Gold prices today, November 13, 2024, lost the $2,600/ounce mark, falling to a nearly two-month low as the US dollar strengthened. Investors were interested in the fuel and stock markets, resulting in very little money flowing into precious metals.
| 1. PNJ - Updated: 11/13/2024 00:00 - Time of website supply - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 81,200 | 82,800 |
| HCMC - SJC | 80,500 | 84,000 |
| Hanoi - PNJ | 81,200 | 82,800 |
| Hanoi - SJC | 80,500 | 84,000 |
| Da Nang - PNJ | 81,200 | 82,800 |
| Da Nang - SJC | 80,500 | 84,000 |
| Western Region - PNJ | 81,200 | 82,800 |
| Western Region - SJC | 80,500 | 84,000 |
| Jewelry gold price - PNJ | 81,200 | 82,800 |
| Jewelry gold price - SJC | 80,500 | 84,000 |
| Jewelry gold price - Southeast | PNJ | 81,200 |
| Jewelry gold price - SJC | 80,500 | 84,000 |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 81,200 |
| Jewelry gold price - Jewelry gold 999.9 | 81,100 | 81,900 |
| Jewelry gold price - Jewelry gold 999 | 81,020 | 81,820 |
| Jewelry gold price - Jewelry gold 99 | 80,180 | 81,180 |
| Jewelry gold price - 916 gold (22K) | 74,620 | 75,120 |
| Jewelry gold price - 750 gold (18K) | 60,180 | 61,580 |
| Jewelry gold price - 680 gold (16.3K) | 54,440 | 55,840 |
| Jewelry gold price - 650 gold (15.6K) | 51,990 | 53,390 |
| Jewelry gold price - 610 gold (14.6K) | 48,710 | 50,110 |
| Jewelry gold price - 585 gold (14K) | 46,660 | 48,060 |
| Jewelry gold price - 416 gold (10K) | 32,820 | 34,220 |
| Jewelry gold price - 375 gold (9K) | 29,460 | 30,860 |
| Jewelry gold price - 333 gold (8K) | 25,780 | 27,180 |
Update gold price today 11/13/2024
Domestic gold prices continue to fall sharply - recorded on the afternoon of November 12.
SJC gold in Hanoi bought at 80.5 million VND/tael - sold at 84.4 million VND/tael (down 1.4 million VND/tael for both buying and selling).
Phu Quy SJC Gold: Buy 80.8 million VND/tael - sell 84.1 million VND/tael (down 1.3 million VND/tael for both buy and sell).
DOJI Gold in Hanoi and DOJI in Ho Chi Minh City: Buy 80.5 million VND/tael - sell 84 million VND/tael (down 1.4 million VND/tael for both buy and sell).
The price of SJC gold bars at Bao Tin Minh Chau Company Limited is traded by the enterprise at 80.5 million VND/tael for buying - 84 million VND/tael for selling (down 1.4 million VND/tael for both buying and selling).
Plain round gold rings are traded by businesses at 81.23 million VND/tael for buying (down 1.85 million VND/tael) - 83.38 million VND/tael for selling (down 1.55 million VND/tael).
From the peak of SJC gold bar price, each tael has "evaporated" about 6 million VND.
Mr. Tran Huu Dang, General Director of ASEAN Gold and Gemstone Joint Stock Company (AJC), said that the market is almost empty of buyers. He said: "Although there are not many customers buying gold, businesses and shop owners can still "defend" against risks because the buying price is 3 million VND/tael lower than the selling price. Meanwhile, people buying gold at this time may suffer because the world gold price is on a downward trend, leading to the possibility that the domestic gold price may decrease further."
World gold prices lost the $2,600/ounce mark, falling to a nearly two-month low in the afternoon trading session on November 12 due to the strengthening of the USD.
According to the World and Vietnam Newspaper at 6:00 p.m. on November 12, the world gold price on the Kitco exchange was at 2,594.9 - 2,595.9 USD/ounce, down 24.2 USD/ounce compared to the previous trading session.
Investors are awaiting a slew of key US economic data and comments from Federal Reserve officials for further clarity on interest rate trends.
Gold is also under pressure due to President-elect Donald Trump's pro-bitcoin stance, which could serve as an alternative wealth preserver to gold, analysts at Berenberg said.
Gold is seen as a hedge against inflation, but higher interest rates have dented the appeal of the precious metal. Traders see a 65% chance of the Fed cutting rates by December 2024, compared with about 80% before Trump's victory, according to the CME FedWatch Tool.
Market focus will be on upcoming US economic data including the October 2024 Consumer Price Index due on Wednesday (November 13), the Producer Price Index and weekly jobless claims due on Thursday (November 14) and retail sales data on Friday (November 15).
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| Gold price today November 13, 2024: Gold price 'drops' 6 million/tael, no buyers, Vietnam and the world have a headache. (Source: Shutterstock) |
Summary of gold prices at major domestic trading brands at closing times of trading session on the afternoon of November 12:
Saigon Jewelry Company SJC: SJC gold bars 80.5 - 84 million VND/tael; SJC gold rings 81.23 - 83.38 million VND/tael.
Doji Group: SJC gold bars 80.5 - 84 million VND/tael; 9999 round rings (Hung Thinh Vuong) 80.5 - 83.2 million VND/tael.
PNJ system: SJC gold bars 81.2 - 82.8 million VND/tael; PNJ 999.9 plain gold rings: 83.1 - 84.9 million VND/tael.
Phu Quy Gold and Silver Group: SJC gold bars 80.5 - 84.0 million VND/tael; Phu Quy 999.9 round gold rings: 81.2 - 82.8 million VND/tael.
The price of SJC gold at Bao Tin Minh Chau is listed at 82.5 - 84 million VND/tael. The price of round, smooth gold rings at Vang Rong Thang Long is listed at 80.52 - 83.12 million VND/tael.
Little money flows into precious metals
During the question-and-answer session with Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong on November 11, many delegates raised the issue of the difference in world and domestic gold prices, showing that the market is not stable, with gold prices racing to new peaks, making "buyers dizzy and management agencies having headaches."
Delegates all suggested that the authorities need to find solutions to help people give up the mentality of hoarding gold and save resources for the economy.
The Governor of the State Bank of Vietnam said that gold is currently a "headache" problem not only for Vietnam but also for the whole world.
Before the State Bank intervened in the gold market, the world gold price was around 2,300-2,400 USD /ounce, but has now increased to 2,700 USD /ounce.
Since the beginning of the year, the world gold price has increased by more than 50%.
"Gold prices are not really stable. The State Bank will propose and advise on amending Decree 24/2012 according to the anti-gold policy," said Ms. Nguyen Thi Hong.
Regarding the world market, Mr. Daniel Ghali, analyst at TD Securities, commented: "The possibility of high tariffs being applied during Donald Trump's presidency and the need to hold USD are putting pressure on gold prices, as it is also related to the possibility that the Fed may delay cutting interest rates."
On the other hand, the sharp drop in crude oil prices to $68/barrel and the greenback in US stocks have stimulated investors' interest in the fuel and stock markets. As a result, very little money flows into precious metals.
In addition, investors are concerned about a drop in demand for gold from China, after the country's central bank stopped buying the precious metal for the sixth consecutive month. Accordingly, many people have sold gold to make a profit, causing the price to "evaporate violently".
Source: https://baoquocte.vn/gia-vang-hom-nay-13112024-gia-vang-boc-hoi-du-doi-vang-khach-mua-viet-nam-va-the-gioi-cung-dau-dau-293478.html
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