Gold price has not escaped the "red", Bitcoin is exploding, when should you invest to get the best profit?

Gold price today, November 18, 2024, recorded that the world market has not stopped its downward trend. From the peak, the gold price has lost more than 250 USD (equivalent to 9%), a prolonged decline. Vice President of the Vietnam Gold Association Dinh Nho Bang said that it is very difficult to predict how the gold price will develop in the near future.

1. PNJ - Updated: 11/17/2024 22:30 - Time of website supply - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
HCMC - PNJ	80,900	82,600
HCMC - SJC	80,000	83,500
Hanoi - PNJ	80,900	82,600
Hanoi - SJC	80,000	83,500
Da Nang - PNJ	80,900	82,600
Da Nang - SJC	80,000	83,500
Western Region - PNJ	80,900	82,600
Western Region - SJC	80,000	83,500
Jewelry gold price - PNJ	80,900	82,600
Jewelry gold price - SJC	80,000	83,500
Jewelry gold price - Southeast	PNJ	80,900
Jewelry gold price - SJC	80,000	83,500
Jewelry gold price - Jewelry gold price	PNJ 999.9 Plain Ring	80,900
Jewelry gold price - Jewelry gold 999.9	80,800	81,600
Jewelry gold price - Jewelry gold 999	80,720	81,520
Jewelry gold price - Jewelry gold 99	79,880	80,880
Jewelry gold price - 916 gold (22K)	74,350	74,850
Jewelry gold price - 750 gold (18K)	59,950	61,350
Jewelry gold price - 680 gold (16.3K)	54,240	55,640
Jewelry gold price - 650 gold (15.6K)	51,790	53,190
Jewelry gold price - 610 gold (14.6K)	48,530	49,930
Jewelry gold price - 585 gold (14K)	46,490	47,890
Jewelry gold price - 416 gold (10K)	32,700	34,100
Jewelry gold price - 375 gold (9K)	29,350	30,750
Jewelry gold price - 333 gold (8K)	25,680	27,080

Update gold price today 11/18/2024

Domestic gold prices marked the third consecutive week of decline for both SJC gold bars and gold rings, dropping by millions of VND/tael.

Recorded on November 17, the price of SJC gold bars listed by businesses was VND80 million/tael for purchase and VND83.5 million/tael for sale, down VND2.3 million/tael compared to the end of last week. This is the third consecutive week that the price of gold bars has dropped sharply. If calculated from the peak of over VND90 million/tael, the price of gold bars has "dropped" nearly VND7 million.

The price of gold rings and jewelry of all kinds also went down. The price of 99.99 gold rings was listed by SJC Company at 79.8 million VND/tael for buying and 82.3 million VND/tael for selling. PNJ Company traded gold rings at 80.9 million VND/tael for buying and 82.6 million VND/tael for selling.

Compared to seven days ago, the price of gold rings has decreased by about 2.2 million VND/tael. In the past 3 weeks, the price of gold rings has also dropped sharply from the 90 million VND/tael range, losing about 7 million VND per tael.

World gold prices continue to decline.

According to the World and Vietnam Newspaper , as of November 17 (Vietnam time), the world gold price at goldprice.org was at 2,562.86 USD/ounce, down 5.52 USD/ounce compared to the previous trading session.

The precious metal has fallen more than 4% this week. US gold futures fell 0.1% to $2,570.10 an ounce.

Precious metals fell sharply this week, pressured by a powerful combination of post-US presidential election euphoria, expectations of fewer rate cuts by the Federal Reserve, a soaring US dollar and a relatively calm geopolitical environment.

Gold price today November 18, 2024: Gold price has not escaped the 'red', Bitcoin is exploding, when should you buy to make the best profit?. (Source: Getty Images)

Summary of SJC gold bar and gold ring prices at major domestic trading brands at the closing time of November 16:

Saigon Jewelry Company SJC: SJC gold bars 80 - 83.5 million VND/tael; SJC gold rings 79.8 - 82.3 million VND/tael.

Doji Group: SJC gold bars 80 - 83.5 million VND/tael; 9999 round rings (Hung Thinh Vuong) 81.0 - 82.7 million VND/tael.

PNJ system: SJC gold bars 80 - 83.5 million VND/tael; PNJ 999.9 plain gold rings at 80.9 - 82.6 million VND/tael.

Phu Quy Gold and Silver Group: SJC gold bars: 80.3 - 83.5 million VND/tael; Phu Quy 999.9 round gold rings: 80.7 - 82.7 million VND/tael.

SJC gold price at Bao Tin Minh Chau is listed at 80 - 83.5 million VND/tael; plain gold rings are traded at 81.03 - 82.68 million VND/tael.

Gold prices will regain momentum

Gold prices have fallen sharply from a peak of $2,800 an ounce to just over $2,500 an ounce in the past two weeks, causing concern among investors. However, analysts say this may just be a short-term correction before the precious metal regains momentum.

Gold prices fell nearly 5% last week, marking the deepest weekly decline in nearly three years, said Alex Kuptsikevich, senior analyst at FxPro.

From its peak, gold prices have lost more than $250 (or 9%), a decline that has continued since the beginning of the month.

The main reason for the decline comes from the strengthening of the US dollar and expectations about the monetary policy of the US Federal Reserve (Fed).

As the US dollar strengthens, gold - which is priced in dollars - becomes more expensive for international investors, reducing demand.

Mr. Kuptsikevich predicted that gold prices could fall to $2,400/ounce before finding support at the 200-day moving average.

"Looking back at similar corrections in the past, such as 2009 and 2011, which saw declines of 15% and 20%, respectively. In both cases, gold prices subsequently recovered on strong buying. However, he warned that if gold breaks support at the 50-week moving average (currently at $2,330 and rising), it could enter a deeper decline," he cited as an example.

Vice President of the Vietnam Gold Association Dinh Nho Bang said that it is very difficult to predict how gold prices will develop in the near future.

Mr. Dinh Nho Bang said: "We cannot confirm when the gold price will be adjusted down or up, because we are affected by the world gold price. Therefore, investing in gold at this time will have many potential risks. Therefore, both buyers and sellers need to be very careful. Investors should wait until the world gold price is adjusted down and at a stable level before buying, so there will be a better chance of making a profit."

Mr. Shaokai Fan, Director of Asia-Pacific region (excluding China) and Director of Global Central Banks at the World Gold Council (WGC), also said that it is very difficult to make specific forecasts about gold prices in the coming time.

This expert pointed out many factors that could affect gold prices in the coming time for investors to observe and evaluate. In particular, he emphasized the practical impacts of Mr. Trump's policies after he officially took office.

Many believe that the market expects Mr. Trump to become the US president, and tensions in the Middle East or Ukraine will ease. However, these factors are difficult to predict and "it is not known what will happen".

Additionally, Bitcoin price skyrocketed to a new record high after Trump's re-election, creating a strong wave of FOMO (fear of missing out) in the cryptocurrency market.

Kitco's survey results on gold price trends this week show that gold prices have not stopped falling from the analysts' perspective.

Specifically, on Wall Street, 12 analysts participated in the survey, of which only 25% said that gold prices would increase. 50% said that gold prices would decrease. The remaining 25% predicted that gold prices would remain stable.

In an online survey of 181 investors on Main Street, 43% said they see gold prices rising. 39% said they see prices falling. The remaining 18% said they see prices remaining flat.

Source: https://baoquocte.vn/gia-vang-hom-nay-18112024-gia-vang-chua-thoat-sac-do-bitcoin-bung-no-khi-nao-nen-xuong-tien-de-thu-loi-tot-nhat-294048.html