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Gold price today January 5, 2025: World gold price drops sharply from 3-week peak

Quoc DuongDNUM_AFZABZCACF 04:30

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 gloom in the last trading session of the week 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:

DOJI listed the price of 9999 gold today 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 the enterprise at 84.1-85.5 million VND/tael (buying - selling, increasing 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.

Giá vàng hôm nay 5/1/2025: Giá vàng thế giới giảm sâu, vàng trong nước đi ngang

The latest gold price list today, January 5, 2025 is as follows:

Gold price today
January 5, 2025
(million dong)
Difference
(thousand dong/tael)
Buy
Sell
Buy
Sell
SJC in Hanoi
8485.5
--
DOJI Group
84
85.5
-
-
Red Eyelashes
84.885.5
-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: 05/01/2025 04:30 - Source website time - ▼/▲ Compared to yesterday.
Type
BuySell
AVPL/SJC HN84,00085,500
AVPL/SJC HCM84,00085,500
AVPL/SJC DN84,00085,500
Raw material 9999 - HN84,45084,800
Raw material 999 - HN84,35084,700
AVPL/SJC Can Tho84,00085,500
2.PNJ- Updated: 05/01/2025 04:30 - Source website time - ▼/▲ Compared to yesterday.
TypeBuySell
HCMC - PNJ84,40085,500
HCMC - SJC84,00085,500
Hanoi - PNJ84,40085,500
Hanoi - SJC84,00085,500
Da Nang - PNJ84,40085,500
Da Nang - SJC84,00085,500
Western Region - PNJ84,40085,500
Western Region - SJC84,00085,500
Jewelry gold price - PNJ84,40085,500
Jewelry gold price - SJC84,00085,500
Jewelry gold price - SoutheastPNJ84,400
Jewelry gold price - SJC84,00085,500
Jewelry gold price - Jewelry gold pricePNJ 999.9 Plain Ring84,400
Jewelry gold price - Jewelry gold 999.984,40085,200
Jewelry gold price - Jewelry gold 99984,32085,120
Jewelry gold price - Jewelry gold 9983,45084,450
Jewelry gold price - 916 gold (22K)77,14078,140
Jewelry gold price - 750 gold (18K)62,65064,050
Jewelry gold price - 680 gold (16.3K)56,69058,090
Jewelry gold price - 650 gold (15.6K)54,13055,530
Jewelry gold price - 610 gold (14.6K)50,72052,120
Jewelry gold price - 585 gold (14K)48,59049,990
Jewelry gold price - 416 gold (10K)34,19035,590
Jewelry gold price - 375 gold (9K)30,70032,100
Jewelry gold price - 333 gold (8K)26,8700 ▼28270K
3. SJC - Updated: 04/01/2025 04:30 - Time of the source website - ▼/▲ Compared to yesterday.
TypeBuySell
SJC 1L, 10L, 1KG84,00085,500
SJC 5c84,00085,520
SJC 2c, 1c, 5c84,00085,530
SJC 99.99 gold ring 1 chi, 2 chi, 5 chi84,00085,300
SJC 99.99 gold ring 0.3 chi, 0.5 chi84,00085,400
Jewelry 99.99%84,00085,100
Jewelry 99%81,75784,257
Jewelry 68%55,02358,023
Jewelry 41.7%32,64035,640

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 global 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 gold market 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 decline. However, gold still has some supportive factors, such as high public debt in the US 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 only twice this year.

Still, the first month of the year is typically a good time for gold. 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 jewelry demand picks up 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 keeping a close eye on the impact of the US dollar on gold prices next 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,” he explains. “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.” 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.

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Gold price today January 5, 2025: World gold price drops sharply from 3-week peak
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