DNVN - On November 21, spot gold prices increased for the fourth consecutive session, reaching the highest level in more than a week due to increased demand for safe investments due to Nvidia's negative forecast and escalating tensions between Russia and Ukraine.
Specifically, at 17:20 GMT (equivalent to 0:20 a.m. on November 22, Vietnam time), the spot gold price on the COMEX floor (USA) recorded an increase of 0.5%, reaching 2,664.27 USD/ounce. The futures gold price also increased by 0.6%, to 2,666.80 USD/ounce.
“ Geopolitical factors, particularly Russia-Ukraine tensions, have been playing a major role in driving the gold market over the past few days,” said David Meger, director of metals trading at High Ridge Futures.
Global uncertainties continue to drive investor money into “safe haven” assets like gold, especially after the Middle East conflict erupted last October. With the US vetoing a Gaza ceasefire resolution and Russia-Ukraine tensions escalating again, gold has regained its appeal after a recent decline.
Spot gold rose 4% this week, heading for its biggest weekly gain since April 2024, after suffering its steepest weekly decline in more than three years. According to experts, gold prices are likely to approach the resistance level of $ 2,700 / ounce in the near future.
Also on November 21, the prices of other precious metals were mixed: silver fell 0.5% to $30.73/ounce, platinum fell slightly 0.1% to $960.62/ounce, while palladium rose 1.3% to $1,034.50/ounce.
In the Vietnamese market, on the same afternoon, Saigon Jewelry Company announced the listed price of SJC gold in Hanoi at 83.70 - 86.20 million VND/tael (buy - sell).
Cao Thong (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-the-gioi-tang-manh-dat-dinh-hon-mot-tuan-qua/20241122083817144
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