Gold prices today, December 15th, saw their sharpest increase in nearly three months.

World gold prices on December 14th continued to rise after fluctuating previously, increasing by nearly $7/ounce compared to the price on the afternoon of December 13th to $1,476.7/ounce. Gold had followed a zigzag pattern overnight on December 13th, fluctuating between $1,470 and $1,479/ounce.

Gold prices this past week saw few unexpected developments. At the beginning of the week, gold rebounded primarily due to bargain hunting after the sharp decline at the end of the previous week and increased geopolitical instability on the Korean Peninsula following North Korea's announcement of a "very important test" at its satellite launch site. The spot price of gold stood at $1,464 per ounce. The price of gold for February 2020 delivery on the Comex New York exchange stood at $1,469 per ounce.

Subsequently, global gold prices fluctuated continuously amidst unpredictable developments in global stock markets. Investors awaited clearer signals from the US Federal Reserve (Fed) and the outcome of US-China trade negotiations.

Gold prices last week.

In Asia, stock markets showed mixed performance. While South Korean stocks rose, Japanese stocks failed to maintain their gains. Investors awaited the results of the Federal Reserve and European Central Bank (ECB) policy meetings, while concerns lingered about the progress of trade negotiations between the US and China.

Global gold prices rose sharply after the US Department of Labor released weekly unemployment figures showing a significant increase to its highest level in over two 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 secured a majority, guaranteeing the necessary numbers for his party to enact their Brexit plan and leave the EU by the end of January.

Experts and investors believe that Trump prematurely eased restrictions on China in exchange for a Phase 1 agreement that was merely for selling agricultural products to farmers. If that's the case, Phase 2 of the agreement will be difficult to achieve. This is why investors are buying gold aggressively.

Goldman Sachs, an investment bank, said that demand for gold could increase in the near future due to concerns about recession and political instability. The bank forecasts that the price of gold will reach $1,600 per ounce in the next 3-12 months.

At the close of trading on Friday, December 14th, the price of domestic gold bars was listed by gold, silver, and gemstone corporations at: 41.30 million VND/ounce (buying price) and 41.45 million VND/ounce (selling price), unchanged from yesterday morning's selling price.

By early this morning, domestic gold prices had increased by 30,000 VND/ounce compared to the end of yesterday, currently listed at 41.36 - 41.81 million VND/ounce. For the entire week, the spot gold price is estimated to have increased by more than 1.2%, marking the strongest weekly increase in nearly 3 months.

Last week, gold prices fluctuated within a narrow range, resulting in decreased investment demand, primarily driven by consumer demand. The number of buyers only slightly increased compared to sellers, at 55% and 45% respectively.