Gold prices today, November 21, 2024, marked their third consecutive day of gains, driven by a weaker US dollar and escalating Russia-Ukraine tensions. Experts believe that buying activity occurred amidst escalating geopolitical tensions, fueling a stronger risk-averse sentiment.
| 1. PNJ - Updated: 20/11/2024 23:00 - Time on source website - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| Ho Chi Minh City - PNJ | 84,000 ▲400K | 85,200 ▲400K |
| Ho Chi Minh City - SJC | 82,700 ▲700K | 85,700 ▲700K |
| Hanoi - PNJ | 84,000 ▲400K | 85,200 ▲400K |
| Hanoi - SJC | 82,700 ▲700K | 85,700 ▲700K |
| Da Nang - PNJ | 84,000 ▲400K | 85,200 ▲400K |
| Da Nang - SJC | 82,700 ▲700K | 85,700 ▲700K |
| Western Region - PNJ | 84,000 ▲400K | 85,200 ▲400K |
| Western Region - SJC | 82,700 ▲700K | 85,700 ▲700K |
| Gold jewelry prices - PNJ | 84,000 ▲400K | 85,200 ▲400K |
| Gold jewelry prices - SJC | 82,700 ▲700K | 85,700 ▲700K |
| Gold jewelry prices - Southeast Vietnam | PNJ | 84,000 ▲400K |
| Gold jewelry prices - SJC | 82,700 ▲700K | 85,700 ▲700K |
| Gold jewelry prices - Gold jewelry prices | PNJ Plain Ring 999.9 | 84,000 ▲400K |
| Gold jewelry prices - 999.9 gold jewelry | 83,900 ▲400K | 84,700 ▲400K |
| Gold jewelry prices - 999 gold jewelry | 83,820 ▲400K | 84,620 ▲400K |
| Gold jewelry prices - 99% pure gold jewelry | 82,950 ▲390K | 83,950 ▲390K |
| Jewelry gold prices - 916 (22K) gold | 77,190 ▲370K | 77,690 ▲370K |
| Jewelry gold price - 750 (18K) gold | 62,280 ▲300K | 63,680 ▲300K |
| Jewelry gold price - 680 gold (16.3K) | 56,350 ▲280K | 57,750 ▲280K |
| Jewelry gold price - 650 gold (15.6K) | 53,810 ▲260K | 55,210 ▲260K |
| Jewelry gold price - 610 gold (14.6K) | 50,420 ▲250K | 51,820 ▲250K |
| Jewelry gold prices - 585 Gold (14K) | 48,300 ▲230K | 49,700 ▲230K |
| Jewelry gold price - 416 Gold (10K) | 33,990 ▲170K | 35,390 ▲170K |
| Jewelry gold price - 375 (9K) gold | 30,510 ▲150K | 31,910 ▲150K |
| Jewelry gold price - 333 Gold (8K) | 26,700 ▲130K | 28,100 ▲130K |
Gold price update for today, November 21, 2024
Domestic gold prices recorded their third consecutive day of gains.
At the close of trading on November 20th, Saigon Jewelry Company (SJC) listed the price of gold bars at 82.7 - 85.7 million VND, an increase of 700,000 VND per tael compared to the previous day.
Four banks also raised the selling price of this type of gold to 85.7 million.
Plain gold rings also increased in price by nearly one million dong per tael, ranging from 82.7 to 84.9 million dong. Specifically, the price of SJC 9999 gold rings traded at 82.7 million dong/tael for buying and 84.9 million dong/tael for selling, an increase of 500,000 dong/tael.
At DOJI Gold and Gemstone Group, plain gold rings are trading at 84.1 - 85.1 million VND for buying and selling respectively.
PNJ raises the price of plain rings to 83.9 - 84.9 million VND.
Since the beginning of the week, the price of gold rings has recovered by 3 million VND per tael, currently about 5 million VND lower than the record high at the end of October.
Global gold prices rose to a one-week high on the afternoon of November 20th, marking a third consecutive day of gains, driven by a weaker US dollar and escalating Russia-Ukraine tensions, which increased demand for safe-haven assets.
According to the World and Vietnam Newspaper at 6 PM on November 20th, the price was $ 2,628.76 per ounce, the highest level since November 11th.
The dollar's upward trend has paused, making precious metals more attractive to buyers holding other currencies.
According to observers, worrying news surrounding the Russia-Ukraine conflict is contributing to market instability, boosting demand for safe-haven assets like gold. With the latest developments, the precious metal has seen a rapid increase in buying demand.
Goldman Sachs has just released a report continuing its forecast that gold will reach $3,000 per ounce in 2025. In the medium and long term, gold is also supported by the US Federal Reserve's interest rate cutting cycle.
In other developments, several Fed officials are expected to further clarify the path of interest rate cuts this week.
Currently, traders see a 58.9% probability that the Fed will cut interest rates by 25 basis points in December. Recent strong economic data and the proposed tariffs by US President-elect Donald Trump suggest that interest rates will remain higher for a longer period.
 |
| Gold prices today, November 21, 2024: Gold 'sparkles' as investors increase buying due to escalating Russia-Ukraine conflict and USD retreats. (Source: Yahoo Finance) |
Summary of gold prices at major domestic gold trading brands at the close of trading on the afternoon of November 20th:
Saigon Jewelry Company (SJC): SJC gold bars priced at 82.7 - 85.7 million VND/ounce.
Doji Group: SJC gold bars priced at 82.7 - 85.7 million VND/ounce.
PNJ system: SJC gold bars priced at 84 - 85.2 million VND/ounce.
Phu Quy Gold and Silver Group: SJC gold bars priced at 82.7 - 85.7 million VND/ounce.
The price of SJC gold at Bao Tin Minh Chau is listed at 83.2 - 85.7 million VND/ounce.
Increase your gold holdings to mitigate risks.
Jim Wyckoff, senior analyst at Kitco News, noted that the buying activity occurred as geopolitical tensions heated up, fueling stronger risk-averse sentiment.
Accordingly, recent developments in the Russia-Ukraine conflict have also fueled a wave of gold purchases as a safe-haven asset. Meanwhile, investors are still awaiting key signals regarding the Fed's interest rate plans.
Another factor supporting gold bullion is the retreat of the US dollar after last week's sharp rise to a one-year high following Donald Trump's victory in the US presidential election.
Mark Leibovit, an expert from VR Metals/Resource Letter, believes that world gold prices could fall to $2,300 per ounce before recovering. However, he remains optimistic and predicts that gold prices could reach $3,700 per ounce in the near future.
Meanwhile, Commerzbank analysts note that, as factors favorable to gold remain strong, lower prices are driving buying activity.
The bank added that geopolitical instability, central bank buying, and growing budget deficits in the US and other Western countries are factors that continue to support gold prices.
In addition, the depreciation of the US dollar after its sharp rise last week also supported gold prices. A weaker dollar makes gold cheaper for buyers holding other currencies.
Source: https://baoquocte.vn/gia-vang-hom-nay-21112024-gia-vang-lap-lanh-nha-dau-tu-tang-mua-vi-xung-dot-nga-ukraine-nong-len-usd-thoai-lui-294424.html
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