Gold prices this afternoon, January 23, 2025: Gold prices surge, reaching their highest level in the past 3 months.
Gold prices this afternoon, January 23, 2025: World gold prices continue to surge, reaching their highest level in the past three months. Domestic gold prices have uniformly increased by 200,000 VND per tael, with gold rings nearing 88 million VND.
Domestic gold prices this afternoon, January 23, 2025
As of 12 PM on January 23, 2025, domestic gold prices continued to rise compared to yesterday's trading session, following the upward trend of world gold prices.
At Saigon Jewelry Company (SJC), the price of gold bars is listed at 86.4 million VND/ounce (buying price) and 88.4 million VND/ounce (selling price). This represents an increase of 200,000 VND/ounce in both buying and selling prices compared to the close of yesterday's trading session.
DOJI's system listed SJC gold at a buying price of 86.4 million VND/ounce and a selling price of 88.4 million VND/ounce. This price increased by 200,000 VND/ounce in both buying and selling directions compared to yesterday.
At Mi Hong Gold and Gemstone Company, the buying price of SJC gold is 86.8 million VND/ounce and the selling price is 87.8 million VND/ounce. Thus, compared to yesterday's session, both the buying and selling prices have increased by 300,000 VND/ounce.
Bao Tin Minh Chau Co., Ltd. listed the price of SJC gold at 86.4 million VND/ounce (buying price) and 88.4 million VND/ounce (selling price). This price increased by 200,000 VND/ounce in both buying and selling directions compared to yesterday.
The current buying price for SJC 9999 gold rings is 86.1 million VND/ounce and the selling price is 87.8 million VND/ounce. This represents an increase of 100,000 VND/ounce in both buying and selling prices compared to the close of yesterday's trading session.
For Hung Thinh Vuong 9999 gold rings (DOJI), the buying price increased sharply to 86.4 million VND/ounce and the selling price increased sharply to 87.9 million VND/ounce, an increase of 200,000 VND per ounce for both buying and selling compared to yesterday.
PNJ plain gold rings are being bought at 86.1 million VND/ounce and sold at 87.7 million VND/ounce.
| Today (January 23, 2025) | Yesterday (January 22, 2025) | |||
| Purchase price | Selling price | Purchase price | Selling price | |
| SJC | 86,400▲200 | 88,400▲200 | 86,200 | 88,200 |
| DOJI HN | 86,400▲200 | 88,400▲200 | 86,200 | 88,200 |
| DOJI SG | 86,400▲200 | 88,400▲200 | 86,200 | 88,200 |
| BTMC SJC | 86,400▲200 | 88,400▲200 | 86,200 | 88,200 |
| Phu Quy SJC | 86,200▲400 | 88,400▲400 | 85,800 | 88,000 |
| PNJ Ho Chi Minh City | 86,100 | 87,700 | 86,100 | 87,700 |
| PNJ Hanoi | 86,100 | 87,700 | 86,100 | 87,700 |
At 9 am this morning, hundreds of people lined up at several gold shops on Tran Nhan Tong street to wait to buy and sell. Today, customers were allowed to buy a maximum of 3 taels of gold instead of 1-3 chỉ (units of weight) as on some previous days.
While waiting in line to buy gold rings, Mrs. Hoa, a resident of Dong Da district (Hanoi), said that last week, when the price of gold was still at 84 million VND/ounce, she came here to queue but the store said they were out of gold. Today she came again to buy, and it turns out that each ounce of gold she had to pay was nearly 4 million VND more than last time.
World gold prices this afternoon, January 23, 2025
At the close of trading on January 22, the spot price of gold rose by $11 to $2,756. This is the highest price in the past three months, approaching the record high of $2,790 set on October 31, 2024.
The market rose due to a weaker USD and uncertainty surrounding the policies of US President Donald Trump. Investors are concerned that his policies could spark a trade war and disrupt financial markets.
The Dollar Index – which measures the strength of the dollar against six major currencies – fell to its lowest level in more than three weeks. A weaker USD makes gold less expensive for buyers using other currencies.
Expectations for a more positive relationship between the US and China following the decision to delay the ban on TikTok in the US for another 75 days have been dashed. Investors fear a trade and technology war between the US and many major economies around the world.
Earlier, Trump signed executive orders imposing a 25% tariff on all products exported to the US market from Canada and Mexico.
Many people fear that commodity prices will escalate as a result of Trump's policies. Inflation will reverse and rise sharply, creating an ideal environment for gold prices to increase.
Gold prices are expected to remain highly volatile in the coming days due to numerous surprises, ranging from new policies and policy reversals to ongoing battles in the US Senate and House of Representatives.
In addition, there are foreign policies and the Trump administration's solutions to hotspots around the world. Trump has sent messages urging Russian President Vladimir Putin to reach an agreement to end the conflict in Ukraine, but has also signaled that he does not rule out the possibility of sanctions against Russia if Moscow refuses to sit down at the negotiating table.
Trump also put pressure on Europe and neighboring countries by warning of increased tariffs.
These are factors that could cause gold prices to remain volatile, possibly throughout the 47th president's four-year term.
