Gold price today December 15, the strongest increase in nearly 3 months

World gold prices continued to increase on December 14 after a series of fluctuations before, increasing by nearly 7 USD/ounce compared to the price on the afternoon of December 13 to 1,476.7 USD/ounce. Gold followed a zigzag path on the night of December 13 from 1,470 - 1,479 USD/ounce.

Gold prices last week did not have many unexpected developments. At the beginning of the week, gold increased again mainly due to bottom-fishing demand after this commodity fell sharply at the end of last week and geopolitical instability increased in the Korean peninsula after the country announced a "very important test" at its satellite launch station. The world spot gold price stood at 1,464 USD/ounce. The price of gold for February 2020 delivery on the Comex New York floor stood at 1,469 USD/ounce.

Next, the world gold price fluctuated continuously in the context of unpredictable developments in the world stock market. Investors waited for clearer signals from the US Federal Reserve (Fed) and the results of the US-China negotiations.

Gold price last week.

In Asia, stock markets were mixed. While South Korean stocks rose, Japanese stocks failed to maintain their green color. Investors awaited the results of policy meetings of the Fed and the European Central Bank (ECB), while worrying about the progress of trade negotiations between the US and China.

World gold prices increased sharply after the US Department of Labor announced that weekly unemployment figures increased sharply to the highest level in more than 2 years.

According to CNN, the Trump administration has reached a "phase one" agreement with Beijing to resolve the US-China trade war that has lasted more than 17 months.

Meanwhile, in the UK, the Conservative Party and Prime Minister Boris Johnson have won a majority, securing the numbers needed for his party to enact their Brexit plan and leave the EU by the end of January.

Experts and investors believe that Mr. Trump has loosened the regime on China too soon in exchange for the phase 1 agreement, which is only to sell agricultural products to farmers. If so, it will be difficult to reach phase 2 of the agreement. This is the reason why investors are buying gold strongly.

Investment bank Goldman Sachs said investment demand for gold could increase in the coming period due to concerns about recession and political instability. The bank forecasts gold prices to reach $1,600 an ounce in the next 3-12 months.

At the end of the weekend trading session, the domestic gold bar price on December 14 was listed by gold and gemstone corporations at: 41.30 million VND/tael (buy) and 41.45 million VND/tael (sell), unchanged from yesterday morning in the selling afternoon.

By early this morning, the domestic gold price had increased by VND30,000/tael compared to the end of yesterday, currently listed at VND41.36 - 41.81 million/tael. According to estimates for the whole week, the spot gold price increased by more than 1.2%, marking the strongest weekly increase in nearly 3 months.

Last week, gold prices fluctuated within a narrow range, so investment demand decreased, mainly arising from consumer demand. The number of buyers only slightly increased compared to sellers, at 55% and 45% respectively.