Gold price today December 9, 2024: World and domestic gold prices both decrease
Gold price today December 9: World and domestic gold prices both ended the week with a decrease of over half a million VND/tael. This could be an accumulation period before a potential price increase.
Domestic gold price today December 9, 2024
At the time of survey at 4:30 a.m. on December 9, 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 million VND/tael for buying and 84 million VND/tael for selling. Compared to the beginning of last week, the price of gold rings at DOJI decreased by 500 thousand VND/tael in both buying and selling directions.
At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 84-85 million VND/tael for buying and selling. Compared to the beginning of last week, the price of SJC gold at Mi Hong decreased by 300 thousand VND/tael for both buying and selling.
The price of SJC gold at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 82.7-85.2 million VND/tael (buying - selling). At Bao Tin Manh Hai, it is also being traded at 82.7-85.2 million VND/tael (buying - selling). Compared to the beginning of last week, the price of SJC gold here has decreased by 500 thousand VND/tael in both buying and selling directions.
The latest gold price list today, December 9, 2024 is as follows:
| Gold price today | December 9, 2024(Million VND) | Difference from the beginning of last week(thousand dong/tael) | ||
| Buy | Sell out | Buy | Sell out | |
| SJC in Hanoi | 82.7 | 85.2 | -600 | -600 |
| DOJI Group | 82.7 | 85.2 | -600 | -600 |
| Mi Hong | 84 | 85 | -300 | -300 |
| PNJ | 82.7 | 85.2 | -600 | -600 |
| Vietinbank Gold | 85.2 | -600 | ||
| Bao Tin Minh Chau | 82.7 | 85.2 | -500 | -500 |
| Bao Tin Manh Hai | 82.7 | 85.2 | -500 | -500 |
| 1.DOJI- Updated: 12/9/2024 04:30 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| AVPL/SJC HN | 82,700 | 85,200 |
| AVPL/SJC HCM | 82,700 | 85,200 |
| AVPL/SJC DN | 82,700 | 85,200 |
| Raw material 9999 - HN | 82,900 | 83,200 |
| Raw materials 999 - HN | 82,800 | 83,100 |
| AVPL/SJC Can Tho | 82,700 | 85,200 |
| 2.PNJ- Updated: 12/9/2024 04:30 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| HCMC - PNJ | 83,000 | 84,000 |
| HCMC - SJC | 82,700 | 85,200 |
| Hanoi - PNJ | 83,000 | 84,000 |
| Hanoi - SJC | 82,700 | 85,200 |
| Da Nang - PNJ | 83,000 | 84,000 |
| Da Nang - SJC | 82,700 | 85,200 |
| Western Region - PNJ | 83,000 | 84,000 |
| Western Region - SJC | 82,700 | 85,200 |
| Jewelry gold price - PNJ | 83,000 | 84,000 |
| Jewelry gold price - SJC | 82,700 | 85,200 |
| Jewelry gold price - Southeast | PNJ | 83,000 |
| Jewelry gold price - SJC | 82,700 | 85,200 |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 83,000 |
| Jewelry gold price - Jewelry gold 999.9 | 82,900 | 83,700 |
| Jewelry gold price - 999 jewelry gold | 82,820 | 83,620 |
| Jewelry gold price - 99 jewelry gold | 81,960 | 82,960 |
| Jewelry gold price - 916 gold (22K) | 76,270 | 76,770 |
| Jewelry gold price - 750 gold (18K) | 61,530 | 62,930 |
| Jewelry gold price - 680 gold (16.3K) | 55,670 | 57,070 |
| Jewelry gold price - 650 gold (15.6K) | 53,160 | 54,560 |
| Jewelry gold price - 610 gold (14.6K) | 49,810 | 51,210 |
| Jewelry gold price - 585 gold (14K) | 47,720 | 49,120 |
| Jewelry gold price - 416 gold (10K) | 33,570 | 34,970 |
| Jewelry gold price - 375 gold (9K) | 30,140 | 31,540 |
| Jewelry gold price - 333 gold (8K) | 26,370 | 27,770 |
| 3. SJC - Updated: 12/9/2024 04:30 - Website time of supply - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| SJC 1L, 10L, 1KG | 82,700 | 85,200 |
| SJC 5c | 82,700 | 85,220 |
| SJC 2c, 1C, 5 phan | 82,700 | 85,230 |
| SJC 99.99 gold ring 1 chi, 2 chi, 5 chi | 82,600 | 84,000 |
| SJC 99.99 gold ring 0.3 chi, 0.5 chi | 82,600 | 84,100 |
| 99.99% Jewelry | 82,500 | 83,600 |
| 99% Jewelry | 79,772 | 82,772 |
| Jewelry 68% | 54,003 | 57,003 |
| Jewelry 41.7% | 32,014 | 35,014 |
World gold price today December 9, 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 2,632.81 USD/Ounce. Today's gold price decreased by 15.71 USD/Ounce compared to the beginning of last week. Converted according to the USD exchange rate, on the free market (25,710 VND/USD), the world gold price is about 82.51 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 2.69 million VND/tael higher than the international gold price.
