Update on gold price closing on November 9: Sudden drop

Gold price update today (November 9th): As of 5:58 PM, the domestic gold price is listed around 69.1 - 70.2 million VND/ounce (buying price - selling price). Meanwhile, the world gold price listed on Kitco is at 1,945.7 USD/ounce.

Gold price update at the close of trading on November 9th. (Illustrative image: Phan Anh)

Domestic gold prices

Domestic gold prices closed the trading session on November 9th.

Domestic gold price developments

Source: Rong Viet Online Services Joint Stock Company (VDOS).

World gold price developments

Source: Kitco

Globally, as of 6 PM on November 9th (Vietnam time), the price of gold stood at $1,945 per ounce, continuing to show signs of a slight decline.

According to an analysis published on Kitco News, December gold futures have hit a three-week low. The four-week uptrend on the daily bar chart has been negated.

Gold rose to $2,000 per ounce from $1,840 per ounce following the Israel-Hamas conflict. However, after several days of rapid increases, world gold prices began to trend downwards. According to the World Gold Council, demand for gold bars and coins decreased by 14% in the third quarter of this year.

Experts believe that after keeping interest rates stable for the second consecutive meeting, the Federal Reserve (FED) cannot raise interest rates any further. With high interest rates and rising credit card debt, consumers are facing difficulties and are selling their gold at these higher prices to raise cash for short-term needs.

Source: https://laodong.vn/kinh-doanh/cap-nhat-gia-vang-chot-phien-911-dot-ngot-sut-giam-1265213.ldo