Gold price forecast to fall, oil price to rise, USD to plunge

At the end of the trading session on November 18, the price of SJC 9999 gold bars in Ho Chi Minh City was listed at VND69.95 million per tael for buying and VND70.75 million per tael for selling. The price of SJC 4-digit 9 gold bars in Hanoi was VND69.95 million per tael for buying and VND70.77 million per tael for selling.

Doji gold bar price in Hanoi is traded at 69.95 million VND per tael for buying and 70.75 million VND per tael for selling.

The international spot gold price on Kitco ended the week listed at 1,981.1 USD per ounce. The gold futures price was at 1,984.7 USD per ounce.

Gold prices today, November 19, on the international market are forecast by experts to decrease slightly before entering a new price increase and may reach the threshold of 2,000 USD per ounce.

On the stock market , in the last trading session of the week, November 17, VN-Index decreased by 24.34 points, down to 1,101.19 points. HNX-Index decreased by 3.02 points, down to 226.54 points. UPCoM-Index decreased by 1.11 points, down to 86.02 points.

usd price 1.jpg — USD price plummets (Photo: Reuters)

The central exchange rate between the Vietnamese Dong and the US dollar announced by the State Bank on November 17 was 23,972 VND/USD. The USD price at commercial banks on November 18 was listed around 24,045-24,415 VND/USD (buy - sell).

The world USD price plummeted. The DXY index - measuring the strength of the USD against 6 major currencies - ended the week at 103.82 points, down 0.51% compared to the previous session.

Oil prices ended the week on the world market with a spectacular increase of more than 4% after hitting a 4-month low in the previous trading session. Oil prices have regained the 80 USD per barrel mark. Oil prices unexpectedly turned sharply higher due to profit-taking by investors and the impact of US sanctions on some Russian oil tankers. However, overall, oil prices fell for the fourth consecutive week.

In the domestic market, the retail prices of gasoline and oil today, November 19, are applied according to the prices at the management session on the afternoon of November 13. The retail prices of all gasoline and oil are adjusted down.

Specifically, the price of E5 gasoline decreased to 22,270 VND per liter. The price of RON 95 gasoline decreased to 23,530 VND per liter.
Diesel price dropped to 20,880 VND per liter while kerosene price dropped to 21,510 VND per liter.

Morning financial news 11/18/2023: Gold and oil prices increase, USD continues to decrease Gold prices today 11/18/2023 on the world market increased. World oil prices rose from the lowest level in 4 months. Meanwhile, international USD prices continued to decline.

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