Gold price today December 24, 2024: Domestic gold price increases again

Domestic gold price today December 24, 2024: Gold price increases again

At the time of survey at 4:30 a.m. on December 24, 2024, the price of gold bars on the trading floors of some companies increased again.

Specifically, the price of SJC gold bars was listed by large enterprises at 82.5-84.53 million VND/tael (buy - sell). Thus, compared to yesterday, the price of gold bars at the SJC brand increased by 700,000 VND/tael in both directions, at other brands it increased slightly by 100,000 VND/tael.

Similarly, the price of plain round gold rings is listed at 82.4-84 million VND/tael (buy - sell). The price of gold rings also increased from 100,000 to 800,000 VND compared to yesterday.

The price of SJC gold was listed by Saigon Jewelry Company (SJC) at 82.5 million VND/tael for buying and 84.53 million VND/tael for selling, an increase of 700,000 VND/tael for both buying and selling compared to the previous trading session. The difference between the buying price and selling price is 2.03 million VND.

DOJI listed the price of 9999 gold today at 83.5 million VND/tael for buying and 84.5 million VND/tael for selling, an increase of 600,000 VND/tael for buying and 100,000 VND/tael for selling compared to the previous closing price. The difference between the buying price and the selling price is 2.0 million VND.

Bao Tin Minh Chau gold price is traded by businesses at 82.5 million VND/tael for buying and 84.5 million VND/tael for selling, an increase of 100 thousand VND/tael in both buying and selling compared to the closing price yesterday.

Thus, the domestic gold price today, December 24, increased sharply in both buying and selling directions at SJC, and slightly increased at other stores compared to yesterday's closing price at some major gold brands.

The latest gold price list today, December 24, 2024 is as follows:

World gold price today December 24, 2024 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 4:30 a.m. today, Vietnam time, was 2,617.26 USD/ounce. Today's gold price decreased by 2.39 USD compared to yesterday. Converted according to the USD exchange rate on the free market (25,860 VND/USD), the world gold price is about 81.78 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 2.72 million VND/tael higher than the international gold price.

World gold prices rose slightly today as investors weighed the outlook for monetary policy after the US core inflation index - the preferred measure of the US Federal Reserve (Fed) - showed a lower increase than expected last week.

The personal consumption expenditures (PCE) index – the Fed’s preferred inflation gauge – rose just 0.1% in November, down from a 0.2% increase in October. In the 12 months through November, the PCE index rose 2.4%, down from a 2.3% increase in October, and still below the 2.5% forecast.

The data reinforces expectations that the Fed will continue to cut rates in 2025, although Fed officials like Mary Daly have stressed that the easing will be done cautiously.

The report from Bloomberg points out that the slowing consumer price growth is a positive signal for policymakers, especially when the target of interest rate cuts in 2025 is set. Lower interest rates usually benefit gold, which is a non-interest-bearing asset but acts as a safe haven in times of uncertainty.

Gold prices were supported by "covering" activity that started late last week, along with positive technical support, said Ajay Kedia, director of Kedia Commodities in Mumbai.

San Francisco Federal Reserve Bank President Mary Daly and two other policymakers said the Fed could consider cutting interest rates next year, but they said they would proceed cautiously because the policy “adjustment” phase is complete.

Rising interest rates have reduced the appeal of gold, which does not pay interest. However, Ajay Kedia said that gold currently has good support at $2,595 and resistance at $2,664.

Gold prices have increased by more than 25% this year and reached record highs, thanks to factors such as:

US monetary easing policy: Economic support measures from the Fed have helped gold prices rise.

Safe-haven demand: When investors are concerned about economic instability, gold becomes the top choice.

Strong buying from central banks: Many countries around the world have increased their gold reserves, contributing to the price increase.

However, gold’s rally stalled after the US presidential election as the US dollar strengthened, making gold more expensive for global buyers.

Quoc Duong