Gold price today December 27, 2024: World gold price and domestic gold price increase again

Domestic gold price today December 27, 2024

At the time of survey at 4:30 a.m. on December 27, 2024, the gold price on the trading floors of some companies was as follows:

The price of 9999 gold today is listed by DOJI at 83.5 million VND/tael for buying and 84.5 million VND/tael for selling. An increase of 200 thousand VND/tael for both buying and selling compared to the close of yesterday's trading session.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 84.0-84.5 million VND/tael for buying and selling. Compared to yesterday, the price of SJC gold bars increased by 200 thousand VND/tael for both buying and selling.

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by businesses at 82.5-84.5 million VND/tael (buy in - sell out). Meanwhile, at Bao Tin Manh Hai, it is also being traded at 82.5-84.5 million VND/tael (buy in - sell out). Compared to yesterday, the gold price increased by 200 thousand VND/tael in the buying - selling direction.

The group of state-owned joint stock commercial banks (Vietcombank, Vietinbank, Agribank, BIDV) listed the price of SJC gold bars at 84.5 million VND/tael.

The latest gold price list today, December 27, 2024 is as follows:

World gold price today December 27, 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 2,626.09 USD/Ounce. Today's gold price increased by 9.66 USD/Ounce compared to last week. Converted to the USD exchange rate, on the free market (25,785 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 1.96 million VND/tael higher than the international gold price.

Gold rings continue to be purchased by companies at a much higher rate than gold bars. In this context, experts say the gold market will maintain a state of balance, with transactions mainly at a moderate level before the New Year.

Gold expert Tran Duy Phuong recommends that investors should consider selling gold from March to May 2025 to optimize profits, because this is the time when gold prices are at their weakest each year. It is not advisable to invest in gold from mid-2025.

Dr. Nguyen Tri Hieu believes that the price of gold in 2025 is still unknown, depending on President Donald Trump's economic policies and geopolitical issues in Ukraine and the Middle East.

Domestic and world gold prices in 2025 may fluctuate strongly, it is difficult to predict whether the world gold price will increase back to 2,800 USD/ounce or to 3,000 USD/ounce. It is also difficult to predict whether the domestic SJC gold bar and gold ring prices will return to 92 million VND/tael in 2025.

The world gold price is currently under great selling pressure due to the lack of strong supporting information. The possibility of the USD weakening rapidly in 2025 is no longer there, and escalating geopolitical instability is not something investors are betting on at the moment.

Donald Trump's transition team is looking for ways to end conflicts in Ukraine and the Middle East. The trade war between the US and many countries, including China, may not be too tense.

Mr. Trump sees tariffs as a negotiating tool. If the trade deficit improves, the trade war will not be so fierce.

Gold is expected to benefit in the first quarter of 2025 when President-elect Donald Trump takes office. Trump's erratic statements and policies could cause financial markets to fluctuate and gold prices could rise.

Zain Vawda, market analyst at Oanda's MarketPulse, told CNBC that the current sideways trend in gold is mainly due to low liquidity. A similar rally could happen in 2025, but depends on geopolitical developments.

UBS bank noted that gold prices have fallen 5.5% since peaking in late October, but are still up 28% year-to-date and outperforming the S&P 500 index. UBS expects gold prices to continue rising into 2025 due to strong demand from central banks, investor interest and a weakening US dollar in the medium term.

Gold price forecast

Gold is also under pressure as it tests the EMA50. There are negative signals and the price of gold may continue its downtrend in the short term, with the immediate target being to break through the psychological support of $2,600/ounce, and then move towards $2,550/ounce.

However, the $2,550/ounce threshold is considered a very strong support level. Previously, the gold price plummeted but rebounded to $2,540/ounce in mid-November. This was also the month that China returned to net gold buying after a 6-month hiatus.

Gold expert Tran Duy Phuong predicts that the gold price at the end of 2024 will be around 2,600-2,650 USD/ounce, an increase of about 30% compared to the beginning of the year.

Mr. Phuong believes that the gold price in 2025 will tend to decrease, although it can break out to 2,800-2,900 USD/ounce but it is not sustainable. The world gold price may increase in the first two quarters of 2025, but the increase is not strong, only about 200-250 USD/ounce compared to the end of 2024.

In the long term, gold is still expected to rise as inflation signals rise again globally. The West has seen inflation return, while many Asian countries are stepping up monetary easing and planning to pump money. China plans to issue more than $400 billion in special bonds to pump into the economy in 2025.