DNVN - In line with developments in the international market, the domestic price of SJC gold rings and gold bars on the morning of December 10 maintained a slight increase.
At 9:00 a.m., DOJI Gold and Gemstone Group recorded the price of gold rings ranging from 83.7 to 84.7 million VND per tael (buy - sell), an increase of 200,000 VND per tael in both directions compared to yesterday's closing price.
At Saigon Jewelry Company (SJC), the price of gold rings was adjusted to 83.1 - 84.6 million VND per tael (buy - sell), an increase of 400 thousand VND per tael in both buying and selling directions compared to the previous session.
For SJC gold bars, the price also increased, with the listed price at SJC being 83.1 - 85.6 million VND per tael (buy - sell), an increase of 400 thousand VND per tael compared to the previous day.
DOJI Group also announced the price of SJC gold bars at 83.1 - 85.6 million VND per tael (buy - sell), recording an increase of 400 thousand VND per tael in both buying and selling directions.
In the international market, Asian gold prices increased on December 9 as the People's Bank of China (PBoC) restarted gold purchases after a 6-month pause. In addition, investors are waiting for inflation data from the US this week to predict the next move of the US Federal Reserve (Fed).
In the afternoon trading session on December 9, the spot gold price increased by 0.3% to 2,639.98 USD per ounce. At the same time, the US gold futures price inched up by 0.1% to 2,661.70 USD per ounce.
Gold prices were boosted by news that the PBoC had restarted gold purchases in November 2024, according to IG market strategist Yeap Jun Rong. “This news gives an advantage to investors who believe in the outlook for gold, because they know that the PBoC is ‘backing’ the gold price,” he said.
The PBoC’s resumption of gold purchases is expected to boost investment demand from China, which has been weak since the bank halted an 18-month gold buying streak in May 2024.
OCBC analysts assessed that the decision to increase gold holdings, especially after Donald Trump won the recent election, reflects the PBoC's proactive strategy to maintain economic stability amid the changing global environment.
Factors such as increased central bank purchases, loose monetary policy and geopolitical tensions have pushed gold prices to record highs multiple times this year. At the same time, gold is on track for its best year since 2010, up nearly 28% so far.
Traders now continue to await US inflation data, due to be released on December 11.
Cao Thong (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-trong-nuoc-ngay-10-12-tiep-tuc-xu-huong-tang-nhe/20241210095542951
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