Gold price this afternoon January 14, 2025: Gold price drops sharply to bottom in nearly 1 week

Domestic gold price this afternoon January 14, 2025

As of 2:00 p.m. on January 14, 2025, domestic gold prices turned slightly down compared to yesterday's trading session.

At Saigon Jewelry Company (SJC), the price of gold bars was listed at VND84.4 million/tael (buy) and VND86.4 million/tael (sell). A decrease of VND400,000/tael in both buying and selling directions compared to the closing price of yesterday's trading session.

DOJI system listed 9999 gold at buying price of 84.4 million VND/tael and selling price of 86.4 million VND/tael. This price decreased by 400 thousand VND/tael in both buying and selling directions compared to yesterday.

At Mi Hong Jewelry Company, the buying price of SJC gold is 84.5 million VND/tael and the selling price is 85.5 million VND/tael. Thus, compared to yesterday's session, the buying price decreased by 700 thousand VND/tael and the selling price decreased by 500 thousand VND/tael.

Bao Tin Minh Chau Co., Ltd. and Bao Tin Manh Hai Co., Ltd. both listed the price of SJC gold at VND84.4 million/tael (buy) and VND86.4 million/tael (sell). This price decreased by VND400,000/tael in both buying and selling directions compared to yesterday.

The current buying price of SJC 9999 gold rings is 84.4 million VND/tael and the selling price is 86.4 million VND/tael. A decrease of 300 thousand VND/tael for buying - a decrease of 100 thousand VND/tael for selling compared to the closing price of yesterday's trading session.

For Hung Thinh Vuong 9999 gold ring (DOJI), the buying price decreased to 85.1 million VND/tael and the selling price decreased to 86.4 million VND/tael, down 300 thousand VND per tael for buying and down 200 thousand VND per tael for selling compared to yesterday.

PNJ plain gold rings were bought at VND84.6 million/tael and sold at VND86.1 million/tael. The recorded decrease was VND400,000/tael for buying - VND300,000/tael for selling.

World gold price this afternoon January 14, 2025

At 8:33 a.m. today (January 14, Vietnam time), the world spot gold price was at 2,668 USD/ounce, up 0.9 USD/ounce compared to last night. The price of gold futures for February 2025 on the Comex New York floor was at 2,686 USD/ounce.

On the morning of January 14, the world gold price converted to USD bank price was over 83 million VND/tael, including tax and fees, about 3.4 million VND/tael lower than the domestic gold price.

World gold prices fell sharply due to high demand for profit-taking in the market after prices increased continuously in recent sessions. In addition, the USD also increased sharply. The DXY index reached 109.9 points, the highest in 2 years.

However, according to analysts, in the last sessions of the week, the gold price continuously approached the level of 2,700 USD/ounce, showing positive signals for the precious metal in the future, despite the great resistance of the recovering USD and rising US Treasury bond yields.

It can be seen that, in the context of many factors against gold, gold is supported by the hedge tool of inflation, financial market volatility, economic and geopolitical tensions.

The latest survey results from WisdomTree, an American asset management group, show that the main purpose of using gold in investors' portfolios is "diversification" to spread risks, helping to minimize potential risks in other investments.

Nitesh Shah, head of commodity and macroeconomic research at WisdomTree Europe, said gold is a great portfolio diversifier because it allows investors to improve returns while effectively controlling risk.

Shah analyzed that professional investors are right to see gold as a hedge against inflation, financial market volatility, economic stress and geopolitical instability.

While some of these risks may not be top of mind for investors right now, he said, hedging against potential escalation is still essential.