(TBTCO) – On the morning of December 2, the world gold price at one point exceeded the all-time record set in 2020 of 2,075 USD/ounce. Domestically, SJC gold price has been adjusted down by 100,000 VND in both buying and selling directions.
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| Gold price fluctuation chart in the past 24 hours. |
Domestic market
Domestic gold price was adjusted down with the highest reduction of 300,000 VND/tael. Currently, the prices of gold bars for brands are listed specifically as follows.
SJC gold price in Hanoi and Da Nang area is listed at 72.3 million VND/tael purchased and 73.52 million VND/tael sold. In the city. In Ho Chi Minh City, SJC gold is still buying at the same level as in Hanoi and Da Nang areas but selling is 20,000 VND lower. Thus, compared to yesterday morning, SJC gold price has been adjusted down by 100,000 VND in both directions.
DOJI in Hanoi area has adjusted down 100,000 VND on the buying side and 300,000 VND on the selling side to 72.3 million VND/tael and 73.5 million VND/tael, respectively. In the city. In Ho Chi Minh City, this brand’s gold is being bought at a higher price of 50,000 VND but sold at the same level as in the Hanoi area.
Phu Quy SJC is buying gold bars at the price of 72.4 million VND/tael and selling it at 73.5 million VND/tael, a further decrease of 100,000 VND in the selling afternoon compared to yesterday morning.
PNJ gold bar price is listed at 72.4 million VND/tael purchased and 73.6 million VND/tael sold, unchanged from yesterday morning. Meanwhile, Bao Tin Minh Chau adjusted down 30,000 VND on the buying side and 100,000 VND on the selling side to 72.42 million VND/tael and 73.48 million VND/tael, respectively.
World market
The gold price listed on Kitco is at 2,072 USD/ounce, up 37 USD/ounce compared to early yesterday morning. At one point, the price of gold reached 2,076.1 USD/ounce.
Thus, today’s gold price has at one point surpassed the all-time record set in 2020 of 2,075 USD/ounce.
Forecast
Market analyst Everett Millman of Gainesville Coins said that gold had a strong recovery before Christmas and he expected this precious metal to continue that momentum from now until the end of this year.
According to Saxo Bank commodity strategist Ole Hansen, the bank maintains a bullish outlook for gold in 2024 with the belief that interest rates have peaked and Fed funds and real interest rates will begin to decline. downtrend.
Daniel Ghali, commodity strategist at TD Securities, forecasts gold prices will reach new highs in the first half of 2024 as the Fed changes interest rate policy and as the economy slows.
Analyst Tai Wong said that gold prices will decrease in the range of 2,015 – 2,020 USD/ounce. If there are no concerns, gold prices will hardly fall below 2,000 USD/ounce.
According to expert Nicky Shiels from MKS PAMP Group, world gold prices may reach a historic high in the next 10 days, which is around the first week of December 2023.
The upward trend of world gold prices is predicted quite clearly as a weakening USD is inevitable in the context that the US Federal Reserve (Fed) is forecast to cut interest rates for the first time in half. early 2024.
According to experts, the sooner the Fed cuts interest rates, the faster gold will reach a new peak.
With the domestic gold price decreasing slightly and the world gold price anchored at 2,070.6 USD/ounce (equivalent to nearly 61 million VND/tael if converted according to Vietcombank exchange rate, excluding taxes and fees), the difference between domestic gold prices country and the world about 12.6 million VND/tael./.