Last week, SJC gold bar prices increased in 1 session, decreased in 2 sessions and remained unchanged in 3 sessions. At the end of the week, gold prices closed at the lowest level in the past 10 days, down a total of 600,000 VND/tael compared to the beginning of the week.
Currently, the price of SJC gold bars is at 85.2 million VND/tael, about 2.69 million VND higher than the world gold price. The gap between buying and selling prices remains at 2.5 million VND/tael, meaning that gold bar buyers lose about 3.1 million VND after holding for a week.
The price of gold rings also decreased last week, recording a loss of 1.5 to 2.1 million VND per tael depending on the brand. Currently, the price of gold rings is at 84.1 million VND/tael, the lowest since November 19, 2024, and about 1.56 million VND higher than the world gold price.
Both gold bars and gold rings have adjusted their prices closely following the developments of the world gold market. Last week, the gap between domestic and international gold prices remained below VND3 million.
The difference between buying and selling prices of gold rings has narrowed, from 1-1.9 million VND last weekend to 1-1.4 million VND. This is considered a positive signal for investors.
Although gold prices are trending down, this could be an opportunity for investors to buy at a better price. The stability of gold prices in a narrow range despite the downward pressure creates conditions for those who are looking for a reasonable entry point in the market.
Although the gold market is currently quiet, this could be a period of accumulation before a potential price increase. Investors should closely monitor developments and be prepared for future opportunities.
Gold prices are in a “pause” phase after a sharp drop of about $90 an ounce on November 25, according to expert Gary Wagner of Kitco News. This reflects accumulation and hesitation in the market, as investors look for new directions in the context of a volatile global economy.
One of the key factors was a decline in physical gold demand from China, the world’s largest gold consumer. This led to a decline in inflows into gold exchange-traded funds (ETFs) in November, ending a six-month streak of growth.
In addition, the US Federal Reserve's interest rate policy also plays a big role. US labor market data shows steady strength, making it unnecessary for the Fed to cut interest rates quickly.
Next week, important data such as the November Consumer Price Index (CPI) and Producer Price Index (PPI) will be released. If housing prices stabilize and inflation declines, the Fed is likely to continue cutting interest rates, creating favorable conditions for gold prices to rise. However, experts emphasize that the market needs a stronger catalyst than just stable inflation.
Gold price forecast
Christopher Vecchio, an expert at Tastylive, said he is neutral on the gold market. He said that gold needs to break through the resistance level of $2,725 an ounce to create new growth momentum.
Kitco forecasts that gold prices could fluctuate between $2,600 and $2,800 an ounce by the end of 2024. Factors such as the Fed's monetary policy and geopolitical tensions will affect gold prices in the coming time.
LiteFinance forecasts that gold prices will fluctuate between $2,421 and $2,651 per ounce in 2025. Factors such as interest rates, global market supply and demand, geopolitical tensions and currency devaluation will affect gold prices.
ABC predicts that gold prices could rise to $2,700 an ounce by early 2025 due to factors such as interest rate cuts and geopolitical tensions. Longer-term forecasts suggest gold prices could reach between $8,000 and $10,000 an ounce by 2030.
Gold prices could rise to $2,700 an ounce by mid-2025 due to factors such as Fed rate cuts and central bank gold purchases, according to Reuters.
