Gold prices on December 27th: Ring gold prices surge by 1 million VND per tael.
The gold market on December 27th witnessed a strong surge in both gold bars and gold rings, with Bao Tin Minh Chau brand gold jumping by 1 million VND. World prices are currently approaching their peak of 4,560 USD.
The domestic gold market on December 27th witnessed a surge in prices, especially in the plain gold ring segment. Meanwhile, world gold prices also maintained a strong upward trend, approaching new record highs thanks to safe-haven demand and expectations regarding the monetary policy of the US Federal Reserve (Fed).
Gold rings surge, gold bars follow suit.
In the domestic market, the price of SJC gold bars recorded a significant upward adjustment. Major businesses such as SJC, PNJ, and Bao Tin Minh Chau all listed the buying price at 157.4 million VND/ounce and the selling price at 159.4 million VND/ounce. Compared to the morning session of December 26th, this price has increased by 600,000 VND/ounce in both directions.
At other systems, DOJI gold bars increased by 400,000 VND/ounce, currently trading around 157.2 - 159.2 million VND/ounce. Phu Quy listed the buying price at 156.2 million VND/ounce and the selling price at 159.2 million VND/ounce, corresponding to an increase of 400,000 VND/ounce.
Gold ring prices show significant fluctuations.
The focus of today's market session was on gold rings, which significantly outperformed gold bars:
| Trademark | Buying price (million VND/ounce) | Selling price (million VND/ounce) | Change (compared to yesterday) |
|---|---|---|---|
| Bao Tin Minh Chau | 156.3 | 159.3 | +1,000,000 VND |
| Phu Quy | 155.2 | 158.2 | +700,000 VND |
| SJC | 152.8 | 155.8 | +200,000 VND |
| DOJI / PNJ | 154.0 | 157.0 | Unchanged |
The world reaches new highs amid geopolitical instability.
On the international market, spot gold prices traded around $4,533 per ounce, up 1.21% (equivalent to $54.4 per ounce) in the past 24 hours. Notably, February gold futures briefly touched a record high of $4,562.70 per ounce before closing at $4,557.40 per ounce.
This upward trend was strongly supported by geopolitical tensions. The US blockade of oil tankers linked to Venezuela and military operations in Nigeria prompted investors to seek refuge in precious metals as a safe haven. Additionally, the weakening of the US dollar fueled the surge in gold and silver (March silver futures reached a new record high of $75.84 per ounce).
Expert analysis
Giovanni Staunovo, an analyst at UBS, commented: "The prospect of lower interest rates in the US is boosting demand for gold and silver. However, low liquidity at the end of the year is increasing volatility in the precious metals market."
Currently, the gap between domestic and international gold prices remains high. Converted using the Vietcombank exchange rate, the world gold price is equivalent to approximately 144.2 million VND/ounce (excluding taxes and fees), which is about 15.2 million VND/ounce lower than the price of SJC gold bars in Vietnam. Experts predict gold is heading towards its strongest growth year since 1979 if the Fed continues its interest rate cutting trajectory next year.
