On December 28, 2024, the global gold market reflected notable shifts, with prices declining sharply as many traders navigated through the fluctuations driven by economic indicators. Specifically, spot gold traded down to $2,622.18 per ounce, representing a reduction of 0.47% over the previous 24 hours.
Meanwhile, domestically within Vietnam, the price of SJC gold remained stable at nearly 85 million VND per tael, which exemplifies the volatility between local and international markets. The difference between local SJC gold prices and the global rate was approximately 4 million VND per tael, primarily attributed to rising US Treasury yields and the strengthening of the US dollar against other currencies.
According to the report from THPL, "Lợi suất trái phiếu kho bạc Mỹ tăng cao và đồng bạc xanh mạnh lên trong phiên giao dịch cuối của tuần đã làm giảm sức hấp dẫn của kim loại quý này". This increase indicates how investor preference can shift based on macroeconomic conditions, affecting the allure of gold as a safe haven asset.
The increment of 28% this year, which saw gold hitting its peak at $2,790.15 per ounce on October 31, 2024, showcases how geopolitical tensions and interest rate adjustments by the Federal Reserve impacted the precious metals market. The backdrop of such shifts is tied to the potential return of Donald Trump, where political agendas promise inflationary policies likely to influence the market dynamics moving forward.
On the cryptocurrency front, Bitcoin observed its second consecutive day of corrections, trading at $94,151, registering more than 1.7% decline over the last 24 hours as reported by Coindesk. Despite the slips, the overall market capitalization remained significant, with Bitcoin holding 55.7% of the total $3,356 trillion cryptocurrency market.
The continuing adjustments have been marked by higher liquidity, indicating growing market activity with Bitcoin’s market cap hovering around $1.86 trillion. Other cryptocurrencies like Ethereum also faced marginal declines of about 1%, displaying how volatility remains rampant across digital assets.
Coindesk noted, "Hàng loạt đồng tiền mã hóa khác cũng có xu hướng điều chỉnh trong 24 giờ qua," highlighting the interconnected nature of blockchain economies and the ripple effect stemming from Bitcoin’s adjustments. Even with the fluctuations, the interest in digital currencies persists, driven by the volatile yet high-yield opportunities they present.
On the broader economic scale, uncertainty from geopolitical conflicts, particularly involving Russia and Ukraine, has kept investor anxiety high. Such dynamics influence the investment strategies across both gold and Bitcoin markets, steering individuals toward perceived safer assets.
Going forward, market analysts project careful observation of Federal Reserve policy shifts during their January session, with indicators showing high chances (89.3%) of maintaining current interest rates. This stability, coupled with global tensions, continues to create dichotomous scenarios for both traditional and digital assets.
Overall, as both gold and Bitcoin navigate through their unique challenges, the interplay between economic policies, currency strengths, and investor behavior will shape their respective futures, illuminating the paths for potential investment endeavors.
