Gold price today January 5, 2025: World gold price drops sharply from 3-week peak
Gold price today January 5: World gold price dropped sharply from a 3-week peak to below the 2,640 USD mark. Domestic gold price recorded a gloomy performance in the weekend trading session with a flat trend or a decrease of 100,000 VND/tael.
Domestic gold price today January 5, 2025
At the time of survey at 4:30 a.m. on January 5, 2025, the gold price on the trading floors of some companies was as follows:
The price of 9999 gold today is listed by DOJI at 84.55 million VND/tael for buying and 85.5 million VND/tael for selling. Both buying and selling prices remained unchanged compared to yesterday.
At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 84.8-85.5 million VND/tael for buying and selling. Compared to yesterday, the buying price decreased by 100 thousand VND/tael, the selling price remained the same compared to yesterday.
SJC gold price at Bao Tin Minh Chau Company Limited was also traded by businesses at 84.1-85.5 million VND/tael (buying - selling), increased 100 thousand VND/tael for buying - unchanged for selling compared to yesterday.
At Bao Tin Manh Hai, the price is also being traded at 84.1-85.5 million VND/tael (buy - sell), an increase of 100 thousand VND/tael for buying - unchanged for selling compared to yesterday.
The latest gold price list today, January 5, 2025 is as follows:
| Gold price today | January 5, 2025 (Million VND) | Difference (thousand dong/tael) | ||
| Buy | Sell out | Buy | Sell out | |
| SJC in Hanoi | 84 | 85.5 | - | - |
| DOJI Group | 84 | 85.5 | - | - |
| Mi Hong | 84.8 | 85.5 | -100 | - |
| PNJ | 84 | 85.5 | - | - |
| Vietinbank Gold | 85.5 | - | ||
| Bao Tin Minh Chau | 84.1 | 85.5 | +100 | -500 |
| Bao Tin Manh Hai | 84.1 | 85.5 | +100 | -300 |
| 1.DOJI- Updated: 5/1/2025 04:30 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| AVPL/SJC HN | 84,000 | 85,500 |
| AVPL/SJC HCM | 84,000 | 85,500 |
| AVPL/SJC DN | 84,000 | 85,500 |
| Raw material 9999 - HN | 84,450 | 84,800 |
| Raw materials 999 - HN | 84,350 | 84,700 |
| AVPL/SJC Can Tho | 84,000 | 85,500 |
| 2.PNJ- Updated: 5/1/2025 04:30 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| HCMC - PNJ | 84,400 | 85,500 |
| HCMC - SJC | 84,000 | 85,500 |
| Hanoi - PNJ | 84,400 | 85,500 |
| Hanoi - SJC | 84,000 | 85,500 |
| Da Nang - PNJ | 84,400 | 85,500 |
| Da Nang - SJC | 84,000 | 85,500 |
| Western Region - PNJ | 84,400 | 85,500 |
| Western Region - SJC | 84,000 | 85,500 |
| Jewelry gold price - PNJ | 84,400 | 85,500 |
| Jewelry gold price - SJC | 84,000 | 85,500 |
| Jewelry gold price - Southeast | PNJ | 84,400 |
| Jewelry gold price - SJC | 84,000 | 85,500 |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 84,400 |
| Jewelry gold price - Jewelry gold 999.9 | 84,400 | 85,200 |
| Jewelry gold price - 999 jewelry gold | 84,320 | 85,120 |
| Jewelry gold price - 99 jewelry gold | 83,450 | 84,450 |
| Jewelry gold price - 916 gold (22K) | 77,140 | 78,140 |
| Jewelry gold price - 750 gold (18K) | 62,650 | 64,050 |
| Jewelry gold price - 680 gold (16.3K) | 56,690 | 58,090 |
| Jewelry gold price - 650 gold (15.6K) | 54,130 | 55,530 |
| Jewelry gold price - 610 gold (14.6K) | 50,720 | 52,120 |
| Jewelry gold price - 585 gold (14K) | 48,590 | 49,990 |
| Jewelry gold price - 416 gold (10K) | 34,190 | 35,590 |
| Jewelry gold price - 375 gold (9K) | 30,700 | 32,100 |
| Jewelry gold price - 333 gold (8K) | 26,870 | 0 ▼28270K |
| 3. SJC - Updated: 01/04/2025 04:30 - Website time of supply - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| SJC 1L, 10L, 1KG | 84,000 | 85,500 |
| SJC 5c | 84,000 | 85,520 |
| SJC 2c, 1C, 5 phan | 84,000 | 85,530 |
| SJC 99.99 gold ring 1 chi, 2 chi, 5 chi | 84,000 | 85,300 |
| SJC 99.99 gold ring 0.3 chi, 0.5 chi | 84,000 | 85,400 |
| 99.99% Jewelry | 84,000 | 85,100 |
| 99% Jewelry | 81,757 | 84,257 |
| Jewelry 68% | 55,023 | 58,023 |
| Jewelry 41.7% | 32,640 | 35,640 |
World gold price today January 5, 2025 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 2,639.91 USD/Ounce. Today's gold price decreased by 9.33 USD/Ounce compared to yesterday. Converted according to the USD exchange rate, on the free market (25,800 VND/USD), the world gold price is about 83.02 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 2.48 million VND/tael higher than the international gold price.
