Gold price this afternoon January 7, 2025: World gold price and domestic gold price increased again
Gold price this afternoon, January 7, 2025: World gold price was adjusted up slightly, pulling up domestic gold price. Gold bars and rings both increased by 300,000 VND/tael, to 85.3 million VND/tael (sold).
Domestic gold price this afternoon January 7, 2025
As of 2:00 p.m. on January 7, 2025, domestic gold price increased slightly by VND 300,000/tael compared to the previous trading session.
At Saigon Jewelry Company (SJC), the price of gold bars was listed at VND83.8 million/tael (buy) and VND85.3 million/tael (sell). Compared to the previous session, the price increased by VND300,000 per tael in both directions. The difference between the buying and selling prices is currently at VND1.5 million/tael.
DOJI system listed 9999 gold at buying price of 83.8 million VND/tael and selling price of 85.3 million VND/tael. This price increased by 300 thousand VND/tael in both buying and selling directions compared to yesterday.
At Mi Hong Jewelry Company, the buying price of SJC gold is 84.3 million VND/tael and the selling price is 85 million VND/tael. Thus, compared to the previous session, the buying price decreased by 100 thousand VND/tael and the selling price remained the same.
Bao Tin Minh Chau Co., Ltd. and Bao Tin Manh Hai Co., Ltd. both listed the price of SJC gold at VND83.7 million/tael (buy) and VND85 million/tael (sell). These two units remained unchanged compared to the closing price of yesterday's trading session.
The current buying price of SJC 9999 gold rings is 83.8 million VND/tael and the selling price is 85.1 million VND/tael. Compared to the previous trading session, the price increased by 300 thousand VND/tael in both directions.
For Hung Thinh Vuong 9999 gold ring (DOJI), the buying price decreased to 84.4 million VND/tael and the selling price to 85.4 million VND/tael, an increase of 100 thousand VND per tael compared to yesterday.
PNJ plain gold rings were bought at 84.4 million VND/tael and sold at 85.3 million VND/tael. The recorded increase was stable for buying and 300 thousand VND/tael for selling.
| Today (January 7, 2025) | Yesterday (January 6, 2025) | |||
| Purchase price | Selling price | Purchase price | Selling price | |
| SJC | 83,800▲300 | 85,300▲300 | 83,500 | 85,000 |
| DOJI Hanoi | 83,800▲300 | 85,300▲300 | 83,500 | 85,000 |
| DOJI SG | 83,800▲300 | 85,300▲300 | 83,500 | 85,000 |
| BTMC SJC | 83,700 | 85,000 | 83,700 | 85,000 |
| Phu Quy SJC | 83,700 | 85,000 | 83,700 | 85,000 |
| PNJ HCMC | 84,400 | 85,300▲300 | 84,400 | 85,000 |
| PNJ Hanoi | 84,400 | 85,300▲300 | 84,400 | 85,000 |
Citing a survey by Lao Dong newspaper on the morning of January 7, in Hanoi, gold shops still attracted a large number of customers to buy 9999 plain round gold rings. However, many shops announced that they were out of stock or only open for sale during limited hours, causing many customers to leave empty-handed.
An employee at a gold shop on Tran Nhan Tong Street, Hanoi, confirmed: "Currently, the shop is out of plain round gold rings, so we cannot announce the exact opening time to customers."
The demand for buying plain round gold rings is very high, especially at the beginning of the year. Limited supply and scarcity of goods make it difficult for many customers to own this type of gold.
World gold price this afternoon January 7, 2025
This afternoon, the world gold price recovered quite strongly. As of 2:00 p.m. (Vietnam time), the spot gold price today on the world market was at 2,642 USD/ounce, up more than 5 USD compared to the previous session. Gold for February 2025 delivery on the Comex New York floor was at 2,654 USD/ounce.
The world gold price is currently about 28.1% higher (579 USD/ounce) than at the beginning of 2024. World gold converted to the bank USD price is 82.1 million VND/tael, including taxes and fees, about 3.5 million VND/tael lower than the domestic gold price.
Gold prices on the international market increased again mainly due to the USD adjusting down after a strong session before.
Fawad Razaqzada, a market analyst at City Index, predicts that despite short-term challenges such as the strength of the greenback and rising bond yields, gold prices will still reach the target of $3,000/ounce in the first half of 2025.
According to Nicky Shiels, Head of Precious Metals Research and Strategy at MKS PAMP, gold prices will trade in a fairly wide range of $2,500 to $3,200 an ounce in 2025. The extent of the price increase depends on the monetary policy of the US Federal Reserve (Fed).
David Miller, chief investment officer and senior portfolio manager at Catalyst Funds, said that gold prices could continue to be supported by the trend of BRICS countries converting their USD reserves to gold to avoid risks from sanctions.
