LIVE UPDATE TABLE OF GOLD PRICE TODAY 11/25 AND EXCHANGE RATE TODAY 11/25
| 1. PNJ - Updated: 11/24/2023 22:00 - Website supply time - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 60,100 ▲350K | 61,250 ▲300K |
| HCMC - SJC | 71,000 ▲200K | 71,900 ▲200K |
| Hanoi - PNJ | 60,100 ▲350K | 61,250 ▲300K |
| Hanoi - SJC | 71,000 ▲200K | 71,900 ▲200K |
| Da Nang - PNJ | 60,100 ▲350K | 61,250 ▲300K |
| Da Nang - SJC | 71,000 ▲200K | 71,900 ▲200K |
| Western Region - PNJ | 60,100 ▲350K | 61,250 ▲300K |
| Western Region - SJC | 71,400 ▲600K | 72,000 ▲400K |
| Jewelry gold price - PNJ rings (24K) | 60,100 ▲350K | 61,200 ▲300K |
| Jewelry Gold Price - 24K Jewelry | 60,050 ▲350K | 60,850 ▲350K |
| Jewelry Gold Price - 18K Jewelry | 44,390 ▲260K | 45,790 ▲260K |
| Jewelry Gold Price - 14K Jewelry | 34,350 ▲210K | 35,750 ▲210K |
| Jewelry Gold Price - 10K Jewelry | 24,060 ▲140K | 25,460 ▲140K |
Domestic gold prices turned to increase again in the afternoon trading session on November 24. Specifically, today's SJC 9999 gold price increased by 350,000 VND/tael in both buying and selling compared to early this morning.
Phu Quy Gold and Gemstone Group listed the price of SJC gold at 71.00 - 71.82 million VND/tael (buy - sell), an increase of 200,000 VND/tael.
Since the beginning of 2023, the price of SJC gold bars has increased by about 3.5 million VND/tael. Meanwhile, the price of gold rings of the same brand has increased by about 7 million VND/tael, nearly double the increase of gold bars.
However, due to the difference between buying and selling prices, gold ring buyers have only made a profit of about 6 million VND per tael since the beginning of the year.
World gold prices remained high thanks to the weakening USD with the USD-Index standing below 104 points. At the same time, the US market is currently on holiday and the forecast that the US Federal Reserve (Fed) will stop raising interest rates also supported the precious metal to stay high.
However, the uncertainty surrounding what the Fed will do next will last longer, which will also make it difficult for gold prices to rise.
US central bank officials agreed at their most recent policy meeting that they would proceed cautiously and only raise interest rates if progress in controlling inflation slowed.
According to TG&VN , at 7:00 p.m. on November 24, the world gold price on Kitco was trading at 1,995.9 - 1,996.9 USD/ounce, up 3.8 USD compared to the previous session.
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| Gold price today November 25, 2023: Gold price waiting for new catalyst, will 'land' at 2,100 USD/ounce? Buy gold rings for big profits. (Source: Kitco) |
Update on domestic gold prices at major trading brands at the close of trading session on November 24:
Saigon Jewelry Company listed the price of SJC gold at 71.00 - 71.82 million VND/tael.
Doji Group currently lists the price of SJC gold at: 70.90 - 71.80 million VND/tael.
Phu Quy Group listed at: 71.05 - 71.85 million VND/tael.
PNJ system listed at: 71.00 - 71.90 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at: 71.10 - 71.85 million VND/tael; Rong Thang Long gold brand is traded at 60.73 - 61.73 million VND/tael; jewelry gold price is traded at 60.30 - 61.50 million VND/tael.
Gold prices are lacking catalysts
Quant Insight analyst Huw Roberts said the precious metal lacks a catalyst to increase prices.
The expert noted that the gold market is in a positive macro mode and is growing but there is no strong buying signal. He said that the market is in a spiral pattern, fluctuating within a narrow range and waiting for a new catalyst to break out.
However, some experts remain optimistic that gold prices will move higher as seasonal factors could play a bigger role in price action and be a positive factor for gold.
Gold's year-end seasonal trade is one of the most reliable trades in the market, said Forexlive.com strategist Adam Button.
Precious metals are also forecast to have positive prospects in 2024 as many countries are still racing to accumulate more gold when the world is unstable and want to reduce dependence as well as reduce the role of the USD.
Demand for gold is expected to be high in the coming months as several Asian countries, including China and India, enter their peak gold consumption season of the year.
In a latest report, according to the World Gold Council (WGC), China is in a period of widespread gold buying, increasing its gold reserves over the past 12 months.
Many forecasts say that gold is entering an upward phase, with prices possibly exceeding $2,100/ounce this year and continuing to rise in 2024, possibly even reaching $3,000/ounce (about VND90 million/tael).
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