The world gold price today listed on Kitco is at 2,013 USD/ounce, up 12 USD/ounce compared to early this morning.
Precious metal prices hit a more than six-month high as a weaker dollar and expectations of an end to US interest rate hikes fueled strong demand for gold.
The dollar fell 0.1% and hovered around a more than two-month low hit last week, making gold cheaper for holders of other currencies.
Gold is surging past $2,000 an ounce after a report released last week showed inflation and the job market are cooling, said Craig Erlam, senior market analyst at OANDA.
Gold prices continue to climb today. (Photo: gainesvillecoins).
In a recent note, commodity analysts at Goldman Sachs said they expect higher gold prices in 2024 and raised their 12-month target to $2,050 an ounce. The upside momentum for gold remains strong buying from Chinese and Indian consumers and central banks.
Gold price movements today
+ Domestic gold price
At 6:30 a.m. on November 28, the gold price at Doji was listed at 71.5 - 72.5 million VND/tael (buy - sell), an increase of 300,000 VND/tael in the selling price compared to early this morning.
Meanwhile, the gold price at SJC was listed at 71.7 - 72.5 million VND/tael (buy - sell), up 400,000 and 200,000 VND/tael (buy - sell).
+ International gold price
The world gold price listed on Kitco is at 2,013 USD/ounce, up 12 USD/ounce compared to early this morning. Gold futures last traded at 2,015 USD/ounce.
Gold Price Forecast
Investors are now awaiting revised US third-quarter GDP figures due on Wednesday and the core consumer price index, the Federal Reserve's preferred inflation gauge, on Thursday.
Economic data released this week will determine whether gold stays above $2,000 an ounce, according to Capital.com financial market analyst Kyle Rodda.
Recent data showing slowing U.S. inflation has raised expectations that the Fed will ease monetary conditions sooner than expected. Traders expect the Fed to hold rates steady in December, while pricing in a roughly 60% chance of a rate cut in May next year, according to the CME FedWatch tool. Lower interest rates reduce the opportunity cost of holding interest-bearing assets like gold.
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