Gold price today November 17: USD "evaporates" violently, gold increases sharply

Gold price today increased by tens of USD/ounce

At around 6:00 a.m. on November 17, the price of gold on the international market was trading at 1,980 USD/ounce, up 20 USD compared to the lowest price in last night's trading session of 1,960 USD/ounce.

Gold prices rose sharply today after US inflation reports cooled. The market speculated that the US Federal Reserve (FED) has completed its interest rate hike cycle and could cut interest rates in 2024.

In response to this information, the USD "evaporated" violently compared to 6 other strong currencies, including: Euro, JPY (Japanese Yen), GBP (British Pound), CAD (Canadian Dollar), SEK (Swedish Krona) and CHF (Swiss Franc).

Meanwhile, US bonds have become less attractive as bond interest rates have dropped to 4.4% per year. Accordingly, investors have shifted their capital to precious metals to seek profit opportunities. The world gold price today has more momentum to increase sharply.

In Vietnam, the price of SJC gold at the end of November 16 was traded at 70.6 million VND/tael - an increase of 200,000 VND/tael compared to the price at the beginning of the day of 70.4 million VND/tael./.

According to NLĐ

Source