December 12: Ring and Bullion Gold Prices Surge as Global Gold Reaches Near 2-Month High

As of the closing session on December 12, domestic gold prices rose across the board compared to the previous day’s close.

For gold bars, SJC, PNJ, DOJI, and Bao Tin Minh Chau companies traded at VND 153.6 – 155.6 million per tael, up VND 1.1 million per tael from the previous day. Bao Tin Manh Hai saw the same increase and continued to offer higher purchase prices, trading at VND 153.7 – 155.6 million per tael.

For gold rings, SJC’s buying and selling prices were listed at VND 150.5 – 153 million per tael, up VND 900,000 per tael. PNJ and DOJI listed their buying and selling prices at VND 150.6 – 153.6 million per tael, up VND 1.1 million per tael in both directions. Bao Tin Minh Chau’s gold rings traded at VND 151.8 – 154.8 million per tael, up VND 800,000 per tael.

Kim Gia Bao gold rings at Bao Tin Manh Hai also traded at VND 151.8 – 154.8 million per tael, up VND 800,000 per tael from the previous day’s close.

Global gold prices were recorded at 18:30 today at $4,330, up 1.25% from the previous day’s close. Earlier, global gold prices had surged 1.2% in the December 11 trading session, reaching the highest level since October 21.

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In the latest update this morning, domestic gold prices rose across the board compared to the previous day’s close.

For gold bars, SJC, PNJ, DOJI, and Bao Tin Minh Chau companies traded at VND 153.6 – 155.6 million per tael, up VND 1.1 million per tael from the previous day. Bao Tin Manh Hai saw the same increase and continued to offer higher purchase prices, trading at VND 153.7 – 155.6 million per tael.

For gold rings, SJC’s buying and selling prices were listed at VND 150.5 – 153 million per tael, up VND 900,000 per tael. PNJ and DOJI listed their buying and selling prices at VND 150.6 – 153.6 million per tael, up VND 1.1 million per tael in both directions. Bao Tin Minh Chau’s gold rings traded at VND 152 – 155 million per tael, up VND 1 million per tael.

Kim Gia Bao gold rings at Bao Tin Manh Hai also traded at VND 152 – 155 million per tael, up VND 1 million per tael from the previous day’s close.

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In the domestic market, as of early this morning (December 12), gold prices remained unchanged from the previous day’s close.

Gold bars at SJC, PNJ, DOJI, and Bao Tin Minh Chau traded at VND 152.5 – 154.5 million per tael. Bao Tin Manh Hai continued to offer higher purchase prices, trading at VND 152.6 – 154.5 million per tael.

For gold rings, SJC’s buying and selling prices were listed at VND 149.6 – 152.1 million per tael. PNJ and DOJI maintained their buying and selling prices at VND 149.5 – 152.5 million per tael. Bao Tin Minh Chau’s gold rings traded at VND 151 – 154 million per tael.

Kim Gia Bao gold rings at Bao Tin Manh Hai traded at VND 151 – 154 million per tael.

In the international market, spot gold prices were recorded early this morning at $4,272 per ounce, down 0.16% from the previous day’s close. Earlier, global gold prices had surged 1.2% in the December 11 trading session, reaching the highest level since October 21.

Gold prices surged after the U.S. Federal Reserve (Fed) concluded its two-day meeting early this morning (Vietnam time) and decided to cut the benchmark interest rate by another 0.25 percentage points with a 9-3 vote.

This marks the third consecutive rate cut this year by the U.S. central bank, as expected by the market, following moves in September and October.

On the economic front, the FOMC raised its 2026 GDP growth forecast to 2.3%, half a percentage point higher than the September outlook. The committee continues to expect inflation to remain above the 2% target until 2028.

In addition to the rate decision, the Fed also announced it would resume purchasing Treasury securities. This move comes amid public concerns about pressure in the interbank market. The Fed will start by purchasing $40 billion in Treasury bills from December 12. The buying activity is expected to “remain high for several months” and may then “significantly decrease.”

Following the meeting, Fed Chair Jerome Powell stated that the central bank’s interest rate policy is well-positioned to respond to what lies ahead for the economy but declined to provide further guidance on whether there will be more rate cuts in the near future.

The Fed’s interest rate projections—known as the dot plot—remained unchanged, with policymakers expecting rates to fall to 3.4% next year, indicating the possibility of two rate cuts.

The central bank anticipates only one potential rate cut in 2027 and expects long-term rates to stabilize at 3.1%.

Lower interest rates increase the appeal of non-yielding assets like gold to investors.

Investors are now awaiting the monthly U.S. non-farm payrolls report, scheduled for release on December 16, for further insights into the Fed’s policy path.

Meanwhile, India’s regulatory authority on Wednesday allowed the country’s pension funds to invest in gold and silver ETFs.