Gold price this afternoon December 17, 2024: Gold ring price increased sharply, gold bar price remained unchanged
Gold price this afternoon December 17, 2024: Gold ring price increased sharply, gold bars remained unchanged before the Fed's policy meeting
Domestic gold price this afternoon December 17, 2024
At the time of survey at 2:30 p.m. on December 17, 2024, at Saigon Jewelry Company (SJC), the price of gold bars was listed at VND 82.6 million/tael for buying and VND 85.1 million/tael for selling, unchanged from the previous trading session. The difference between the buying price and the selling price remained at VND 2.5 million/tael.
At Mi Hong Company, the buying and selling prices of gold bars were VND84.1 million/tael and VND85.1 million/tael respectively. These prices remained the same as yesterday.
Similarly, at Bao Tin Minh Chau and Bao Tin Manh Hai, gold bar prices are being traded at 82.6 million VND/tael for buying and 85.1 million VND/tael for selling. These prices have not fluctuated.
Today's gold ring price recorded a slight recovery, increasing by about 100,000 to 300,000 VND/tael depending on the business.
At DOJI, the price of 9999 Hung Thinh Vuong round gold rings is listed at 83.7 million VND/tael for buying and 84.7 million VND/tael for selling. Compared to yesterday morning's trading session, the buying price increased by 200,000 VND and the selling price increased by 100,000 VND.
Meanwhile, at Bao Tin Minh Chau, the price of gold rings remained at 83.63 million VND/tael for buying but increased by 300 thousand VND/tael for selling, to 85.08 million VND/tael.
| Today (December 17, 2024) | Yesterday (December 16, 2024) | |||
| Purchase price | Selling price | Purchase price | Selling price | |
| SJC | 82,600 | 85,100 | 82,600 | 85,100 |
| DOJI Hanoi | 82,600 | 85,100 | 82,600 | 85,100 |
| DOJI SG | 82,600 | 85,100 | 82,600 | 85,100 |
| BTMC SJC | 82,600 | 85,100 | 82,600 | 85,100 |
| Phu Quy SJC | 82,600 | 85,100 | 82,600 | 85,100 |
| PNJ HCMC | 83,400 | 84,400 | 83,400 | 84,400 |
| PNJ Hanoi | 83,400 | 84,400 | 83,400 | 84,400 |
World gold price this afternoon December 17, 2024
In the international market, gold prices recorded a slight increase. Specifically, the spot gold price in the US closed up 4.1 USD, reaching 2,652.8 USD/ounce. In this morning's trading session in Asia, gold prices continued to increase by 4.9 USD, reaching 2,657.7 USD/ounce.
Meanwhile, the price of gold futures for February 2025 delivery on the New York floor decreased slightly by 5.8 USD, down to 2,670 USD/ounce.
Gold prices rose mainly due to the weakening US dollar. The US Dollar Index, which measures the strength of the US dollar against major currencies, fell slightly to 106.470 points (down 0.08%).
The gold market is currently quite "cautious" as investors await an important decision from the US Federal Reserve (FED). The FED's year-end policy meeting may send a message of interest rate cuts, but with a tough stance on monetary policy.
OANDA expert Kelvin Wong said that gold prices are having trouble approaching the $2,700/ounce level. According to him, there are two main pressures:
Rising US bond yields make gold investment costs higher, reducing the attractiveness of the precious metal.
Inflation increased due to new policies such as corporate tax cuts and import tax increases.
Wong said these factors will put pressure on gold prices in the short term. However, the long-term trend of gold is still upward.
Despite the difficulties, gold still has long-term support factors. Wong pointed out that the US policy of increasing import tariffs could slow global economic growth. This will boost demand for gold as a safe asset to hedge against risks.
In addition, according to WisdomTree strategist Nitesh Shah, gold prices are also supported by geopolitical risks and demand for gold from China. As the world's largest gold consumer, China is increasing its gold purchases and may continue to implement economic stimulus measures, thereby creating more momentum for gold prices to grow.
