Domestic gold ring price continued to decrease slightly on the morning of November 6

DNVN - On the morning of November 6, domestic gold ring prices continued to decrease slightly, while world gold prices increased ahead of the US election.

Specifically, at 9:00 a.m., Saigon Jewelry Company (SJC) announced that the price of gold rings fluctuated from 86.7 - 88.2 million VND/tael (buy - sell), down 100,000 VND/tael in both buying and selling directions compared to yesterday's closing session.

DOJI Gold and Gemstone Group kept the listed price of gold rings at VND87.5 - 88.5 million/tael (buy - sell) compared to the previous closing session.

The price of SJC gold bars remained unchanged, as Saigon Jewelry Company (SJC) announced the listed price at 87 - 89 million VND/tael (buy - sell), unchanged from yesterday.

DOJI also kept the listed price of SJC gold bars at 87 - 89 million VND/tael (buy - sell), unchanged from the previous session.

Previously, on November 5, world gold prices showed signs of increasing when surveys showed that the race to the White House between former US President Donald Trump and Vice President Kamala Harris was very fierce.

At 1:52 a.m. on November 6 (Vietnam time), spot gold prices increased by 0.2% to $2,740.96/ounce. Meanwhile, US gold futures increased slightly by 0.1% to close at $2,749.70/ounce.

Expert Han Tan from Exinity Group predicts that gold prices could reach $2,800/ounce after the election.

In addition to the election, the market is also looking ahead to the US Federal Reserve meeting on November 6-7, which is expected to cut interest rates by 0.25 percentage points. This could be the next interest rate cut this year, after the adjustment in September 2024.

Gold has always been considered a tool to protect assets against economic and political fluctuations. When interest rates are low, gold prices tend to increase, helping the price of this precious metal increase by nearly 33% since the beginning of the year.

Cao Thong (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-nhan-trong-nuoc-sang-6-11-tiep-tuc-giam-nhe/20241106095753845