9999 gold ring slightly decreased following the world gold trend

Domestic gold price today 11/2/2024

At the time of survey at 5:00 a.m. on November 2, 2024, the gold price on the trading floors of some companies was as follows:

Today, DOJI listed the price of 9999 gold at 88.1 million VND/tael for buying and 89.1 million VND/tael for selling. Compared to yesterday, the price of DOJI gold rings decreased by 550 thousand VND/tael in both buying and selling directions.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at VND88.5-89.5 million/tael (buy - sell). Compared to yesterday, the price of SJC gold bars decreased by VND800,000/tael for buying and VND500,000/tael for selling.

The price of SJC gold at Bao Tin Minh Chau Company Limited was also traded by the enterprise at 87.5-89.5 million VND/tael (buy - sell). The price of SJC gold bars today decreased by 500 thousand VND/tael in both buying and selling directions compared to yesterday.

At Bao Tin Manh Hai, it is being traded at 88-90 million VND/tael (buy - sell).

The latest gold price list today, November 2, 2024 is as follows:

Gold price today	November 2, 2024 (million dong)		Difference (thousand dong/tael)
	Buy	Sell	Buy	Sell
SJC in Hanoi	87.5	89.5	-500	-500
DOJI Group	87.5	89.5	-500	-500
Red Eyelashes	88.5	89.5	-800	-500
PNJ	87.5	89.5	-500	-500
Vietinbank Gold		89.5	-	-500
Bao Tin Minh Chau	87.5	89.5	-500	-500
Bao Tin Manh Hai	88	90	-	-

1. DOJI - Updated: 11/2/2024 05:00 - Source website time - ▼/▲ Compared to yesterday.
Type	Buy	Sell
AVPL/SJC HN	87,500 ▼500K	89,500 ▼500K
AVPL/SJC HCM	87,500 ▼500K	89,500 ▼500K
AVPL/SJC DN	87,500 ▼500K	89,500 ▼500K
Raw material 9999 - HN	88,000 ▼550K	88,400 ▼550K
Raw material 999 - HN	87,900 ▼550K	88,300 ▼550K
AVPL/SJC Can Tho	87,500 ▼500K	89,500 ▼500K

2. PNJ - Updated: 11/2/2024 05:00 - Time of the source website - ▼/▲ Compared to yesterday.
Type	Buy	Sell
HCMC - PNJ	88,000 ▼400K	89,150 ▼350K
HCMC - SJC	87,500 ▼500K	89,500 ▼500K
Hanoi - PNJ	88,000 ▼400K	89,150 ▼350K
Hanoi - SJC	87,500 ▼500K	89,500 ▼500K
Da Nang - PNJ	88,000 ▼400K	89,150 ▼350K
Da Nang - SJC	87,500 ▼500K	89,500 ▼500K
Western Region - PNJ	88,000 ▼400K	89,150 ▼350K
Western Region - SJC	87,500 ▼500K	89,500 ▼500K
Jewelry gold price - PNJ	88,000 ▼400K	89,150 ▼350K
Jewelry gold price - SJC	87,500 ▼500K	89,500 ▼500K
Jewelry gold price - Southeast	PNJ	88,000 ▼400K
Jewelry gold price - SJC	87,500 ▼500K	89,500 ▼500K
Jewelry gold price - Jewelry gold price	PNJ 999.9 Plain Ring	88,000 ▼400K
Jewelry gold price - Jewelry gold 999.9	87,900 ▼400K	88,700 ▼400K
Jewelry gold price - Jewelry gold 999	87,810 ▼400K	88,610 ▼400K
Jewelry gold price - Jewelry gold 99	86,910 ▼400K	87,910 ▼400K
Jewelry gold price - 916 gold (22K)	80,850 ▼370K	81,350 ▼370K
Jewelry gold price - 750 gold (18K)	65,280 ▼300K	66,680 ▼300K
Jewelry gold price - 680 gold (16.3K)	59,070 ▼270K	60,470 ▼270K
Jewelry gold price - 650 gold (15.6K)	56,410 ▼260K	57,810 ▼260K
Jewelry gold price - 610 gold (14.6K)	52,860 ▼240K	54,260 ▼240K
Jewelry gold price - 585 gold (14K)	50,640 ▼230K	52,040 ▼230K
Jewelry gold price - 416 gold (10K)	35,650 ▼170K	37,050 ▼170K
Jewelry gold price - 375 gold (9K)	32,010 ▼150K	33,410 ▼150K
Jewelry gold price - 333 gold (8K)	28,020 ▼130K	29,420 ▼130K

