Gold price this afternoon December 13, 2024: Gold ring and gold bar prices plummet
Gold price this afternoon, December 13, 2024: Gold ring and gold bar prices plummeted as short-term investors took profits. The difference between buying and selling gold prices is still very high, around 2.5 million VND/tael.
Domestic gold price this afternoon December 13, 2024
At 2:30 p.m. on December 13, 2024, the price of SJC gold bars announced by Saigon Jewelry Company (SJC) was at VND 83.9 million/tael (buy) and VND 86.4 million/tael (sell).
Compared to yesterday morning, this price has decreased by 700 thousand VND/tael in both buying and selling directions. The difference between the buying and selling price of SJC gold here is currently 2.5 million VND/tael.
At DOJI Group, the price of SJC gold bars was also listed at the same level: 83.9 million VND/tael (buy) and 86.4 million VND/tael (sell), down 900 thousand VND/tael compared to the opening session yesterday morning. The difference between buying and selling prices at DOJI remained at 2.5 million VND/tael.
At Bao Tin Minh Chau alone, the price of SJC gold bars is currently at VND83.9 million/tael (buy) and VND86.4 million/tael (sell). This price is down VND900,000/tael compared to yesterday morning, with a buy-sell difference of VND2.5 million/tael.
For gold rings, the price of DOJI's 9999 Hung Thinh Vuong round gold rings is listed at VND83.8 million/tael (buy) and VND84.9 million/tael (sell), down VND1 million/tael in both directions compared to yesterday morning.
Bao Tin Minh Chau also adjusted the price of gold rings, currently at 84.08 million VND/tael (buy) and 85.83 million VND/tael (sell). Compared to yesterday morning, the buying price decreased by 700 thousand VND/tael and the selling price decreased by 450 thousand VND/tael.
| Today (12/13/2024) | Yesterday (12/12/2024) | |||
| Purchase price | Selling price | Purchase price | Selling price | |
| SJC | 83,900 ▼700 | 86,400 ▼700 | 84,600 | 87,100 |
| DOJI HN | 83,900 ▼900 | 86,400 ▼900 | 84,800 | 87,300 |
| DOJI SG | 83,900 ▼900 | 86,400 ▼900 | 84,800 | 87,300 |
| BTMC SJC | 83,900 ▼900 | 86,400 ▼900 | 84,800 | 87,300 |
| Phu Quy SJC | 83,900 ▼700 | 86,400 ▼700 | 84,600 | 87,100 |
| PNJ HCMC | 84,000 ▼800 | 85,200 ▼700 | 84,800 | 85,900 |
Currently, the difference between buying and selling gold prices is around 2.5 million VND/tael. According to experts, this difference is still very high. This means that if investors buy gold and then sell it immediately, it will be difficult to make a profit because the difference between buying and selling is too large, especially when investing for a short period of time.
Since the beginning of the year, the price of plain gold rings has increased sharply, reaching a peak of about VND89 million/tael. Although the current price has decreased by VND4-5 million/tael compared to the peak, compared to the beginning of the year, the price of gold rings is still about 35% higher. Meanwhile, gold bars have also increased in price, with an increase of more than 16% since the beginning of the year.
World gold price this afternoon December 13, 2024
February gold futures fell $21.80 to $2,734.90 an ounce, mainly due to the U.S. producer price index (PPI) report for November showing prices rising faster than expected. Specifically, PPI increased 0.4% compared to the previous month, double the initial prediction of 0.2%.
Although the core PPI (excluding food and energy) rose as expected at 0.2%, the overall annual increase was 3%. This prompted some investors to sell gold and silver to take profits, putting pressure on gold prices.
International factors also affected the market. The Swiss National Bank just cut interest rates by another 0.5 percentage points, almost reaching zero.
The European Central Bank also cut interest rates by 0.25 percentage points as expected. At the same time, the US dollar rose, with the US Dollar Index reaching 106.750 points on the morning of December 13, causing gold prices to fall more than 1%.
Gold prices remain in an uptrend, but the decline last night was mainly due to investors selling ahead of the US Federal Reserve meeting next week, said Zain Vawda, market analyst at MarketPulse.
The outcome of the meeting will determine the long-term trend of gold prices. Currently, the market expects almost certainly (98%) that the FED will cut interest rates in December.
Meanwhile, in China, the stock market has been rising strongly thanks to hopes for economic stimulus packages from the government. In particular, the 5% depreciation of the yuan against the USD since September has also been a factor boosting the market.
Technically, February gold futures traders still have the upper hand. If prices continue to rise, the next target will be to break through the resistance level of $2,826.30/ounce. Conversely, if prices fall, prices may fall to the support level of $2,650/ounce.
