Gold price this afternoon December 10, 2024: Gold ring and gold bar prices increased by nearly 1 million VND/tael

Domestic gold price this afternoon December 10, 2024

At the time of survey at 2:30 p.m. on December 10, 2024, the price of SJC gold bars listed by Saigon Jewelry Company (SJC) was at VND 83.60 million/tael for buying, an increase of VND 900,000 compared to yesterday. For selling, the price also increased by VND 400,000, reaching VND 85.60 million/tael.

Other large enterprises such as Phu Quy, Bao Tin Minh Chau and PNJ also simultaneously adjusted the price of SJC gold bars. Specifically, the buying price increased by VND900,000/tael and the selling price increased by VND400,000/tael, currently trading around VND83.6-85.6 million/tael.

DOJI Company alone announced the buying price at 83.1 million VND/tael and the selling price at 85.6 million VND/tael, increasing by 400 thousand VND/tael in both directions.

The price of gold rings also increased slightly, with the increase ranging from 250,000 VND to 450,000 VND/tael depending on the business.

At Phu Quy Company, gold rings are currently trading at 83.7 million VND/tael for buying and 84.9 million VND/tael for selling, an increase of 400 thousand VND/tael compared to yesterday.

Bao Tin Minh Chau Company listed the price of gold rings at 83.83 million VND/tael for buying and 84.93 million VND/tael for selling, recording an increase of 450 thousand VND each way.

Meanwhile, PNJ adjusted the price of round gold rings to 83.7 million VND/tael for buying and 84.7 million VND/tael for selling. Compared to yesterday, the corresponding increase was 350 thousand VND for buying and 250 thousand VND for selling.

	Today (10/12/2024)		Yesterday (December 9, 2024)
	Purchase price	Selling price	Purchase price	Selling price
SJC	83,600 900	85,600 400	82,700	85,200
DOJI HN	83,100 400	85,600 400	82,700	85,200
DOJI SG	83,100 400	85,600 400	82,700	85,200
BTMC SJC	83,600 900	85,600 400	82,700	85,200
Phu Quy SJC	83,600 900	85,600 400	82,700	85,200
PNJ HCMC	83,800 450	84,900 450	83,350	84,450
PNJ Hanoi	30,440 150	31,840 150	30,290	31,690

The price of gold rings at large trading units has exceeded 84.9 million VND/tael, the highest level since November 28, 2024. This shows that the attractiveness of gold rings is increasing in the market.

Specifically, the buying price of gold rings reached VND83.9 million/tael, VND300,000/tael higher than the buying price of SJC gold bars. However, the selling price of gold rings was lower, at VND84.93 million/tael, nearly VND700,000/tael lower than SJC gold bars.

The gap between the buying and selling price of gold rings is currently between VND1 million and VND1.3 million per tael, down from VND1 million and VND1.5 million per tael yesterday. Although the gap has decreased slightly, it is still a large gap, showing the high risk of investing in gold rings, especially for short-term investors.

World gold price this afternoon December 10, 2024

Currently, the price of gold in the international market is showing a strong upward trend. Specifically, the spot price of gold reached 2,660 USD/ounce, up 33 USD compared to the previous lowest level of 2,627 USD/ounce. This is the highest price in the past 2 weeks. At the same time, the price of gold futures for February also increased by 19.4 USD, to 2,679 USD/ounce, thanks to the demand for safe havens in the face of global instability.

One of the important reasons for the increase in gold prices is the move from China. After 6 months of not buying gold, the People's Bank of China (PBOC) bought 5 tons of gold in November 2024. This is a positive signal, showing that China is increasing its gold reserves, contributing to the increase in the price of this precious metal.

China has announced that it will implement “more proactive” economic stimulus measures to support its weakening economy, which will not only boost its stock market but also boost demand for gold, as China is one of the world’s largest consumers of gold.

The political situation in the Middle East also had a strong impact on gold prices. The collapse of Bashar Al-Assad's regime in Syria raised concerns about instability in the region. At the same time, US and Israeli airstrikes in Syria further drove investors to seek gold as a safe haven.

Political instability in South Korea has weakened the country’s stock market and currency. In this context, investors tend to turn to gold to preserve the value of their assets, contributing to the increase in gold prices.

Other economic factors are also supporting gold prices. The US dollar weakened slightly, the yield on the 10-year US Treasury note fell to 4.15%, while crude oil prices rose to $68.25 a barrel. These factors create favorable conditions for gold prices to maintain their upward momentum.

According to experts, the price of gold futures for February delivery has an advantage in the short term and may surpass the resistance level of 2,748 USD/ounce. Meanwhile, the strongest support level is currently determined to be 2,600 USD/ounce.

Quoc Duong