Gold price is rising happily, about to reach an all-time high, the focus of the US economy, SJC gold is on the rise

Gold price today November 28, 2023, Gold price reached its highest level in more than 6 months, firmly above $2,000/ounce. Economic data released this week in the US, both in terms of GDP growth and inflation, will determine the direction of the precious metal. SJC gold increased in the same direction.

LIVE UPDATE TABLE OF GOLD PRICE TODAY 11/28 and EXCHANGE RATE TODAY 11/28

1. PNJ - Updated: November 27, 2023 21:30 - Time of website supply - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
HCMC - PNJ	60,500 ▲300K	61,700 ▲300K
HCMC - SJC	71,600 ▲400K	72,500 ▲400K
Hanoi - PNJ	60,500 ▲300K	61,700 ▲300K
Hanoi - SJC	71,600 ▲400K	72,500 ▲400K
Da Nang - PNJ	60,500 ▲300K	61,700 ▲300K
Da Nang - SJC	71,600 ▲400K	72,500 ▲400K
Western Region - PNJ	60,500 ▲300K	61,700 ▲300K
Western Region - SJC	71,500 ▲200K	72,500 ▲200K
Jewelry gold price - PNJ rings (24K)	60,500 ▲300K	61,600 ▲250K
Jewelry Gold Price - 24K Jewelry	60,400 ▲300K	61,200 ▲300K
Jewelry Gold Price - 18K Jewelry	44,650 ▲220K	46,050 ▲220K
Jewelry Gold Price - 14K Jewelry	34,550 ▲170K	35,950 ▲170K
Jewelry Gold Price - 10K Jewelry	24,210 ▲130K	25,610 ▲130K

Domestic gold price on the morning of November 27, in Hanoi market, DOJI Gold and Gemstone Group listed SJC gold price at 71.1 - 72.1 million VND/tael (buy - sell), down 100 thousand VND/tael for buying and down 200 thousand VND/tael for selling compared to the closing price last weekend.

Saigon Jewelry Company listed the price of SJC gold at 71.4 - 72.32 million VND/tael, an increase of 100,000 VND/tael in buying price and unchanged in selling price compared to the closing price last weekend.

Phu Quy Gold and Gemstone Group listed the price of SJC gold at 71.4 - 72.35 million VND/tael (buy - sell), keeping the same price for buying and increasing 100 thousand VND/tael for selling compared to the closing price at the end of last week.

Gold price today November 28, 2023: Gold price is rising, about to reach an all-time high, the focus of the US economy, SJC gold is on the rise. (Source: Reuters)

Meanwhile, in the Asian market, gold prices rose in the first trading session of the week on November 27, surpassing the important milestone of 2,000 USD/ounce, thanks to the weak USD and speculation that the US Federal Reserve (Fed) has completed its roadmap for raising interest rates.

Spot gold rose 0.7% to $2,015.09 an ounce. Meanwhile, US gold futures for December 2023 delivery rose 0.6% to $2,015.80 an ounce.

The dollar index fell 0.1% against a basket of major currencies, nearing a more than two-month low hit last week, making gold cheaper for investors holding other currencies.

Summary of SJC gold prices at major domestic trading brands at the closing time of November 27:

Saigon Jewelry Company listed the price of SJC gold at 71.7 - 72.5 million VND/tael.

Doji Group currently lists the price of SJC gold at: 71.5 - 72.5 million VND/tael.

PNJ system listed at: 71.2 - 72.2 million VND/tael.

SJC gold price at Bao Tin Minh Chau is listed at: 71.72 - 72.38 million VND/tael; Rong Thang Long gold brand is traded at 61.03 - 62.03 million VND/tael; jewelry gold price is traded at 60.60 - 61.80 million VND/tael.

Thus, compared to the early morning of November 27, the closing price of SJC gold in the Hanoi market listed by Saigon Jewelry Company increased by VND300,000/tael for buying and VND180,000/tael for selling.

According to World & Vietnam Newspaper , at 8:02 p.m. on November 27 (Vietnam time), the world gold price on Kitco floor was at 2,013.1 - 2,014.3 USD/ounce, an increase of 10.6 USD/ounce compared to the previous trading session.

Converted according to the USD price at Vietcombank on November 27, 1 USD = 24,415 VND, the world gold price is equivalent to 59.30 million VND/tael, 13.2 million VND/tael lower than the selling price of SJC gold.

Gold hits 6-month high

Gold prices hit a more than six-month high on Monday, holding steady above $2,000 an ounce, as a weaker dollar and expectations of an end to US interest rate hikes boosted demand.

Spot gold was up 0.5% at $2,012.33 an ounce at 1147 GMT, after hitting its highest since May 16 at $2,017.82. U.S. gold futures also rose 0.5% to $2,013.10.

The dollar fell 0.1% against a basket of major currencies, hovering around a more than two-month low touched last week and making gold cheaper for holders of other currencies.

“Gold is rallying and it has finally broken through $2,000 an ounce in a significant way,” said Craig Erlam , senior market analyst at OANDA.

Gold prices are well above their 50-, 100- and 200-day moving averages and are about $60 away from their August 2020 all-time high of $2,072.49.

Investors' attention will be focused on the release of US third-quarter GDP data on November 29 and the PCE price index, the Fed's preferred inflation gauge, on November 30.

“The economic data released this week from the US, both in terms of GDP growth and inflation, will determine whether gold can stay above $2,000,” said Kyle Rodda , financial markets analyst at Capital.com.

Latest data showing slowing US inflation has raised expectations that the Fed will ease monetary conditions sooner than expected.

Minutes of the Fed's latest meeting released last week showed that the central bank will take a more cautious approach to monetary policy and all participants in the Fed meeting judged that maintaining current interest rates was appropriate.

Traders expect the Fed to keep rates unchanged in December, while estimating a roughly 60% chance of a rate cut by May 2024.

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