The world gold price is falling mainly due to two main reasons: the strengthening of the US dollar (USD) and concerns about economic and trade changes under President-elect Donald Trump. According to Nitesh Shah, a commodity expert at WisdomTree, Mr. Trump's proposal to impose import tariffs could cause the USD to appreciate sharply, thereby putting pressure on the market for gold and other precious metals.
The Dollar Index, which measures the greenback’s strength against a basket of other currencies, just had its biggest weekly gain since mid-November. As the dollar strengthens, gold becomes more expensive for buyers outside the United States, reducing its appeal.
Shah also said that if Mr. Trump’s trade policies slow global trade flows and economic activity, demand for precious metals like gold could fall. However, gold still has some supporting factors, such as high public debt in the U.S. and many other countries, along with geopolitical issues that are unlikely to be resolved quickly.
On January 20, Mr. Trump will officially take office as President of the United States. His protectionist policies are expected to boost inflation, causing the US Federal Reserve (Fed) to limit monetary easing. This could slow the rise in gold prices. In 2024, the Fed cut interest rates three times, but is expected to cut them only twice this year.
However, the first month of the year is typically a good time for gold prices. Ross Norman, an independent precious metals analyst, said that over the past 20 years, January has typically seen strong gains in gold prices as investors open new positions and demand for jewelry increases during the holiday season.
While gold prices fell, other precious metals such as silver, platinum and palladium increased in price during the trading session on January 3. Specifically, silver increased 0.2% to 29.6 USD/ounce, platinum increased 1.9% to 940 USD/ounce, and palladium increased 1.7% to 926 USD/ounce.
Gold price forecast
David Morrison, senior market analyst at Trade Nation, said gold is starting to show signs of strength. However, he is closely watching the impact of the US dollar on gold prices in the coming week. "It will be interesting to see if gold can rally from here, even with the US dollar at a two-year high," Morrison said.
While the US dollar is weighing on gold, Alex Kuptsikevich, a market analyst at FxPro, notes that there are times when gold and the US dollar can rise in tandem. "On December 31 and January 2, pressure on risk assets, including a 1.5% rise in the US dollar, did not prevent gold from rising. Although the range was narrow, the fact that both the US dollar and gold rose while stocks fell is typical of periods of market flight to safety," he explains. However, Kuptsikevich also warns that the current gold price action is showing some bearish technical signs.
“Gold touched the 50-day moving average in the first trading session of the new year. The drop below this level in November broke the uptrend and put gold into a consolidation phase after a 12-month gain of more than 50%. The failure to hold above this line in November, December and early January 2025 appears to be a sign that many are looking to sell to take profits,” he added.
The coming week is seen as a key moment that could shape the direction of both the US dollar and gold in the first quarter of the new year, as markets await key jobs data. While strong economic data could support the US dollar, analysts still advise that any dip in gold should be viewed as a buying opportunity.
David Miller, Chief Investment Officer and Senior Portfolio Manager at Catalyst Funds, is bullish on gold in the new year. “Gold is currently trading above $2,600 an ounce, and there is reason to believe that the strength in 2024 will continue into 2025,” he said.
