Gold price today December 20, 2024: World gold prices "struggle" to maintain the support level of 2,600 USD/ounce. Domestically, the prices of SJC gold bars and gold rings are getting "closer together", in which, although they managed to "turn around" and increase again at the end of December 19, the price still experienced a fairly large decrease.
| 1. PNJ - Updated: December 19, 2024 21:00 - Website supply time - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 83,100 ▼500K | 84,050 ▼650K |
| HCMC - SJC | 82,100 ▼1000K | 84,100 ▼1000K |
| Hanoi - PNJ | 83,100 ▼500K | 84,050 ▼650K |
| Hanoi - SJC | 82,100 ▼1000K | 84,100 ▼1000K |
| Da Nang - PNJ | 83,100 ▼500K | 84,050 ▼650K |
| Da Nang - SJC | 82,100 ▼1000K | 84,100 ▼1000K |
| Western Region - PNJ | 83,100 ▼500K | 84,050 ▼650K |
| Western Region - SJC | 82,100 ▼1000K | 84,100 ▼1000K |
| Jewelry gold price - PNJ | 83,100 ▼500K | 84,050 ▼650K |
| Jewelry gold price - SJC | 82,100 ▼1000K | 84,100 ▼1000K |
| Jewelry gold price - Southeast | PNJ | 83,100 ▼500K |
| Jewelry gold price - SJC | 82,100 ▼1000K | 84,100 ▼1000K |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 83,100 ▼500K |
| Jewelry gold price - Jewelry gold 999.9 | 83,000 ▼500K | 83,800 ▼500K |
| Jewelry gold price - Jewelry gold 999 | 82,920 ▼500K | 83,720 ▼500K |
| Jewelry gold price - Jewelry gold 99 | 82,060 ▼500K | 83,060 ▼500K |
| Jewelry gold price - 916 gold (22K) | 75,860 ▼460K | 76,860 ▼460K |
| Jewelry gold price - 750 gold (18K) | 61,600 ▼380K | 63,000 ▼380K |
| Jewelry gold price - 680 gold (16.3K) | 55,730 ▼340K | 57,130 ▼340K |
| Jewelry gold price - 650 gold (15.6K) | 53,220 ▼330K | 54,620 ▼330K |
| Jewelry gold price - 610 gold (14.6K) | 49,870 ▼300K | 51,270 ▼300K |
| Jewelry gold price - 585 gold (14K) | 47,770 ▼300K | 49,170 ▼300K |
| Jewelry gold price - 416 gold (10K) | 33,610 ▼210K | 35,010 ▼210K |
| Jewelry gold price - 375 gold (9K) | 30,180 ▼180K | 31,580 ▼180K |
| Jewelry gold price - 333 gold (8K) | 26,400 ▼170K | 27,800 ▼170K |
Update gold price today 12/20/2024
World gold prices suddenly recovered to the 2,622 USD/ounce range, but could not hold for long.
Gold prices hit a four-week low and the market is still struggling to stay positive and hold initial support around $2,600 an ounce. The sudden change in the Fed's stance has sent the precious metal lower, with the dollar index and Treasury yields rising sharply.
Previously, there was a time when gold prices plummeted and were sold off to near $2,600/ounce right after the US Federal Reserve (Fed) decided to only cut interest rates by 0.25 points for the third time this year, but only signaled two cuts in 2025. A notable development was that the USD index remained at a high level of over 107.6 points, creating pressure that made it difficult for gold prices to increase strongly again.
Recorded by World & Vietnam Newspaper at 9:05 p.m. on December 19 (Hanoi time) , gold price traded on the Kitco electronic floor at 2,595.8 - 2,596.8 USD/ounce , up 12.2 USD/ounce compared to the previous trading session. Currently, the world gold price converted according to the USD exchange rate listed at commercial banks is about 80.6 million VND/tael.
The gold market is struggling as the Fed cut interest rates for the last time in 2024 and signaled a slower pace of easing through 2025. The Fed reiterated its stance that the economic outlook remains uncertain and risks to its dual mandate are rising.
“Recent indicators suggest that economic activity has continued to expand at a solid pace. Labor market conditions have generally softened since the beginning of the year, and the unemployment rate has edged up but remains low. Inflation has made progress toward the Fed’s 2 percent objective but remains elevated,” Fed officials said in their latest monetary policy statement. With this announcement, the Fed appeared to indicate that its return to a more neutral policy stance will be slower next year.
