Stop increasing under pressure of USD

Updated gold price closing session 11/30. Illustration photo: Phan Anh

Domestic gold price

Domestic gold price closed on November 30.

Domestic gold price fluctuations

Source: VDOS Dragon Online Service JSC.

World gold price developments

Source: Kitco

World gold prices stopped increasing amid the increase of the USD. Recorded at 7:15 p.m. on November 30, the US Dollar Index, which measures the fluctuations of the greenback against 6 major currencies, was at 103.255 points (up 0.56%).

Investors are waiting for the US personal consumption expenditure (PCE) index to see if the US Federal Reserve (FED) will cut interest rates sooner than expected.

Gold prices were little changed in today's session, ahead of PCE data released later in the day, said market analyst Yeap Jun Rong of IG.

This expert said that the positive GDP figures in the third quarter of the US could not push back market speculations about the possibility of the FED cutting interest rates, because investors are still following clues from recent comments by FED officials.

Meanwhile, expert Jeffrey Roach of LPL Financial said that inflation is trending down, consumers are still spending but at a slower pace, and the FED can end the interest rate hike cycle without affecting the economy too much. Traders are currently predicting that the FED will lower interest rates in the first half of next year.

Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-chot-phien-3011-dung-tang-truoc-suc-ep-dong-usd-1274167.ldo