On the Kitco floor, the world gold price was at 2,647 USD/ounce, the gold futures price for February 2025 on the Comex New York floor was at 2,675 USD/ounce, up 0.03% compared to yesterday. Overall, the gold price increased by 0.8% last week.
According to Daniel Pavilonis, senior market strategist at RJO Futures, gold has had a banner year and is currently undergoing a correction. However, Pavilonis believes the decline will be short-lived and predicts that the precious metal will move higher in the near term. Thanks to loose monetary policy, strong central bank buying and safe-haven demand, gold prices will break multiple records this year.
In addition, comments from Fed Chairman Jerome Powell after the meetings are also being closely watched by investors to assess the outlook for 2025, especially when inflation has yet to reach the 2% target set by the US Central Bank. According to MKS PAMP SA metals strategist Nicky Shiels, gold prices could reach $2,500/ounce or even $3,000/ounce, depending on whether the Fed can control inflation in time.
Gold price movements today
+ Domestic gold price
At 6:20 a.m. on December 15, Doji ring gold price was at 83.5 - 84.6 million VND/tael (buy - sell), down 300,000 VND/tael in both buying and selling compared to the previous day's closing price.
Saigon Jewelry Company (SJC) listed the price of gold rings of type 1-5 at only 83.3-84.7 million VND/tael (buy - sell), down 500,000 VND/tael in both buying and selling compared to the previous session.
Domestic gold bar and gold ring prices both decreased this morning. (Illustration photo).
The price of SJC and Doji gold bars is 83.8 million VND/tael (buy) and 86.8 million VND/tael (sell), down 100,000 VND/tael in both buying and selling compared to the previous trading session.
+ International gold price
The world gold price listed on Kitco is 2,647 USD/ounce, the gold futures price for February 2025 on the Comex New York floor is at 2,675 USD/ounce, up 0.03% compared to yesterday.
Gold price forecast
In the short term, many experts predict that gold prices may fluctuate between $2,647 and $2,760 per ounce. In the long term, Goldman Sachs Bank maintains that gold may reach $3,000 per ounce by the end of 2025.
According to analysts, renewed demand from the Indian wedding season, coupled with ongoing geopolitical developments, has once again pushed gold prices higher since late November. With the upcoming Fed meeting and continued market uncertainty, experts predict that gold could regain momentum in the coming weeks, reaffirming its status as a safe investment amid global economic uncertainty.
Julius Baer analyst Carsten Menke said the US economy will be stronger next year, which could limit the possibility of interest rate cuts, thereby reducing the upside momentum for gold.
Zain Vawda, market analyst at Oanda, said that the optimistic sentiment will help maintain the upward momentum in the short term, but the market may correct ahead of the Fed meetings as investors take profits.
According to Nitesh Shah, an expert at WisdomTree, gold prices could reach $3,000/ounce by the end of 2025. He emphasized that geopolitical risks will still be an important supporting factor for gold prices.
Source: https://vtcnews.vn/gia-vang-hom-nay-15-12-the-gioi-tang-trong-nuoc-giam-ar913404.html
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