Surveying the domestic gold market this morning, gold prices today (January 2, 2024) are stable.
Accordingly, today's SJC gold price in Hanoi and Da Nang area is 71 - 74.02 million VND/tael (buy - sell). 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.
Latest gold price today January 2: Gold price continues to move sideways.
At Bao Tin Minh Chau Co., Ltd., SJC gold is traded at 70.50 - 73.90 million VND/tael (buy - sell). At Bao Tin Manh Hai, it is being traded at 70.00 - 74.20 million VND/tael (buy - sell).
DOJI gold price today in Hanoi area is buying at 68 million VND/tael and selling at 74 million VND/tael. DOJI Ho Chi Minh City listed the buying and selling price of gold 1 million VND higher than the Hanoi area.
PNJ gold price today is listed at 70 million VND/tael purchased and 73.9 million VND/tael sold.
The world gold price at dawn this morning according to Vietnam spot time was at 2,062,970 USD/ounce. Converted at the current exchange rate at Vietcombank, world gold is priced at about 59,611 million VND/tael (excluding taxes and fees).
Thus, SJC's gold bar price is still higher than the international gold price of 11,389 million VND/tael.
World gold prices tend to move sideways because gold markets in many countries are closed during the New Year holiday.
According to Reuters, the decision to adjust interest rates by the US Federal Reserve (Fed), continued geopolitical risks, and purchasing activities of central banks will continue to push gold prices to a new record high. in this year.
In the first half of 2023, world gold prices are almost trading at low levels due to the impact of the banking crisis in the US at the beginning of the year.
In October 2023, gold prices traded at a low of 1,800 USD/ounce. But then, due to increased safe haven demand due to the Israel-Hamas conflict, gold prices increased again.
On December 4, 2023, world gold prices reached a new record of 2,135 USD/ounce as investors expected the Fed's monetary policy easing early this year. Gold prices in 2023 increase by 13%, the best level since 2020.
The dollar index is down 2% in 2023, while US 10-year government bond yields are near their lowest levels since July. These are all beneficial factors for gold prices.
Conflict in the Middle East, uncertainty from elections in major economies and central bank buying led by China will also boost gold's appeal, analysts predict. bars next year.
Heraeus Metals forecasts higher demand for gold jewelry in the largest gold consuming country, China, this year, from consumption stimulus measures.
