Gold price today December 5, 2024: World gold price and domestic gold price increase/decrease modestly
Gold price today December 5: World gold price decreased slightly when the influencing factors were not clear, leading to a modest increase in gold rings, the price did not exceed 84.4 million VND/tael while the price of gold bars remained the same.
Domestic gold price today December 5, 2024
At the time of survey at 4:30 a.m. on December 5, 2024, the gold price on the trading floors of some companies was as follows:
DOJI listed the price of 9999 gold today at 83.3 million VND/tael for buying and 84.3 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 83.8-84.8 million VND/tael for buying and selling. Compared to yesterday, the buying price decreased by 700 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 83-85.5 million VND/tael (buy in - sell out). Meanwhile, at Bao Tin Manh Hai, it is also being traded at 83-85.5 million VND/tael (buy in - sell out), both increased by 200 thousand VND/tael compared to yesterday.
The latest gold price list today, December 5, 2024 is as follows:
| Gold price today | December 5, 2024 (million dong) | Difference (thousand dong/tael) | ||
| Buy | Sell | Buy | Sell | |
| SJC in Hanoi | 83 | 85.5 | - | - |
| DOJI Group | 83 | 85.5 | - | - |
| Red Eyelashes | 84.5 | 85.5 | -700 | -700 |
| PNJ | 83 | 85.5 | - | - |
| Vietinbank Gold | 85.5 | - | ||
| Bao Tin Minh Chau | 82.8 | 85.3 | +200 | +200 |
| Bao Tin Manh Hai | 82.8 | 85.3 | +200 | +200 |
| 1.DOJI- Updated: 12/5/2024 04:30 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| AVPL/SJC HN | 83,000 | 85,500 |
| AVPL/SJC HCM | 83,000 | 85,500 |
| AVPL/SJC DN | 83,000 | 85,500 |
| Raw material 9999 - HN | 83,200 | 83,500 |
| Raw material 999 - HN | 83,100 | 83,400 |
| AVPL/SJC Can Tho | 83,000 | 85,500 |
| 2.PNJ- Updated: 12/5/2024 04:30 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 83,100 | 84,300 |
| HCMC - SJC | 83,000 | 85,500 |
| Hanoi - PNJ | 83,100 | 84,300 |
| Hanoi - SJC | 83,000 | 85,500 |
| Da Nang - PNJ | 83,100 | 84,300 |
| Da Nang - SJC | 83,000 | 85,500 |
| Western Region - PNJ | 83,100 | 84,300 |
| Western Region - SJC | 83,000 | 85,500 |
| Jewelry gold price - PNJ | 83,100 | 84,300 |
| Jewelry gold price - SJC | 83,000 | 85,500 |
| Jewelry gold price - Southeast | PNJ | 83,100 |
| Jewelry gold price - SJC | 83,000 | 85,500 |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 83,100 |
| Jewelry gold price - Jewelry gold 999.9 | 83,000 | 83,800 |
| Jewelry gold price - Jewelry gold 999 | 82,920 | 83,720 |
| Jewelry gold price - Jewelry gold 99 | 82,060 | 83,060 |
| Jewelry gold price - 916 gold (22K) | 76,360 | 76,860 |
| Jewelry gold price - 750 gold (18K) | 61,600 | 63,000 |
| Jewelry gold price - 680 gold (16.3K) | 55,730 | 57,130 |
| Jewelry gold price - 650 gold (15.6K) | 53,220 | 54,620 |
| Jewelry gold price - 610 gold (14.6K) | 49,870 | 51,270 |
| Jewelry gold price - 585 gold (14K) | 47,770 | 49,170 |
| Jewelry gold price - 416 gold (10K) | 33,610 | 35,010 |
| Jewelry gold price - 375 gold (9K) | 30,180 | 31,580 |
| Jewelry gold price - 333 gold (8K) | 26,400 | 27,800 |
| 3. SJC - Updated: 12/5/2024 04:30 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| SJC 1L, 10L, 1KG | 83,000 | 85,500 |
| SJC 5c | 83,000 | 85,520 |
| SJC 2c, 1c, 5c | 83,000 | 85,530 |
| SJC 99.99 gold ring 1 chi, 2 chi, 5 chi | 83,000▲300K | 84,300▲100K |
| SJC 99.99 gold ring 0.3 chi, 0.5 chi | 83,000▲300K | 84,400▲100K |
| Jewelry 99.99% | 82,900▲300K | 83,900▲100K |
| Jewelry 99% | 80,069▲99K | 83,069▲99K |
| Jewelry 68% | 54,207▲68K | 57,207▲68K |
| Jewelry 41.7% | 32,139▲41K | 35,139▲41K |
World gold price today December 5, 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 2,652.45 USD/Ounce. Today's gold price decreased by 0.38 USD/Ounce compared to yesterday. Converted according to the USD exchange rate, on the free market (25,730 VND/USD), the world gold price is about 83.19 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 2.31 million VND/tael higher than the international gold price.
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In the domestic market, gold rings recorded a slight decrease in the difference between buying and selling prices. The difference currently ranges from 1 to 1.4 million VND/tael, down from 1 to 1.5 million VND/tael yesterday. However, the price of gold rings still depends on the movement of world gold prices.
Global gold prices fell modestly, supported by two important external factors. First, the US dollar index fell slightly, increasing the attractiveness of gold to international investors. Second, crude oil prices rose higher, boosting positive sentiment in the commodity market.
In addition, international instability, especially the declaration of martial law in South Korea, has also caused many investors to turn to gold as a hedge against risks. Although the impact of these events is not large, they still contribute to keeping gold prices stable.
Long-term factors are expected to continue to support gold prices, according to Capital Economics. Strong demand from China, coupled with persistent concerns about the global fiscal situation, are expected to offset the downside from traditional factors such as a strong dollar and rising bond yields.
Gold prices are currently being influenced by the Fed’s monetary policy expectations, according to Kelvin Wong, an analyst at OANDA. Investors expect the Fed to cut interest rates only twice in 2025, fewer than previously forecast in September. This caution has kept the gold market from seeing significant growth in the short term.
According to Jigar Trivedi, an expert at Reliance Securities, the slight increase in gold prices is due to safe-haven demand. The main reason is the rising geopolitical tensions in South Asia and the euro zone. In times of economic or political instability, gold is often considered a safe asset, helping to protect the value of investments.
Investors are now focused on two major events. The first is a speech by Jerome Powell, expected to be his last appearance before the Fed's policy meeting on December 17-18.
Second are the important jobs reports from the US, including ADP data today and Non-Farm Payrolls on Friday. If the US labor market remains stable, the Fed may be more cautious about cutting interest rates.
According to CME Group's FedWatch tool, the market is pricing in a 73.8% chance that the Fed will cut rates by another 25 basis points this month, with a total of 80 basis points of cuts expected by the end of 2025. These predictions are slowing gold's near-term bullish momentum.
Gold Price Forecast
Technical analyst Wang Tao predicts that spot gold may test the support level at $2,621 an ounce. If prices fall below this level, gold may fall to the $2,594-2,608 an ounce range. This is a level that investors should pay attention to.
Capital Economics says that even if the US dollar strengthens and bond yields rise, gold prices will not necessarily fall. History shows that there have been many times when gold and the dollar have risen together.
In addition, central bank buying and non-traditional factors such as uncertain fiscal policies will continue to support gold prices. By the end of 2025, gold prices are expected to fluctuate between $2,650 and $2,750 per ounce.