Gold price forecast on December 13: Suddenly turned up

Investors wait for important meetings of several central banks.

Closing the trading session on December 12, Saigon Jewelry Company listed the buying and selling price of SJC gold at 72.6 - 73.62 million VND/tael, down 150,000 VND/tael compared to yesterday's closing session. via.




Doji HN gold listed gold price at 72.4 - 73.5 million VND/tael, down 200,000 VND/tael for buying and down 400,000 VND/tael for selling compared to last weekend.





Phu Quy SJC is purchasing SJC gold bars at the price of 72.65 - 73.6 million VND/tael, a decrease of 50,000 VND/tael of buying and a decrease of 100,000 VND/tael of selling compared to the previous closing session.




On the world market, the gold price reached 1,988.45, an increase of 5.17 USD at 8:01 pm on December 12 Vietnam time.





Currently, investors wait for important meetings of several central banks. Specifically, the European Central Bank, Bank of England, Norges Bank and Swiss National Bank will also conduct policy meetings on Thursday. In addition, investors are also interested in data. US inflation data. This data is said to be able to influence the policy roadmap of the US Federal Reserve (FED).




World gold turned to increase




“Gold traders are waiting for some new fundamentals,” said Kitco Metals senior analyst Jim Wyckoff. Gold's short-term chart condition has worsened. If the CPI number is higher than expected, that could create some selling pressure in the gold market.”





Daniel Pavilonis, commodities broker at RJO Futures, said interest rates may pause adjustment. The precious metal will move sideways within the $2,000/ounce range this week.




Domestic gold prices often move in the same direction as world gold prices, so it is likely that gold prices will increase during the session on December 13.




Strategist Heng Koon How of UOB Bank said that the main positive driver for gold is the expectation that the USD will weaken and interest rates will decrease in 2024. He forecasts that the gold price could reach 2,200 USD. /ounce by the end of 2024.





Gold prices simultaneously decreased

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In the domestic market, opening this morning's trading session, according to developments in world gold prices, domestic brands simultaneously adjusted and reduced prices of gold products.




Specifically, Saigon Jewelry Company listed the buying and selling price of SJC gold at 72.7 - 73.92 million VND/tael, down 300,000 VND/tael compared to yesterday's closing session.




Doji HN gold listed gold price at 72.7 - 74.2 million VND/tael, down 200,000 VND/tael for buying and 100,000 VND/tael for selling compared to yesterday's closing session.




Phu Nhuan Jewelry Joint Stock Company (PNJ) listed SJC gold price in Hanoi market at 72.7 - 73.8 million VND/tael. Gold ring price is listed at 61.2 - 62.3 million VND/tael, down 400,000 VND/tael for buying and 500,000 VND/tael for selling compared to the last closing session.




Phu Quy SJC is purchasing gold bars at the price of 72.6 - 73.8 million VND/tael of buying - selling, down 350,000 VND/tael of buying and 400,000 VND/tael of selling compared to the previous closing session.