Gold price this afternoon December 12, 2024: Gold ring and gold bar prices increased along with world gold prices
Gold price this afternoon, December 12, 2024: Gold ring and gold bar prices both increased sharply to the highest level in the past month. Influenced by the increase in world gold prices breaking the psychological threshold of 2,700 USD
Domestic gold price this afternoon December 12, 2024
At 2:30 p.m. on December 12, 2024, gold prices at some gold and gemstone companies had a notable change. Specifically, the SJC gold price at Saigon Jewelry Company (SJC) was listed at VND 84.6 million/tael for buying and VND 87.1 million/tael for selling.
Compared to yesterday, SJC gold price has increased by 200 thousand VND/tael in both buying and selling directions.
At DOJI Company, the price of 9999 gold today is listed at 84.8 million VND/tael for buying and 87.3 million VND/tael for selling, an increase of 400 thousand VND/tael compared to the opening price of the trading session yesterday morning.
The difference between the buying and selling price of SJC gold at DOJI is currently at 2.5 million VND/tael.
In addition, large enterprises such as Phu Nhuan (PNJ), Phu Quy Group, DOJI Group and Bao Tin Minh Chau also simultaneously raised the price of SJC gold bars to over 87 million VND/tael. The buying price of gold bars at these companies is commonly at 84.6 million VND/tael.
Mi Hong Company kept the buying price of gold bars at 84.9 million VND/tael, but reduced the selling price by 200 thousand VND, currently at 86 million VND/tael.
For gold rings, the price of 99.99 SJC gold rings of 1-5 chi ranged from 84.5 million VND/tael (buy) to 85.9 million VND/tael (sell), an increase of 200 thousand VND compared to yesterday.
Other gold and gemstone businesses also adjusted the price of gold rings by 100,000 to 300,000 VND. After the adjustment, Bao Tin Minh Chau listed the price of gold rings at 84.68 million VND/tael for buying and 86.18 million VND/tael for selling; PNJ commonly traded at 84.8 million VND/tael for buying and 85.9 million VND/tael for selling; Phu Quy listed the price at 84.7 million VND/tael for buying and 86.1 million VND/tael for selling; Mi Hong had the price of gold rings from 84.8 million VND/tael for buying and 85.6 million VND/tael for selling.
| Today (December 12, 2024) | Yesterday (December 11, 2024) | |||
| Purchase price | Selling price | Purchase price | Selling price | |
| SJC | 84,600 ▲200 | 87,100 ▲200 | 84,400 | 86,900 |
| DOJI Hanoi | 84,800 ▲400 | 87,300 ▲400 | 84,400 | 86,900 |
| DOJI SG | 84,800 ▲400 | 87,300 ▲400 | 84,400 | 86,900 |
| BTMC SJC | 84,800 ▲400 | 87,300 ▲400 | 84,400 | 86,900 |
| Phu Quy SJC | 84,600 | 87,100 | 84,600 | 87,100 |
| PNJ HCMC | 84,800 ▲200 | 85,900 ▲100 | 84,600 | 85,800 |
On December 12, the price of gold bars and gold rings increased simultaneously at most gold brands. Gold bars had the highest increase of 400 thousand VND/tael in both buying and selling directions, while gold rings increased by 200 thousand VND/tael in both buying and selling directions.
World gold price this afternoon December 10, 2024
On the afternoon of December 12, 2024, the spot gold price on the world market reached 2,713.3 USD/ounce, while the gold futures price was 2,747.9 USD/ounce.
Gold prices rose after the US Labor Department released its November consumer price index (CPI), which showed inflation at 2.7%, slightly higher than October's 2.6%.
However, this inflation level remains stable and does not increase too high, which strengthens the possibility that the US Federal Reserve (Fed) will continue to cut interest rates at its upcoming meeting.
Inflation has not picked up sharply but remains steady, which will allow the Fed to continue easing monetary policy, said David Meger, Director of Metals Trading at High Ridge Futures.
Currently, the market predicts a 96% chance that the Fed will cut interest rates by another 0.25 percentage points at its meeting on December 17-18.
Previously, this rate was only about 86%. Investors are waiting for more information from the producer price index (PPI) to better understand the Fed's future interest rate cut plan.
Gold prices could hit a new record high in 2025, as US government bond yields ease and geopolitical factors remain a major driver of gold prices, according to Nitesh Shah, a currency strategist at WisdomTree. He predicts gold prices could hit $3,000 an ounce by the end of next year.
Meanwhile, China's yuan weakened after reports that the country's monetary authorities were considering letting the currency depreciate to counter the risk of a trade war with the United States.
A weaker yuan could also cause other Asian currencies to fall, creating jitters in financial markets, making gold a safer investment choice.
Technically, the February gold futures market is currently showing strong signs of buying. The next target for gold is to break above the resistance level of $2,826.30/oz. Conversely, sellers will look to push the price below the support level of $2,650/oz.
