LIVE UPDATE TABLE OF GOLD PRICE TODAY 11/4 and EXCHANGE RATE TODAY 11/4
| 1. PNJ - Updated: 11/04/2023 01:30 - Website supply time - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 58,700 | 59,800 |
| HCMC - SJC | 69,700 | 70,400 |
| Hanoi - PNJ | 58,700 | 59,800 |
| Hanoi - SJC | 69,700 | 70,400 |
| Da Nang - PNJ | 58,700 | 59,800 |
| Da Nang - SJC | 69,700 | 70,400 |
| Western Region - PNJ | 58,700 | 59,800 |
| Western Region - SJC | 69,750 | 70,350 |
| Jewelry gold price - PNJ rings (24K) | 58,700 | 59,700 |
| Jewelry Gold Price - 24K Jewelry | 58,500 | 59,300 |
| Jewelry Gold Price - 18K Jewelry | 43,230 | 44,630 |
| Jewelry Gold Price - 14K Jewelry | 33,440 | 34,840 |
| Jewelry Gold Price - 10K Jewelry | 23,420 | 24,820 |
Domestic gold prices fluctuated unexpectedly in the trading session on November 3. At the end of the afternoon trading session, SJC gold prices decreased by about VND250,000 per tael compared to the opening price of the morning session. Accordingly, the SJC gold price of Saigon Jewelry Company in Hanoi was announced at VND69.70-70.42 million per tael.
Similarly, the price of SJC gold at Doji Company in Ho Chi Minh City also decreased by 200,000 VND per tael, currently this company is trading from 69.75-70.40 million VND/tael (buy/sell).
World gold prices surpassed the important support threshold of 2,000 USD/ounce in the afternoon trading session on November 3. According to TG&VN at 7:40 p.m. on November 3, world gold prices on Kitco were trading at 2,001 - 2,002 USD/ounce, up 16 USD compared to the previous session.
Gold prices jumped as the US labor market cooled last month, with the world's largest economy creating fewer jobs than expected.
According to the Bureau of Labor Statistics, US nonfarm payrolls increased by 150,000 last month. The monthly figure was lower than the market consensus estimate of 178,000. The report also noted that the US unemployment rate rose to 3.9% in October. Economists had expected growth to remain unchanged at 3.8%.
The disappointing jobs numbers are providing some solid buying momentum as gold prices trade near session highs. December gold futures were last trading at $2,006.40 an ounce, up 0.66% on the day.
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| Gold price today November 4, 2023: Gold price 'rides the wave' to increase above 2,000 USD/ounce, surpassing the record is only a matter of time. (Source: Getty Images) |
Summary of SJC gold prices at major domestic trading brands at the closing time of November 3:
Saigon Jewelry Company listed the price of SJC gold at 69.65 - 70.37 million VND/tael.
Doji Group currently lists SJC gold price at: 69.60 - 70.40 million VND/tael.
Phu Quy Group currently lists the price of SJC gold at: 69.65 - 70.40 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at 69.70 - 70.38 million VND/tael; Rong Thang Long gold brand is traded at 59.08 - 60.03 million VND/tael; jewelry gold price is traded at 58.65 - 59.85 million VND/tael.
Will it conquer the all-time high?
At the end of its policy meeting, the Federal Open Market Committee (FOMC) decided to keep the interest rate unchanged in the range of 5.25 - 5.5%. Speaking afterwards, officials said that the rise in Treasury yields reduced the need to push rates higher. However, managers also left open the possibility of raising rates again.
Bill Dudley, former president of the New York Fed, said that Chairman Jerome Powell is confident that the Fed has done a lot in the past. Therefore, the Fed Chairman's speech seemed to convey the message "We don't think we need to do much more."
Mr. Powell repeatedly said that the FOMC is acting “cautiously,” which observers said suggests that he does not really think the Fed will change policy immediately.
Mr. Powell’s somewhat “softer” stance was warmly welcomed by the markets. Accordingly, the USD Index fell 0.7% and the US 10-year bond yield fell to a nearly three-week low.
Robert Minter, investment strategist at Abrdn exchange-traded fund, said that the central bank's "hawkish" stance will not be enough to prevent gold prices from rising above $2,000 an ounce and reaching an all-time high.
With concerns about an economic recession, geopolitical tensions still present and demand from central banks still strong, it is only a matter of time before gold reaches a record high, the expert explained.
On the contrary, senior strategist Bob Haberkorn of RJO Futures company assessed that gold prices are strengthening due to signs of weakness in the US labor market, the basis for the Fed to completely end the interest rate hike here.
"However, looking at the long term, if the Fed keeps interest rates higher for longer, gold prices will face some obstacles.
Gold prices rose 7% in October, surpassing $2,000 an ounce, driven by hedging demand related to the war in Gaza. The war between Israel and Hamas is still raging, but that doesn’t seem to have much of an impact on gold prices at the moment.
Gold prices already reflect geopolitical risks, if the conflict becomes more tense, gold prices will increase further," said Mr. Haberkorn.
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