Gold prices today, November 26, 2024: Gold prices unexpectedly reversed course and fell sharply amidst the latest developments in the US market. Two factors are putting pressure on the precious metal. Prices of gold rings and gold bars are following this sharp decline.
| 1. PNJ - Updated: 25/11/2024 21:30 - Website time of source - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| Ho Chi Minh City - PNJ | 84,400 ▼1,100K | 85,800 ▼1,000K |
| Ho Chi Minh City - SJC | 84,600 ▼400K | 86,600 ▼400K |
| Hanoi - PNJ | 84,400 ▼1,100K | 85,800 ▼1,000K |
| Hanoi - SJC | 84,600 ▼400K | 86,600 ▼400K |
| Da Nang - PNJ | 84,400 ▼1,100K | 85,800 ▼1,000K |
| Da Nang - SJC | 84,600 ▼400K | 86,600 ▼400K |
| Western Region - PNJ | 84,400 ▼1,100K | 85,800 ▼1,000K |
| Western Region - SJC | 84,600 ▼400K | 86,600 ▼400K |
| Gold jewelry prices - PNJ | 84,400 ▼1,100K | 85,800 ▼1,000K |
| Gold jewelry prices - SJC | 84,600 ▼400K | 86,600 ▼400K |
| Gold jewelry prices - Southeast Vietnam | PNJ | 84,400 ▼1,100K |
| Gold jewelry prices - SJC | 84,600 ▼400K | 86,600 ▼400K |
| Gold jewelry prices - Gold jewelry prices | PNJ Plain Ring 999.9 | 84,400 ▼1,100K |
| Gold jewelry prices - 999.9 gold jewelry | 84,300 ▼1,100K | 85.100 ▼1100K |
| Gold jewelry prices - 999 gold jewelry | 84,220 ▼1090K | 85,020 ▼1,090K |
| Gold jewelry prices - 99% pure gold jewelry | 83,350 ▼1090K | 84,350 ▼1090K |
| Jewelry gold prices - 916 (22K) gold | 77,550 ▼1010K | 78,050 ▼1010K |
| Jewelry gold price - 750 (18K) gold | 62,580 ▼820K | 63,980 ▼820K |
| Jewelry gold price - 680 gold (16.3K) | 56,620 ▼750K | 58,020 ▼750K |
| Jewelry gold price - 650 gold (15.6K) | 54,070 ▼710K | 55,470 ▼710K |
| Jewelry gold price - 610 gold (14.6K) | 50,660 ▼670K | 52,060 ▼670K |
| Jewelry gold prices - 585 Gold (14K) | 48,530 ▼650K | 49,930 ▼650K |
| Jewelry gold price - 416 Gold (10K) | 34,150 ▼460K | 35,550 ▼460K |
| Jewelry gold price - 375 (9K) gold | 30,660 ▼420K | 32,060 ▼420K |
| Jewelry gold price - 333 Gold (8K) | 26,830 ▼370K | 28,230 ▼370K |
Gold price update for today, November 26, 2024
Domestic gold prices remained unchanged on the morning of November 25th.
Specifically, at DOJI Gold and Gemstone Group, the price of gold rings is listed at 85.6 - 86.6, maintaining the same listed price for both buying and selling compared to the previous closing session.
Similarly, Saigon Jewelry Company (SJC) announced the price of gold rings at 85 - 86.5 million VND/ounce (buying price - selling price), maintaining the same listed price for both buying and selling compared to the previous closing session.
Similar to gold rings, the price of SJC gold bars has also remained unchanged compared to the end of last week. Specifically, Saigon Jewelry Company (SJC) announced the price of SJC gold bars at 85 - 86.5 million VND/ounce (buying price - selling price), maintaining the same listed price for both buying and selling compared to the previous closing session.
DOJI Gold and Gemstone Group announced the selling price of SJC gold bars at 85.6-86.6 million VND/ounce (buying price - selling price), maintaining the same listed price for both buying and selling compared to the previous closing session.
