Gold price today January 12, 2025: World gold price recovers, domestic gold price increases dramatically to nearly 87 million VND

Domestic gold price today January 12, 2025

At the time of survey at 4:30 a.m. on January 12, 2025, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold today at 85.4 million VND/tael for buying and 86.6 million VND/tael for selling. An increase of 300 thousand VND/tael for buying and selling compared to yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 85.3-86.3 million VND/tael for buying and selling. Compared to yesterday, the buying price decreased by 100 thousand VND/tael, the selling price increased by 100 thousand VND/tael compared to yesterday.

SJC gold price at Bao Tin Minh Chau Company Limited was also traded by the enterprise at 84.9-86.8 million VND/tael (buying - selling, increased 100 thousand VND/tael for buying - increased 600 thousand VND/tael for selling compared to yesterday.

At Bao Tin Manh Hai, it is also being traded at 84.9-86.8 million VND/tael (buy - sell), an increase of 100 thousand VND/tael for buying - an increase of 600 thousand VND/tael for selling compared to yesterday.

The latest gold price list today, January 12, 2025 is as follows:

World gold price today January 12, 2025 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was 2,688.96 USD/Ounce. Today's gold price decreased by 1.8 USD/Ounce compared to yesterday. Converted according to the USD exchange rate, on the free market (25,755 VND/USD), the world gold price is about 83.92 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 2.88 million VND/tael higher than the international gold price.

Gold prices rose on Thursday as uncertainty over the incoming Trump administration’s policies boosted the metal’s appeal as a safe-haven investment, even as better-than-expected US jobs data reinforced expectations that the Federal Reserve may not cut interest rates aggressively this year.

As of 6:57 p.m. local time, gold prices briefly fell to $2,685.61 an ounce after data showed the U.S. added 256,000 jobs last month, compared with economists' forecasts of 160,000. The unemployment rate stood at 4.1%, compared with a forecast of 4.2%.

However, gold prices quickly recovered and hit their highest level since December 12, with a weekly gain of more than 1.8%.

"The gold price action shows a lack of committed sellers; a reticence learned from last year's significant gains. The immediate reaction rally has quickly faded and short-term traders and short programs have quickly reversed course," said Tai Wong, an independent metals trader.

The dollar rose sharply while U.S. stock futures fell sharply after the jobs data. Markets showed traders now expect the Fed to cut interest rates by only 30 basis points this year, compared with a cut of around 45 basis points before the data.

"Gold remains resilient to the stronger-than-expected jobs report... One of the factors supporting gold is the uncertainty surrounding the US presidential inauguration," said David Meger, director of metals trading at High Ridge Futures.

As President-elect Donald Trump's inauguration on January 20 approaches, investors are concerned about his promise to impose tariffs on a wide range of imports, fearing that this could fuel inflation and limit the Fed's ability to cut interest rates.

While gold is seen as a hedge against inflation, high interest rates reduce its appeal as a non-yielding asset.

Spot silver rose 0.9% to $30.38 an ounce, while platinum fell 0.2% to $959.10 and palladium rose 2.2% to $943.93. All three metals were headed for weekly gains.

Gold Price Forecast

Gold prices rose significantly in December even as the dollar strengthened and traders took profits, according to the World Gold Council (WGC). Debt concerns, central bank buying and geopolitical risks will support gold prices this month.

Gold is unlikely to see much negative impact from bond yields until these concerns subside, the WGC said.

Assessing the outlook for gold prices in 2025, Paul Williams, CEO of Solomon Global, said the conditions that drove gold to a record high 39 times last year are still in place. Gold prices are well supported in the new year.

If the economic situation worsens in 2025, leading to a global recession or depression, investors will likely continue to flock to gold.

“In 2024, gold as a safe haven asset. In a world struggling with geopolitical conflicts and economic uncertainty, gold has provided stability and security for investors,” Williams said.