SJC gold price continues to fall sharply, gold rings still "reign" at the top

11/24/2023 10:34 Nhat Linh Print article

ANTD.VN - While the price of SJC gold continues to decrease sharply, ring gold is still holding steady at its all-time high price.

After a strong increase last Wednesday, gold prices have continuously adjusted down. In yesterday's trading session, SJC gold decreased by about 200,000 - 350,000 VND per tael. The downward trend of gold prices continued this morning when businesses simultaneously adjusted the price of SJC gold down by 200,000 - 350,000 VND per tael.

Accordingly, Saigon Jewelry Company (SJC) listed the price of SJC gold brand early this morning at 70.55 - 71.37 million VND/tael, down 250 thousand VND/tael in both buying and selling directions.

Thị trường vàng đang dõi theo động thái chính sách của Fed

Gold market is watching Fed policy moves

DOJI Group listed the price at 70.55 - 71.45 million VND/tael, down 350 thousand VND/tael for buying, down 250 thousand VND/tael for selling;

Phu Quy is currently listing the national gold brand at 70.65 - 71.45 million VND/tael, down 200 thousand VND/tael in both directions...

Non-SJC gold prices today temporarily stopped falling, even increasing by about 100 - 200 thousand VND per tael compared to the same time yesterday morning, continuing to trade at an all-time "peak".

Specifically, PNJ gold price listed early this morning at 59.75 - 60.95 million VND/tael; SJC 99.99 ring 59.85 - 60.95 million VND/tael.

Although Bao Tin Minh Chau's Thang Long Gold Dragon Round Ring has also been adjusted, it is maintaining a very high price, at 60.56 - 61.56 million VND/tael...

In the world , gold prices today fluctuated little because the US market is closed for Thanksgiving. Asian gold fluctuated this morning, increasing and decreasing within a narrow range of a few USD per ounce, trading around 1,993 USD/ounce.

Gold prices are fluctuating and tending to be "stuck" below the threshold of 2,000 USD/ounce in the context that the market is watching US economic data with the hope of predicting the direction of the US Federal Reserve (Fed).

Most analysts do not expect to see much upside for the rest of the week, as markets continue to digest the minutes of the agency's November monetary policy meeting, due out Tuesday afternoon.

Although the US central bank kept interest rates unchanged at its latest meeting, the minutes showed the Fed is maintaining a “hawkish” stance as it expects to keep rates high for some time yet.

Gold prices had found strong support earlier in the week, on expectations that the Fed's rate hike cycle was over.

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