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Gold price today December 14, 2024: World gold price pulls domestic gold down sharply

Quoc Duong DNUM_BEZBCZCACE 04:30

Gold price today December 14: World gold price dropped sharply below the 2,670 USD/ounce mark due to waiting for the Fed meeting, causing domestic gold price to drop nearly 1 million VND/tael - the sharpest drop since November 27, 2024.

Domestic gold price today December 14, 2024

At the time of survey at 4:30 a.m. on December 14, 2024, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold today at 83.8 million VND/tael for buying and 84.9 million VND/tael for selling. A decrease of 1 million VND/tael for both 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 84.4-85.4 million VND/tael for buying and selling. Compared to yesterday, the price of Mi Hong SJC gold decreased by 200 thousand VND/tael for buying and selling, and the price decreased by 400 thousand VND/tael for selling.

The price of SJC gold at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 83.9-86.4 million VND/tael (buy in - sell out). At Bao Tin Manh Hai, it is also being traded at 83.9-86.4 million VND/tael (buy in - sell out). Compared to yesterday, the price of gold bars decreased by 900 thousand VND/tael for both buying and selling.

Giá vàng hôm nay 14/12/2024: Giá vàng thế giới kéo vàng trong nước giảm mạnh

The latest gold price list today, December 14, 2024 is as follows:

Gold price today
December 14, 2024
(million dong)
Difference
(thousand dong/tael)
Buy
Sell
Buy
Sell
SJC in Hanoi
83.8
86.3
-800-800
DOJI Group
83.9
86.4
-900
-900
Red Eyelashes
84.485.4
-200-400
PNJ
83.9
86.4
-700
-700
Vietinbank Gold
86.3

-800
Bao Tin Minh Chau
83.9
86.4
-900-900
Bao Tin Manh Hai
83.9
86.4
-900-900
1.DOJI- Updated: 12/14/2024 04:30 - Source website time - ▼/▲ Compared to yesterday.
Type
BuySell
AVPL/SJC HN83,900▼900K86,400▼900K
AVPL/SJC HCM83,900▼900K86,400▼900K
AVPL/SJC DN83,900▼900K86,400▼900K
Raw material 9999 - HN83,700▼1000K84,000▼1000K
Raw material 999 - HN83,600▼1000K83,900▼1000K
AVPL/SJC Can Tho83,900▼900K86,400▼900K
2.PNJ- Updated: 12/14/2024 04:30 - Source website time - ▼/▲ Compared to yesterday.
TypeBuySell
HCMC - PNJ84,000▼800K85,200▼700K
HCMC - SJC83,900▼700K86,400▼700K
Hanoi - PNJ84,000▼800K85,200▼700K
Hanoi - SJC83,900▼700K86,400▼700K
Da Nang - PNJ84,000▼800K85,200▼700K
Da Nang - SJC83,900▼700K86,400▼700K
Western Region - PNJ84,000▼800K85,200▼700K
Western Region - SJC83,900▼700K86,400▼700K
Jewelry gold price - PNJ84,000▼800K85,200▼700K
Jewelry gold price - SJC83,900▼700K86,400▼700K
Jewelry gold price - SoutheastPNJ84,000▼800K
Jewelry gold price - SJC83,900▼700K86,400▼700K
Jewelry gold price - Jewelry gold pricePNJ 999.9 Plain Ring84,000▼800K
Jewelry gold price - Jewelry gold 999.983,900▼800K84,700▼800K
Jewelry gold price - Jewelry gold 99983,820▼800K84,620▼800K
Jewelry gold price - Jewelry gold 9982,950▼800K83,950▼800K
Jewelry gold price - 916 gold (22K)77,190▼730K77,690▼730K
Jewelry gold price - 750 gold (18K)62,280▼600K63,680▼600K
Jewelry gold price - 680 gold (16.3K)56,350▼540K57,750▼540K
Jewelry gold price - 650 gold (15.6K)53,810▼520K55,210▼520K
Jewelry gold price - 610 gold (14.6K)50,420▼490K51,820▼490K
Jewelry gold price - 585 gold (14K)48,300▼470K49,700▼470K
Jewelry gold price - 416 gold (10K)33,990▼330K35,390▼330K
Jewelry gold price - 375 gold (9K)30,510▼300K31,910▼300K
Jewelry gold price - 333 gold (8K)26,700▼270K28,100▼270K
3. SJC - Updated: 12/14/2024 04:30 - Source website time - ▼/▲ Compared to yesterday.
TypeBuySell
SJC 1L, 10L, 1KG83,800▼800K86,300▼800K
SJC 5c83,800▼800K86,320▼800K
SJC 2c, 1c, 5c83,800▼800K86,330▼800K
SJC 99.99 gold ring 1 chi, 2 chi, 5 chi83,800▼700K85,200▼700K
SJC 99.99 gold ring 0.3 chi, 0.5 chi83,800▼700K85,300▼700K
Jewelry 99.99%83,700▼700K84,800▼800K
Jewelry 99%80,960▼693K83,960▼693K
Jewelry 68%54,819▼476K57,819▼476K
Jewelry 41.7%32,515▼292K35,515▼292K

