World gold price drops sharply, domestic price immediately adjusts

(Dan Tri) - Profit-taking pressure and the market's lowered expectations of an early interest rate cut by the Fed have caused world gold prices to plummet, dragging down domestic prices as well.

Gold price drops

At the end of the trading session on November 14, the price of SJC gold bars was listed by large enterprises at 151.2-153.2 million VND/tael (buy-sell), down 1.3 million VND/tael in both directions compared to the end of the previous session. Before that, the price of gold bars was close to a record level. The difference between buying and selling prices remained around 2 million VND/tael.

The peak of gold bars was recorded on October 21, at 153.6-154.6 million VND/tael. Compared to this level, the current buying price is 2.4 million VND lower, and the selling price is 1.4 million VND lower per tael.

Gold rings decreased following the general trend, listed around 147.8-151.2 million VND/tael.

Domestic gold prices fell amid a slump in the global market. On the international market, the precious metal traded around $4,080/ounce, down $89/ounce from the previous session.

World gold prices fell sharply as expectations of a US Federal Reserve interest rate cut in December weakened over the weekend. Profit-taking pressure from short-term traders also increased.

“The possibility that the Fed will not be in a hurry to loosen its policy has weakened the rally in gold and silver. The cautious stance of Fed officials has shaken global stock markets, causing selling pressure on many assets,” said David Meger, an expert from High Ridge Futures.

Markets are pricing in a 51% chance of a 25 basis point rate cut next month, down from 64% in the previous assessment, according to CME Group's FedWatch tool.

Meanwhile, the US government has reopened after 43 days, a new record. However, analysts say the lack of economic data during this period will make it difficult for the Fed to determine inflation and employment trends. Some central banks have even said they are reluctant to cut interest rates next month due to the lack of a clear picture.

Gold items are displayed for sale by businesses (Photo: Hai Long).

USD slightly decreased

On the same day, the central exchange rate announced by the State Bank was 25,122 VND/USD, down 3 VND compared to the previous session. According to the ±5% band, the exchange rate at commercial banks is allowed to fluctuate between 23,865-26,378 VND/USD.

At commercial banks, the USD price also decreased according to management. The buying price is currently around 26,100-26,160 VND/USD, while the common selling price is 26,378 VND/USD.

In the free market, the USD increased by 50 VND in both directions compared to yesterday, trading around 27,700-27,900 VND/USD. The free exchange rate is currently about 8.3% higher than at the beginning of the year.

Source: https://dantri.com.vn/kinh-doanh/vang-the-gioi-giam-sau-gia-trong-nuoc-lap-tuc-dieu-chinh-20251115071948097.htm