3. SJC - Updated: 11/2/2024 04:30 - Source website time - ▼/▲ Compared to yesterday.
Type	Buy	Sell
SJC 1L, 10L, 1KG	87,500 ▼500K	89,500 ▼500K
SJC 5c	87,500 ▼500K	89,520 ▼500K
SJC 2c, 1c, 5c	87,500 ▼500K	89,530 ▼500K
SJC 99.99 gold ring 1 chi, 2 chi, 5 chi	87,400 ▼300K	88,900 ▼300K
SJC 99.99 gold ring 0.3 chi, 0.5 chi	87,400 ▼300K	89,000 ▼300K
Jewelry 99.99%	87,300 ▼300K	88,700 ▼300K
Jewelry 99%	85,821 ▼297K	87,821 ▼297K
Jewelry 68%	57,972 ▼204K	60,472 ▼204K
Jewelry 41.7%	34,641 ▼125K	37,141 ▼125K

World gold price today November 2, 2024 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was 2,747.28 USD/Ounce. Today's gold price increased by 12.39 USD/Ounce compared to yesterday. Converted according to the USD exchange rate, on the free market (25,790 VND/USD), the world gold price is about 86.36 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 3.14 million VND/tael higher than the international gold price.

Investors are now wondering whether this is the long-awaited gold price correction, or just a minor dip before the market quickly buys back in.

After a series of consecutive peaks, the world gold price yesterday, November 1, dropped sharply from a record high of 2,789 USD/ounce to 2,746 USD/ounce.

Domestic gold prices today, November 2, also decreased following the world gold trend, with SJC gold bars decreasing by about 500,000 VND/tael, and gold rings decreasing by 400-500,000 VND/tael depending on the brand.

Notably, during this price reduction, the domestic gold market has had different developments. Instead of announcing out of stock as before, on the afternoon of November 1, many large gold shops in Hanoi opened for sale freely, without issuing numbers and without limiting the number of buyers. This has attracted many customers to buy on the first day of the month when prices have dropped sharply.

Gold prices have rallied sharply over the past two years, up nearly 70% from their September 2022 lows, and this week hit a new record of $2,790 an ounce, close to the psychologically important $2,800 an ounce. This shows that the gold market is in an uptrend.

Even if the price does drop a bit, gold will still be considered in a long-term uptrend as long as it does not fall below $2,550/ounce, with support levels (those that are likely to keep the price from falling further) around $2,685 and $2,605/ounce. These levels act as a “cushion” of support, preventing the price of gold from falling too far.

In terms of price increases, if gold breaks above $2,800 an ounce, it could continue to rise to the important psychological level of $3,000 an ounce, a level that many analysts predict will be reached by the end of 2024 or early 2025.

Despite rising market risks, David Morrison, senior analyst at Trade Nation, said the gold market may not be ready for a sharp decline.

However, according to Mr. Morrison, “at current levels, gold is not as overbought as it was in April. Therefore, prices may rise a little more before reaching the ‘decisive point’.”

Some other analysts said they do not expect a major correction until gold prices hit $3,000 an ounce, a key psychological and inflation-adjusted threshold.

While gold may be volatile in the short term, many experts still see lower prices as a buying opportunity. Strong fundamentals, such as geopolitical uncertainty, continue to support gold's upward trend.

World gold prices today, November 2, increased again, recovering from the previous session's decline, due to the weakening of the USD and US Treasury bond yields when data showed that US job growth slowed significantly in October.

“The biggest factor this morning was the poor jobs report from the U.S.… with the current backdrop of interest rates, debt concerns and uncertainty, gold prices have rallied,” said Bob Haberkorn, senior market strategist at RJO Futures.

U.S. job growth last month was hurt by hurricanes and a strike by aerospace workers. The dollar fell after the report, while 10-year Treasury yields also fell.

However, the unemployment rate remains unchanged, and economists expect the US Federal Reserve (Fed) to address the situation and likely cut interest rates by another 0.25% next week.

“I think gold will stay high all day going into the weekend, especially with the US election and concerns about Iran retaliating against Israel,” Haberkorn added.

Polls show the race between Donald Trump and Kamala Harris in the November 5 US presidential election is very close.

Saxo Bank said that while the Fed's tone is no longer so "dovish" after some positive economic data, the Fed is still likely to cut interest rates on November 7, which could further increase investment demand for gold-based ETFs.

However, high gold prices continue to weigh on physical gold demand in major Asian regions. Gold consumption in China fell 11% in the first nine months of 2024.

Source: https://baodaknong.vn/gia-vang-hom-nay-2-11-2024-vang-nhan-9999-giam-nhe-theo-xu-huong-vang-the-gioi-233257.html