World gold price today December 14, 2024 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 2,661.93 USD/Ounce. Today's gold price decreased by 35.9 USD/Ounce compared to yesterday. Converted according to the USD exchange rate, on the free market (25,650 VND/USD), the world gold price is about 83.22 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 3.08 million VND/tael higher than the international gold price.

The world gold price has dropped sharply, moving away from the $2,700/ounce mark. This has affected the domestic market, causing the price of SJC gold bars to drop by nearly VND1 million/tael. Gold rings are no exception to this trend, with a drop of nearly VND1 million/tael – the sharpest drop since November 27, 2024.

Currently, the gap between the buying and selling price of gold is around VND2.5 million/tael. According to experts, this gap is still very high.

Since the beginning of the year, the price of plain gold rings has increased sharply, reaching a peak of about VND89 million/tael. Although the current price has decreased by VND4-5 million/tael compared to the peak, compared to the beginning of the year, the price of gold rings is still about 35% higher. Meanwhile, gold bars have also increased in price, with an increase of more than 16% since the beginning of the year.

Gold prices fell slightly ahead of the US Federal Reserve meeting, as many investors wanted to sell to secure profits. At this meeting, the Fed is expected to cut interest rates for the third time this year.

Investors are focused on the Fed's December 17-18 meeting, with a 97% chance of a 25 basis point rate cut. Fed Chairman Jerome Powell's remarks will be closely watched for clues on policy plans through 2025, when U.S. inflation is still above the 2% target.

Investors are not just focused on whether the Fed will cut interest rates at its upcoming meeting. Instead, they are more interested in what the Fed will signal about future meetings, especially the meeting in January next year, and the long-term trend of interest rate policy. These decisions will greatly affect whether gold prices can continue to rise steadily.

The US Department of Labor reported that the producer price index (PPI) rose 0.4% in November, beating expectations of a 0.2% increase. The consumer price index (CPI), another key gauge of inflation, came in as expected. The data showed that US inflation remains stubborn and has not yet dropped significantly.

Gold Price Forecast

The CEO of Allegiance Gold said the Fed is having a tough time because inflation is still above its target. If the Fed cuts rates more slowly or less than expected in 2025, gold prices could come under pressure.

Gold funds are currently holding large speculative positions, and some funds may sell gold to reduce risk ahead of the Fed meeting, which could also cause gold prices to fall in the short term, said a commodity strategist at TD Securities.

Ole Hansen, commodity strategist at Saxo Bank, said that the end of the year often makes investors cautious, leading to short-term buying and selling when prices change, whether up or down. He predicted that gold prices could remain stable until the end of the year, before continuing their upward trend in 2025, potentially reaching $3,000 an ounce.

Gold prices at $3,000 an ounce or higher depend on whether the Fed can control inflation, said Nicky Shiels, precious metals strategist at MKS PAMP SA. If the Fed is slow to respond to inflation, real (inflation-adjusted) interest rates could fall and the dollar could weaken, helping gold prices continue to rise in the second half of 2025.

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Gold price today December 14, 2024: World gold price pulls domestic gold down sharply
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