On December 19th, the price of SJC gold reached 156.4 million VND per tael.
Domestic SJC gold bars continued to rise sharply, contrary to the global market trend. The price difference widened to approximately 18 million VND/ounce amidst cooling US inflation.
Domestic gold bar prices continue to rise.
On the morning of December 19th, the domestic gold market saw a continued upward trend in gold bar prices. Major brands such as SJC, DOJI, PNJ, and Bao Tin Minh Chau all adjusted their prices upwards compared to yesterday. The highest buying price recorded was 154.4 million VND/ounce, while the common selling price was 156.4 million VND/ounce.
The Phu Quy brand, in particular, listed a lower buying price of 153.4 million VND/ounce, but its selling price remained the same as other businesses on the market.
Gold prices for rings are showing mixed trends.
In contrast to gold bars, the market for gold rings appeared relatively quiet, with most brands maintaining their listed prices. The highest selling price fluctuated around 155.2 million VND per tael.
Below is a detailed price list for gold rings from some major brands:
| Trademark | Buying price (million VND/ounce) | Selling price (million VND/ounce) | Change |
|---|---|---|---|
| SJC | 150.3 | 153.3 | Unchanged |
| DOJI | 151.0 | 154.0 | Unchanged |
| PNJ | 151.0 | 154.0 | Unchanged |
| Bao Tin Minh Chau | 152.2 | 155.2 | Unchanged |
| Phu Quy | 151.4 | 154.4 | An increase of 400,000 VND |
Global markets experienced a slight decline.
On the international market, the spot gold price saw a slight downward adjustment, currently trading around $4,333.7 per ounce. Converted using the exchange rate at Vietcombank (excluding taxes and fees), this price is equivalent to approximately VND 138.4 million per tael.
Compared to 24 hours ago, world gold prices have decreased by 0.13%, but still record an increase of over 6% in the past month. Currently, world gold prices are approximately 18 million VND/ounce lower than domestic gold bar prices.
Analysis from experts
The gold market's performance is heavily influenced by US economic data showing easing inflationary pressures, reinforcing expectations that the Federal Reserve (Fed) will soon cut interest rates.
GrandfatherChris Zaccarelli,Investment Director of Northlight Asset Management, commented: "Inflation data is much better than expected... The main concern of Fed officials was that inflation is persistent and will not come down if they continue to lower interest rates. At this point, that no longer seems to be the case."
He shared the same view.Jamied,Managing Partner of Harris Financial GroupHe argued that there was no longer any reason to maintain a tight monetary policy. "The path for the Fed to continue cutting interest rates in January is now clear," he said.
This expectation was further reinforced when the Philadelphia Fed's manufacturing survey showed a sharper-than-expected decline and the US unemployment rate rose to 4.6% in November, the highest level since 2021. These factors prompted investors to seek gold as a safe-haven asset.
