Gold price this afternoon December 14, 2024: Gold ring and gold bar prices drop sharply
Gold price this afternoon, December 14, 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 14, 2024
At 1:30 p.m. on December 14, 2024, the price of SJC gold, listed by Saigon Jewelry Company (SJC), remained unchanged at VND83.8 million/tael (buy) and VND86.3 million/tael (sell) compared to yesterday. The difference between the buying and selling prices is currently VND2.5 million.
At DOJI, the price of 9999 gold today decreased slightly by 100,000 VND/tael compared to the previous session, currently listed at 83.8 million VND/tael (buy) and 86.3 million VND/tael (sell).
Gold price at PNJ also recorded a decrease of 100 thousand VND/tael compared to the previous session. Currently, the buying price is 83.8 million VND/tael, while the selling price is 86.3 million VND/tael.
For SJC 9999 gold rings, the buying price is 83.3 million VND/tael and the selling price is 84.7 million VND/tael, down 500 thousand VND/tael in both directions compared to yesterday.
The price of DOJI Hung Thinh Vuong 9999 gold rings also decreased slightly by 300 thousand VND/tael, currently trading at 83.5 million VND/tael (buy) and 84.6 million VND/tael (sell).
| Today (12/14/2024) | Yesterday (13/12/2024) | |||
| Purchase price | Selling price | Purchase price | Selling price | |
| SJC | 83,800 | 86,300 | 83,800 | 86,300 |
| DOJI HN | 83,800▼100 | 86,300▼100 | 83,900 | 86,400 |
| DOJI SG | 83,800▼100 | 86,300▼100 | 83,900 | 86,400 |
| BTMC SJC | 83,800 | 86,300 | 83,800 | 86,300 |
| Phu Quy SJC | 83,500▼400 | 86,100▼300 | 83,900 | 86,400 |
| PNJ HCMC | 83,500▼500 | 84,700▼500 | 84,000 | 85,200 |
| PNJ Hanoi | 83,500▼500 | 84,700▼500 | 84,000 | 85,200 |
Currently, gold prices are falling sharply. However, Mr. Tran Duy Phuong, a gold expert, believes that this is only a temporary decline. He predicts that from now until the end of 2024 and the beginning of 2025, gold prices may increase again.
However, Mr. Phan Dung Khanh, a financial expert, advised those who intend to invest in gold to make quick profits to be very careful. After a year of strong gold price increases, the possibility of prices continuing to increase is not high. Mr. Khanh suggested that buying gold should only be done with a long-term vision. You should use idle money to invest and only spend 20-30% of your assets to buy gold.
World gold price this afternoon December 14, 2024
In the last two trading sessions, the world gold price decreased by a total of 70 USD, down to below 2,650 USD/ounce. At the end of the session on December 13, the spot gold price decreased by 33 USD, down to 2,647 USD/ounce.
The main reason for the decline in gold prices was that many investors decided to take profits after prices reached a five-week high in the previous session. In addition, the US dollar holding steady around its two-week high also created great pressure, causing gold prices to fall.
Currently, the gold market is facing a correction after a series of strong increases, but this is considered short-term and does not change the long-term trend.
The world gold price is on a downward trend as many investors decide to sell to take profits after the price increased. The world's largest gold exchange-traded fund - SPDR Gold Trust - sold more than 8 tons of gold this week, bringing the amount of gold owned by the fund down to 863.9 tons.
At the same time, investors are also cautious ahead of the US Federal Reserve (Fed) meeting next week, as this is an event that could greatly affect gold prices in the short term.
According to experts at OANDA, although the short-term gold price uptrend remains, prices may decline slightly due to profit-taking pressure from investors ahead of the Fed's policy meeting.
A report from the World Gold Council (WGC) shows that in 2025, the gold market may face many challenges due to investor concerns. One of the main reasons is the uncertainty in the economic policies of President-elect Donald Trump.
The tariffs that Mr. Trump intends to impose to support domestic manufacturing could cause global trade tensions. If inflation rises further, the US Federal Reserve (Fed) may have to reconsider its plans to cut interest rates, slowing the growth momentum of gold prices.
Central banks have been buying gold consistently for the past 15 years, viewing it as a safe haven asset. In 2024, the Reserve Bank of India (RBI) bought 27 tonnes of gold in October alone, bringing its total reserves to 882 tonnes. Other central banks, such as Türkiye and Poland, have also bought tens of tonnes of gold, contributing to the high price of gold.
Gold prices are expected to range between $2,600 and $2,800 an ounce in 2025, depending on the Fed’s interest rate policy and the global economic situation. Investors should be cautious, especially as gold prices are unlikely to rise as sharply as last year, but are still a good choice for risk-on situations.