Updated forecasts showed the US central bank remained upbeat about the health of the economy, even as inflation remained high. The gold market did not react well to what many analysts expected - a hawkish interest rate cut. Gold prices also did not react well to the latest economic data that was not as good as expected, with many figures remaining negative and falling further, the manufacturing business outlook declining, while the new orders and shipments indexes fell and turned negative, and the employment index also fell slightly.
Bitcoin January futures were lower in early U.S. trading on strong profit-taking following recent gains. Despite the losses and pullback from the key psychological level of $100,000, Bitcoin continued to hit record highs this week. The cryptocurrency’s uptrend continues on the daily volume chart. Bulls remain in firm technical control. There are no credible clues yet that a market top is near.
Domestic gold prices fluctuated during the day, but the "bears" won.
The price of SJC gold bars " turned around" and increased again at the end of the session on December 19. However, due to the much larger decrease in the price at the beginning of the day, the closing price decreased by a total of about 900 thousand VND/tael for buying and 1 million VND/tael for selling. Saigon Jewelry Company currently lists the price of SJC gold bars at 82.1 - 84.1 million VND/tael (buy - sell). Currently, the buying price of gold bars and gold rings is the same, while the selling price of gold bars is only 300 thousand VND/tael higher than that of gold rings.
A series of other big brands such as PNJ, DOJI, and Bao Tin Minh Chau also raised prices compared to the beginning of the session, but overall in 1 day, the price of SJC gold bars still "evaporated" about 1 million VND.
The price of 9999 round smooth gold rings dropped rapidly, to the lowest level in the past half month.
Saigon Jewelry Company SJC adjusted the price of gold rings twice in the session of December 19, decreasing at the beginning of the session and increasing slightly at the end of the session, closing the transaction at 82.1 - 83.8 million VND/tael. This is the lowest price of SJC gold rings since December 2. Overall, today, the price of gold rings at SJC decreased by 900 thousand VND/tael in the buying direction and was 700 thousand VND/tael cheaper in the selling direction compared to the closing price yesterday.
Meanwhile, Doji gold price also had 4 adjustments for 9999 gold rings. During the whole day of December 19, the gold ring price at Doji Group was adjusted down by 650 thousand VND/tael in both buying and selling compared to yesterday's closing price, ending the session at 83.05-84.05 million VND/tael.
The price of Bao Tin Minh Chau's Thang Long gold ring also decreased rapidly, currently listed at 83.1 - 84.1 million VND/tael, down 630 thousand VND for buying and 930 thousand VND for selling compared to yesterday.
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| Gold price today December 20, 2024: Gold price 'struggles' to hold on to support level, US economy is not in recession, new price will be 2,900 USD. (Source: Kitco) |
Summary of SJC gold bar prices and plain round gold ring prices at major domestic trading brands at the closing time of the trading session on December 19:
Saigon Jewelry Company SJC: SJC gold bars 82.1 - 84.1 million VND/tael ; SJC gold rings 82.1 - 83.8 million VND/tael.
Doji Group: SJC gold bars 83.9 - 86.4 million VND/tael; 9999 round rings (Hung Thinh Vuong) 83.05 - 84.05 million VND/tael.
PNJ system: SJC gold bars 83.9 - 86.4 million VND/tael; PNJ 999.9 plain gold rings at 83.1 - 84.05 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at 83.9 - 86.4 million VND/tael; plain gold rings are traded at 83.1 - 84.1 million VND/tael.
The US economy is not in recession!
Fed Chairman Jerome Powell used the Federal Open Market Committee’s (FOMC) final interest rate decision of 2024 – and the Fed’s final policy meeting under President Joe Biden – to carefully sidestep the implications of inflationary policies that President-elect Donald Trump’s administration may soon propose.
Mr. Powell began the press conference by noting that the FOMC vote in favor of a 25 basis point rate cut was a close one, but that he and other members believed it was the right decision. "I think today was a close decision, but we think it was the right decision and the best decision to advance the achievement of both our goals, maximum employment and price stability," the Fed chairman said.
Notably, in his speech, Mr. Jerome Powell also pointed out that, despite persistent inflation in some areas - especially housing services and home insurance - the US economy is still in much better shape than most experts predicted two years ago.
"I think it's pretty clear that we've avoided a recession," he said. "Most forecasters have been predicting a slowdown for a very long time, and that hasn't happened. The US economy is doing very, very well, significantly better than our global peer group. And there's no reason to think that a recession is more likely than it should be. So the outlook for the US economy is pretty bright."
Source: https://baoquocte.vn/gia-vang-hom-nay-20122024-gia-vat-lon-vat-bam-nguong-ho-tro-kinh-te-my-khong-suy-thoai-bitcoin-dat-khach-gia-tiep-tuc-cao-ky-luc-297944.html
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