LIVE UPDATE TABLE OF GOLD PRICE TODAY 12/5 AND EXCHANGE RATE TODAY 12/5
| 1. PNJ - Updated: December 4, 2023 21:30 - Website supply time - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 61,600 | 62,800 |
| HCMC - SJC | 73,200 ▲500K | 74,300 ▲400K |
| Hanoi - PNJ | 61,600 | 62,800 |
| Hanoi - SJC | 73,200 ▲500K | 74,300 ▲400K |
| Da Nang - PNJ | 61,600 | 62,800 |
| Da Nang - SJC | 73,200 ▲500K | 74,300 ▲400K |
| Western Region - PNJ | 61,600 | 62,800 |
| Western Region - SJC | 73,100 ▲400K | 74,200 ▲200K |
| Jewelry gold price - PNJ rings (24K) | 61,600 | 62,750 |
| Jewelry Gold Price - 24K Jewelry | 61,500 | 62,300 |
| Jewelry Gold Price - 18K Jewelry | 45,480 | 46,880 |
| Jewelry Gold Price - 14K Jewelry | 35,200 | 36,600 |
| Jewelry Gold Price - 10K Jewelry | 24,670 | 26,070 |
Domestic gold prices increased simultaneously on the morning of December 4.
Specifically, in the Hanoi market, DOJI Gold and Gemstone Group listed the price of SJC gold at 73-74.5 million VND/tael (buy - sell), an increase of 700 thousand VND/tael for buying and an increase of 500 thousand VND/tael for selling compared to the closing price last weekend.
Phu Quy Jewelry Group listed the price of SJC gold at 72.9 - 74.3 million VND/tael (buy - sell), an increase of 150 thousand VND/tael for buying and an increase of 500 thousand VND/tael for selling compared to the closing price last weekend.
Saigon Jewelry Company listed the price of SJC gold at 73 - 74.2 million VND/tael, an increase of 300 thousand VND/tael for buying and 400 thousand VND/tael for selling compared to the closing price of the last session.
In the context of domestic gold bar prices once again conquering the all-time peak of 74.6 million VND, even briefly reaching a new mark of 74.7 million VND/tael on the morning of December 4, analysts and investors believe that if the current increase is maintained, this will be the most profitable asset in 2023.
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| Gold price today December 5, 2023: Gold price skyrocketed, reaching an all-time high, investors rushed to take profits, SJC gold was the most profitable. (Source: Reuters) |
Meanwhile, on the world market, on the afternoon of December 4, the world gold price increased to a new record high due to the market's increasing optimism that the US Federal Reserve (Fed) will cut interest rates in 2024.
During the trading session on the COMEX floor (USA), the price of gold at one point increased to an all-time high of 2,135.39 USD/ounce. Profit-taking was then carried out, causing the price of this precious metal to be traded at 2,069.01 USD/ounce.
Summary of SJC gold prices at major domestic trading brands at the closing time of December 4:
Saigon Jewelry Company listed the price of SJC gold at 73.0 - 74.2 million VND/tael.
Doji Group currently lists the price of SJC gold at: 72.9 - 74.3 million VND/tael.
PNJ system listed at: 73.2 - 74.3 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at: 73.04 - 74.15 million VND/tael; Rong Thang Long gold brand is traded at 61.98 - 63.13 million VND/tael; jewelry gold price is traded at 61.70 - 62.90 million VND/tael.
Thus, although in the session of December 4, the domestic gold price fluctuated strongly, compared to the early morning of December 4, the closing price of SJC gold in the Hanoi market was listed by Saigon Jewelry Company unchanged in both buying and selling prices.
According to World & Vietnam Newspaper , at 8:03 p.m. on December 4 (Vietnam time), the world gold price on Kitco floor was at 2,068.3 - 2,069.3 USD/ounce, down 2.7 USD/ounce compared to the previous trading session.
Converted according to the USD price at Vietcombank on December 4, 1 USD = 24,405 VND, the world gold price is equivalent to 60.84 million VND/tael, 13.36 million VND/tael lower than the selling price of SJC gold.
Gold price increased dramatically before plunging down
World gold prices rose to an all-time high, boosted by a decline in the US dollar as traders increased bets that the US Federal Reserve (Fed) will cut interest rates next year.
According to information on the FT page, according to LSEG data, the safe-haven asset increased by 3% to 2,135 USD/ounce at the beginning of the trading session on December 4, a new record, before falling to 2,066 USD/ounce in the following session.
The latest gains were driven by a 3.1% decline in the dollar against a basket of six other currencies since early November, leaving the greenback slightly above its lowest level in nearly four months. The decline — along with a decline in U.S. Treasury yields since mid-October — comes as investors become increasingly confident that the Fed will cut borrowing costs early next year.
Gold’s rise is the latest leg of a strong rally that began last November, fueled by central bank buying and investor concerns about conflicts in Ukraine, Israel and Gaza. That demand has lifted prices of the precious metal, despite rising real interest rates for most of the past year — something that is generally thought to reduce demand for non-yielding bullion.
Gold prices are benefiting as traders have rushed to buy gold in recent weeks to preserve their assets amid concerns over the continuing conflict between the Islamic Hamas Movement and Israel, analysts said.
Markets are betting on a U.S. interest rate cut, and gold prices could go higher and will rise on signs of a recession, said Kyle Rodda of investment site Capital.com.
Concerns about the unstable global economic environment and the Hamas-Israel conflict have boosted investor demand for safe-haven assets such as gold, said Victoria Scholar , head of investment at British financial firm Interactive Investor.
Additionally, expectations of a Fed rate cut next year have put downward pressure on the US dollar, which is trading around a three-month low, adding to gold's appeal.
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