Gold prices today (November 29) are constantly "dancing". The price of SJC gold bars has officially reached a historical peak of 74.4 million VND/tael. Gold rings set a new record, trading around 62.3 million VND/tael.
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| (Photo: Reuters) |
Gold price continues to increase "shockingly" by 1 million VND/tael, officially reaching the record level set in March 2022 (74.4 million VND/tael).
As of 8:40 a.m. on November 29, DOJI gold prices in Hanoi and Ho Chi Minh City were listed at VND73.1 million/tael for buying and VND74.5 million/tael for selling, up VND800,000 and VND1 million/tael respectively compared to the previous session.
Meanwhile, the listed SJC gold price for buying and selling was 73.2-74.42 million VND/tael, up 700,000 VND and 900,000 VND/tael respectively compared to the previous day's closing price.
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| Gold price statistics of Dragon Viet Online Service Joint Stock Company VDOS - Updated at 8:40 a.m. on November 29. |
The price of SJC gold rings has not ended its streak of consecutive increases, reaching a new record, buying at 60.5 million VND/tael, selling at 61.6 million VND/tael.
PNJ Gold is buying at 61.1 million VND/tael and selling at 62.2 million VND/tael, up 500,000 VND and 400,000 VND/tael respectively compared to the previous session.
As of 8:00 a.m. on November 27 (Vietnam time), the world gold price increased by 30.9 USD compared to the previous session, trading at 2,044.5 USD/ounce. This is the highest price of gold since May and is heading towards the next high.
December gold futures last traded at $2,044.40 an ounce, up $4.40.
Gold continued its "vertical" rise, far surpassing the resistance level of 2,000 USD, because the market believed that the US Federal Reserve (FED) had ended its interest rate hike.
Gold continues to receive support from a weaker greenback and falling Treasury yields as expectations mount that the Fed has completed its rate hike cycle and is on track to cut rates in 2024, FXTM senior analyst Lukman Otunuga told Kitco News.
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| Gold price chart on the morning of November 29. (Photo: kitco.com) |
Gold prices are approaching the December price target of $2,050 from commodity analysts at Goldman Sachs. According to Goldman Sachs experts, the driving force for the spectacular price increase of gold is still strong buying from Chinese and Indian consumers and increasing demand for gold reserves from central banks.
This morning, the yield on 10-year US Treasury bonds hovered near a two-month low (4.317%), the USD-Index fell to 102.65 points, near its lowest level since late August 2023, making gold cheaper for holders of other currencies; US stocks continued to “shake”; oil prices rose slightly, trading at $81.47/barrel for Brent oil and $76.69/barrel for WTI oil.
According to NGOC BICH/Nhan Dan Electronic Newspaper
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