Gold price today December 4, 2024: World gold price and domestic gold price both increased slightly

Domestic gold price today December 4, 2024

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

DOJI listed the price of 9999 gold today at 83.1 million VND/tael for buying and 84.1 million VND/tael for selling. An increase of 200 thousand 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 84.5-85.5 million VND/tael for buying and selling. Compared to yesterday, the buying price increased by 500 thousand VND/tael for both buying and selling.

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 82.8-85.3 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is also being traded at 82.8-85.3 million VND/tael (buy - sell), stable compared to yesterday.

The latest gold price list today, December 4, 2024 is as follows:

World gold price today December 4, 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 2,652.83 USD/Ounce. Today's gold price increased by 4.9 USD/Ounce compared to yesterday. Converted according to the USD exchange rate, on the free market (25,720 VND/USD), the world gold price is about 83.17 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 2.33 million VND/tael higher than the international gold price.

Currently, both the domestic and international gold markets are witnessing many fluctuations. Economic experts warn that the period from now until Lunar New Year 2025 may pose many risks for gold investors. The decision to invest in gold or not depends on each person's personal strategy and risk tolerance.

In recent years, gold prices have increased sharply, creating great opportunities for investors. However, this continuous increase in prices has also brought about great pressure to take profits. This is not only happening in Vietnam but also in the international market, where investors are facing a difficult question: will this increase continue or will gold prices turn down?

One of the major factors that affects the price of gold is the geopolitical situation in the world. However, predicting geopolitical developments is very difficult, because it depends on the decisions of national leaders. Any changes in international policy or instability in major regions can also cause strong fluctuations in the price of gold.

Today (December 4), world gold prices increased slightly, supported by expectations that the US Federal Reserve (Fed) may cut interest rates, along with concerns related to the geopolitical situation.

Earlier on Monday, gold prices fell by 1%, but are now gradually recovering thanks to positive market factors.

Markets are awaiting key US economic data this week, especially Friday's payrolls report, which is seen as a deciding factor in whether the Fed will cut interest rates at its mid-December meeting.

The latest economic data from the US, specifically the personal consumption expenditure (PCE) index in October, increased to 2.3% / year. This has further complicated the Fed's decision-making process on monetary policy.

Tensions in the Middle East are also supporting gold prices. The Israeli military has attacked several Hezbollah positions in Lebanon, raising concerns about regional instability.

In addition, US Treasury yields also rose, reducing the appeal of gold in the eyes of investors. The yield on the 2-year bond rose to 4.2%, while the yield on the 10-year bond reached 4.19%.

Some market experts warn that the sell-off in French stocks and rising pressure on government bonds could worsen the country's budget crisis.

This is not only affecting France but also risks spreading to other major economies, highlighting the burden of public debt. In such a context, demand for safe-haven metals, such as gold, may increase, helping to push gold prices higher in the coming period.

China’s economic situation is expected to have a major impact on the gold market in the coming years. With issues such as slowing growth, low stock returns, and instability in the real estate sector, gold is becoming a safer and more attractive investment channel for investors in this country.

If demand from China continues to increase, this will be a strong support factor for gold prices in the long term.

Gold Price Forecast

Although gold prices are currently under downward pressure, experts predict that gold prices could reach $2,750/ounce by the end of 2025. The main driver of the price increase comes from the recovery of gold demand in China and the increase in gold purchases by central banks around the world.

According to analysts from ANZ Research, the market is increasingly convinced that the US Federal Reserve (Fed) will not cut interest rates as expected in December. However, demand for safe assets, including gold, is still supporting the price of this precious metal, helping the price of gold not to fall too much despite the pressure from the strong USD and high bond yields.