Gold price today December 25: World gold price and domestic gold price decreased simultaneously

Domestic gold price today December 25, 2024

At the time of survey at 4:30 a.m. on December 25, 2024, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold today at 83.3 million VND/tael for buying and 84.3 million VND/tael for selling. The price of 9999 gold rings decreased by 200 thousand VND/tael in both buying and selling directions compared to yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 83.5-84.3 million VND/tael for buying and selling. Compared to yesterday, the price of SJC gold bars decreased by 200 thousand VND/tael for both buying and selling.

SJC gold price at Bao Tin Minh Chau Company Limited is also traded at 82.3-84.3 million VND/tael (buy-sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 82.3-84.3 million VND/tael (buy-sell). Compared to yesterday, the gold price decreased by 200 thousand VND/tael in both buying and selling directions.

The latest gold price list today, December 25, 2024 is as follows:

World gold price today December 25, 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 2,614.29 USD/Ounce. Today's gold price decreased by 4.49 USD/Ounce compared to yesterday. Converted according to the USD exchange rate, on the free market (25,900 VND/USD), the world gold price is about 82.54 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 2.14 million VND/tael higher than the international gold price.

Many people in Hanoi have difficulty owning gold rings. The scarcity of gold at stores has forced many people to line up early, but still cannot buy.

Gold shops are limiting the quantity they sell. Buying gold rings has become more difficult as shops do not announce specific opening hours, and some even do not sell during the day.

Ms. Ngo Thi Hai, a resident of Cau Giay District, shared her arduous experience buying gold. She came to the store early in the hope of buying plain round gold rings or SJC gold bars, but had to return because the staff did not announce the sale time. “The goods sold out very quickly. Today, I waited all morning but still had no information about the sale time,” Ms. Hai said.

Staff at a gold shop on Cau Giay Street confirmed the situation. According to them, both SJC gold rings and gold bars are currently out of stock. The shop cannot trade normally and it is unclear when the supply will be replenished.

An important factor causing the world gold price to tend to decrease is the increase in the value of the US dollar. The Dollar Index – measuring the strength of the greenback compared to other major currencies – increased by 0.4%, approaching the highest level in the past two years.

At the same time, the yield on 10-year US government bonds also recorded an increase, creating additional pressure on gold prices.

The market is now correcting after last week's Fed policy meeting, with investors starting to bet the Fed could slow its pace of monetary easing next year, possibly even pausing rate cuts in January or March, said Peter Grant, vice president of Zaner Metals.

Overall, though, gold has had a stellar 2024. It has risen 27% since the start of the year – its biggest gain since 2010. The gains have been driven by strong central bank buying, global geopolitical tensions, and interest rate cuts from major countries.

Looking ahead, investors are now concerned about President-elect Donald Trump's trade tariff policies and a less aggressive rate-cutting path from the US Federal Reserve (Fed) through 2025.

In India, gold demand remains subdued due to high prices. Traders are offering discounts of up to $8 an ounce compared to local prices to stimulate demand. Consumer trends are shifting towards lighter jewelry and lower gold content.

Similarly, in China, gold demand has also not improved, with gold traders here applying a discount of $5 per ounce to attract consumers, showing great pressure on the domestic gold market.

Gold price forecast

Currently, domestic and international financial experts have made many forecasts about gold prices in the coming time. According to Long Forecast, gold prices could reach 2,421 USD/ounce by the end of 2024, with the expected peak of 2,542 USD in December.

Meanwhile, Coin Price Forecast predicts gold prices will reach $2,419/ounce by mid-year and rise to $2,651/ounce by the end of 2024.

John Reade, Head of Market Research at the World Gold Council, predicts gold prices could rise to $2,750 an ounce by early 2025. He believes demand for gold from central banks and investors will continue to increase.

Chris Skinner, financial expert and author of the blog The Finanser, said that gold prices could continue to rise in the short term due to factors such as inflation and the global economic situation. He predicted that gold prices could fluctuate between $2,700 and $2,750 an ounce.

Eric Sepanek of Scottsdale Bullion & Coin said gold prices have risen more than 30% in 2024 and could continue to rise. He forecasts gold prices could reach $3,000 an ounce by 2025.

Dmitri Demidenko from LiteFinance believes that gold prices could fall to $2,565-2,525 an ounce due to pressure from a strong US dollar and rising Treasury yields.