Gold price this afternoon December 5, 2024: Gold price is no longer likely to increase strongly
Gold price this afternoon December 5, 2024: Domestic and world gold prices are currently unlikely to increase sharply, but are also unlikely to decrease deeply. Buying gold rings is still very difficult.
Domestic gold price this afternoon December 5, 2024
At 2:30 p.m. on December 5, 2024, SJC Company listed the buying price of SJC gold bars at VND 83 million/tael and the selling price at VND 85.5 million/tael, unchanged from yesterday. The difference between the buying price and the selling price was recorded at VND 2.5 million/tael.
The price of SJC 9999 gold rings also remained unchanged compared to the previous trading session. Specifically, the buying price was listed at VND83 million/tael, while the selling price was VND84.3 million/tael.
At the DOJI system in Hanoi and Ho Chi Minh City, the price of SJC gold bars remains at VND83 million/tael for buying and VND85.5 million/tael for selling, similar to yesterday. The difference between buying and selling remains at VND2.5 million/tael. In addition, the price of DOJI Hung Thinh Vuong 9999 brand round gold rings is listed at VND83.3 million/tael (buying) and VND84.3 million/tael (selling), with no fluctuations.
Meanwhile, gold prices at PNJ have slightly adjusted. The buying price increased by 100 thousand VND/tael, reaching 83.2 million VND/tael and the selling price increased by 50 thousand VND/tael, reaching 84.35 million VND/tael.
At Bao Tin Minh Chau system, the price of SJC gold bars is listed at 83 million VND/tael (buy) and 85.5 million VND/tael (sell), with a difference of 2.5 million VND/tael between buying and selling prices. Meanwhile, plain round gold rings here are traded at 83.28 million VND/tael for buying and 84.38 million VND/tael for selling.
| Today (12/5/2024) | Yesterday (December 4, 2024) | |||
| Purchase price | Selling price | Purchase price | Selling price | |
| SJC | 83,000 | 85,500 | 83,000 | 85,500 |
| DOJI HN | 83,000 | 85,500 | 83,000 | 85,500 |
| DOJI SG | 83,000 | 85,500 | 83,000 | 85,500 |
| BTMC SJC | 83,000 | 85,500 | 83,000 | 85,500 |
| Phu Quy SJC | 83,000 | 85,500 | 83,000 | 85,500 |
| PNJ HCMC | 83,200  100 | 84,35050 | 83,100 | 84,300 |
| PNJ Hanoi | 30,25070 | 31,650 70 | 30,180 | 31,580 |
In Hanoi, many gold shops are currently attracting a large number of customers, especially those who want to buy 9999 plain round gold rings. However, due to high demand for gold, many shops have announced that they are out of stock or only selling gold for a limited time.
Ms. Dao Thu Hien, a customer in Cau Giay district, said that although she had visited many gold shops on Cau Giay street, she had only been able to buy 2 taels of gold rings after many days of waiting. Ms. Hien shared: "I needed to buy 5 taels as a wedding gift, but this morning I received a notice that the store was out of gold rings. I had to go home and try again another day."
A representative of a gold shop on Cau Giay Street said: "Currently, the shop has run out of plain round gold rings, so we have to temporarily suspend trading. It is not possible to determine exactly when the goods will be available again."
Although the current gold price is stable, the demand for buying plain round gold rings is very high, causing a prolonged shortage of goods. This causes a lot of inconvenience for buyers when they have to wait or cannot buy the desired product.
Experts advise people to monitor the supply situation at gold shops before deciding to make a transaction to avoid wasting time. At the same time, customers should also choose the right time to buy gold, when prices and supply are more stable.
World gold price this afternoon December 5, 2024
The world gold price is still above $2,654.03/ounce. In recent days, the gold price has increased slightly thanks to information from the US employment report. This report shows that the number of jobs in the private sector increases slowly, causing investors to turn to gold as a safe haven. According to Mr. Tai Wong, an independent metals trader, this negative report has helped the gold price go up.
Recently, gold trading on the international market has been quite quiet compared to November. Many experts believe that the current gold price is no longer likely to increase sharply, but it is also difficult to decrease deeply.
Peter Schiff, a strategist at Euro Pacific Asset Management, believes that gold will never fall below $2,000 an ounce. "$2,000 an ounce is a thing of the past. Now gold can go much higher, even double or triple what it is now," he said.
Gold prices are currently not much affected by interest rate policies from major central banks. Market expectations for interest rate hikes have slowed, helping gold maintain its high price. Experts also predict that gold prices will continue to stabilize thanks to safe-haven demand from large funds.
