World gold price plummets on shocking sale day 11-11

At the end of today, November 11, the world gold price evaporated more than 29 USD/ounce, down to 2,655.6 USD/ounce.

World gold price plummets tonight - Screenshot

Experts predict gold prices will continue to fall

Compared to the peak of 2,787.1 USD/ounce, the world gold price has decreased a total of 131.5 USD/ounce in just a short time.

Converted according to the exchange rate listed at the bank, the world gold price is equivalent to 81.56 million VND/tael.

World gold prices fell sharply after the US presidential election results were as predicted.

In the last 5 US presidential elections, gold prices always increased by 40 - 50 USD/ounce on election day and then had a series of price decreases for many consecutive months, the decrease could be up to 300 USD/ounce.

In fact, world gold prices fell 1.8% last week, marking the sharpest weekly decline since June.

Many analysts are pessimistic about the short-term outlook for gold prices due to the rising trend of the US dollar, and investors rushing to buy higher-risk assets such as stocks and cryptocurrencies.

Analysts say that President-elect Donald Trump’s economic policies will tend to increase inflation, leading to expectations that US interest rates will stay high for longer. This is the main reason for the strong appreciation of the USD.

The price of virtual currency Bitcoin tonight set a record at 81,801 USD, up more than 18.2% in the past 7 days - according to data from Coinmarketcap.

Domestic gold prices also went down.

Domestic gold prices also continuously decrease following the decline in world gold prices - Photo: THANH HIEP

SJC Company has reduced the selling price of SJC gold bars to 85.4 million VND/tael, the buying price is at 81.9 million VND/tael.

The price of 9999 gold rings listed at SJC Company also decreased to 84.3 million VND/tael. The buying price of gold rings is 100,000 VND/tael lower than that of gold bars: 81.8 million VND/tael.

The difference between buying and selling prices of gold remains quite large: 3.5 million VND/tael for SJC gold bars and 2.5 million VND/tael for gold rings.

At Bao Tin Minh Chau Company, the selling price of gold rings at the end of today was 84.93 million VND/tael. The buying price was 83.08 million VND/tael.

DOJI Company also reduced the selling price of 9999 gold rings to 84.95 million VND/tael. The buying price is 83.15 million VND/tael.

Compared to the converted world gold price, the price of SJC gold bars is 3.84 million VND/tael higher.

Source: https://tuoitre.vn/gia-vang-the-gioi-lao-doc-bang-bang-trong-ngay-sale-soc-11-11-20241111205653845.htm