed the price of gold bars at 74.90 - 77.40 million VND/tael; DOJI Group, SJC gold also listed a very high price, at 74.85 - 77.35 million VND/tael;
Similarly, PNJ is also trading gold bars at 74.90 - 77.40 million VND/tael; Phu Quy SJC 74.90 - 77.30 million VND/tael; Bao Tin Minh Chau 74.95 - 77.30 million VND/tael...
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SJC gold price continues to stay high |
For 9999 gold, yesterday's session did not fluctuate too much and this morning continued to maintain the same increase as yesterday, which is 50 thousand VND per tael. Accordingly, SJC 99.99 rings are listed at 62.95 - 64.15 million VND/tael; PNJ gold 62.80 - 64.15 million VND/tael; Bao Tin Minh Chau's Thang Long Dragon Gold 64.06 - 65.16 million VND/tael...
In the world, gold prices continued to increase slightly, closing the trading session on January 30 (early this morning, Vietnam time) with an increase of less than 2 USD per ounce, to over 2,033 USD/ounce.
The gold market is still trading quite firmly in a narrow range, as it awaits some guidance from the US Federal Reserve (Fed) at its upcoming meeting. The Fed is expected to keep interest rates unchanged and maintain a cautious stance when it comes to when it will cut. Therefore, gold prices are not expected to fluctuate too much after this meeting.
As for the outlook for gold prices, experts predict that gold prices will be positive this year, but the precious metal will not be able to break out to break the old record in the short term. Because although the Federal Reserve is expected to cut interest rates this year, the gold market seems to have gotten ahead of itself because it has priced in earlier and more aggressive easing than is likely to happen.
The Fed is still focused on inflation because the threat has not gone away as economic activity remains quite strong, driven by solid consumer demand. At the same time, US consumers are living beyond their means, spending on credit, which could pose a significant threat to future growth.
With the Fed likely to be more cautious than the market expects, according to some experts, gold prices are likely to see a few drops below $2,000/ounce in the first half of this year before rising strongly again.
However, gold is unlikely to be sold off and any dips will be a buying opportunity for the precious metal, as economic, geopolitical and military conditions this year remain uncertain.
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