Update on the closing price of gold on November 9: Sudden drop

Update on gold price today (November 9): As of 5:58 p.m., domestic gold price is listed around 69.1 - 70.2 million VND/tael (buy - sell). Meanwhile, world gold price listed on Kitco is at 1,945.7 USD/ounce.

Domestic gold price

Domestic gold price developments

World gold price developments

In the world, at 6:00 p.m. on November 9, Vietnam time, the gold price stood at 1,945 USD/ounce, continuing to show signs of a slight decrease.

December gold futures hit a three-week low, with a four-week uptrend on the daily bar chart being negated, according to analysis posted on Kitco News.

Gold rose to $2,000 an ounce from $1,840 an ounce after the Israel-Hamas conflict. However, after several days of rising sharply, world gold prices began to decline. According to the World Gold Council, demand for gold bars and coins fell 14% in the third quarter of this year.

Experts say that after keeping interest rates steady for the second consecutive meeting, the US Federal Reserve (FED) cannot raise interest rates any further. With high interest rates and rising credit card debt, consumers are struggling and people are having to sell their gold at higher levels to raise cash for short-term needs.

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