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| Gold prices today, November 26, 2024: Gold prices unexpectedly reversed course, pressured by Trump's decision; gold rings and gold bars plummeted simultaneously. (Source: Reuters) |
Summary of gold prices at major domestic gold trading brands at the close of trading on the afternoon of November 25th:
Saigon Jewelry Company (SJC): SJC gold bars 84.6 - 86.6 million VND/ounce; SJC gold rings 84 - 85.6 million VND/ounce.
Doji Group: SJC gold bars 84.6 – 86.6 million VND/ounce; 9999 gold rings (Hung Thinh Vuong brand) 84.3 – 85.8 million VND/ounce.
PNJ system: SJC gold bars: 84.6 – 86.6 million VND/ounce; PNJ 999.9 plain gold rings: 84.4 – 85.8 million VND/ounce.
Phu Quy Gold and Silver Group: SJC gold bars: 84.6 - 86.6 million VND/ounce; Phu Quy 999.9 round gold rings: 84.3 - 85.7 million VND/ounce.
The price of SJC gold at Bao Tin Minh Chau is listed at 84.6 - 86.6 million VND/ounce. The price of plain round gold rings from Thang Long Gold Dragon is listed at 84.58 - 85.98 million VND/ounce.
Thus, compared to the morning session of November 25th, the closing price of gold rings at businesses showed a downward trend in the afternoon session of the same day. Accordingly, the price of gold bars listed by DOJI Gold and Gemstone Group decreased by 1 million VND/ounce in the buying price, while remaining unchanged in the selling price; meanwhile, the price of gold rings listed by this company decreased by 1.3 million VND/ounce in the buying price and decreased by 800,000 VND/ounce in the selling price.
According to World & Vietnam Newspaper and information on Kitco News , as of 7:42 PM Vietnam time on November 25th, the world gold price was listed at 2,682.9 USD/ounce, a decrease of 34 USD/ounce compared to the previous trading session.
Based on the USD exchange rate at Vietcombank on November 25th, 1 USD = 25,506 VND, the world gold price is equivalent to 82.45 million VND per tael.
World gold prices plummet.
World gold prices fell 1% on November 25th as investors took profits after a five-session rally that reached a three-week high, while the announcement that US President-elect had chosen billionaire Scott Bessent as Treasury Secretary dampened safe-haven buying.
Spot gold prices fell 1% to $2,686.73 per ounce as of 11:47 GMT, after dropping 2% earlier in the session. US gold futures fell 0.9% to $2,688.40 per ounce.
Two factors putting pressure on gold include profit-taking after last week's sharp price increase and the nomination of billionaire Scott Bessent as US Treasury Secretary, with some market participants viewing him as less pessimistic about the trade war, said UBS analyst Giovanni Staunovo .
Gold has traditionally been considered a safe investment amid economic and political risk, while some strategists believe Bessent's nomination is a relief because the billionaire understands the market and his appointment could reduce the likelihood of imposing strict tariffs on U.S. trading partners.
Market participants are also watching the minutes of the Federal Reserve's November FOMC meeting, GDP data (first revision), and core PCE figures, all of which will be released this week.
"Overall, the market expects the Fed to cut interest rates by 25 basis points at its next meeting on December 18, although traders have scaled back their bets on this outcome in recent days," Frank Watson , market analyst at Kinesis Money, said in a note.
According to CME's Fedwatch tool, traders now see a 56% chance that the Fed will cut interest rates by another 25 basis points in December.
"We still expect the Fed to cut interest rates by 25 basis points, but the more important part for the market will be whether the charts suggest smaller rate cuts next year," analyst Giovanni emphasized.
Recently, Samantha Dart, Co-Director of Commodity Research at Goldman Sachs, predicted that the price of gold could reach $3,000 per ounce by 2025.
This assessment by Ms. Dart is based on the trend of central banks continuing to increase their purchases of precious metals, along with strong capital inflows into gold exchange-traded funds (ETFs) as the Fed begins cutting interest rates. This reflects a strong increase in demand for gold as a safe-haven asset amid economic volatility.
Source: https://baoquocte.vn/gia-vang-hom-nay-26112024-gia-vang-bat-ngo-quay-xe-chiu-suc-ep-tu-quyet-dinh-cua-ong-trump-vang-nhan-va-vang-mieng-dong-loat-lao-doc-295054.html
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