Gold price today 11/3/2024, gold price decreased before a US election with many variables. However, the strong "wave" of selling will soon pass, analysts are still optimistic. The domestic market fluctuates in the same direction as the world.
| 1. PNJ - Updated: 11/03/2024 10:02 - Time of website supply - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 88,000 | 89,150 |
| HCMC - SJC | 87,500 | 89,500 |
| Hanoi - PNJ | 88,000 | 89,150 |
| Hanoi - SJC | 87,500 | 89,500 |
| Da Nang - PNJ | 88,000 | 89,150 |
| Da Nang - SJC | 87,500 | 89,500 |
| Western Region - PNJ | 88,000 | 89,150 |
| Western Region - SJC | 87,500 | 89,500 |
| Jewelry gold price - PNJ | 88,000 | 89,150 |
| Jewelry gold price - SJC | 87,500 | 89,500 |
| Jewelry gold price - Southeast | PNJ | 88,000 |
| Jewelry gold price - SJC | 87,500 | 89,500 |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 88,000 |
| Jewelry gold price - Jewelry gold 999.9 | 87,900 | 88,700 |
| Jewelry gold price - Jewelry gold 999 | 87,810 | 88,610 |
| Jewelry gold price - Jewelry gold 99 | 86,910 | 87,910 |
| Jewelry gold price - 916 gold (22K) | 80,850 | 81,350 |
| Jewelry gold price - 750 gold (18K) | 65,280 | 66,680 |
| Jewelry gold price - 680 gold (16.3K) | 59,070 | 60,470 |
| Jewelry gold price - 650 gold (15.6K) | 56,410 | 57,810 |
| Jewelry gold price - 610 gold (14.6K) | 52,860 | 54,260 |
| Jewelry gold price - 585 gold (14K) | 50,640 | 52,040 |
| Jewelry gold price - 416 gold (10K) | 35,650 | 37,050 |
| Jewelry gold price - 375 gold (9K) | 32,010 | 33,410 |
| Jewelry gold price - 333 gold (8K) | 28,020 | 29,420 |
Update gold price today 11/3/2024
Domestic gold prices fluctuated last week
Domestic gold prices remained stable on the morning of October 28. Specifically, DOJI Gold and Gemstone Group listed the price of gold rings at VND87.9 - 88.9 million/tael (buy - sell), keeping the listed price for both buying and selling unchanged compared to the previous session.
Phu Nhuan Jewelry Joint Stock Company announced the price of gold rings at 87.6 - 88.9 million VND/tael (buy - sell), keeping the listed price in both buying and selling directions unchanged compared to the previous closing price.
Along with that, the price of SJC gold bars also remained unchanged. Accordingly, Saigon Jewelry Company (SJC) announced the price of SJC gold bars at 87 - 89 million VND/tael (buy - sell), keeping the listed price in both buying and selling directions unchanged compared to the previous closing price.
After 3 sessions of increasing fluctuations in the middle of the week, by the session of November 1, along with the cooling trend of world gold prices, domestic gold ring and gold bar prices were adjusted down. Specifically, Saigon Jewelry Company SJC announced the price of gold rings at 87.4 - 89.4 million VND/tael (buy - sell), down 300 thousand VND/tael in the buying direction and down 200 thousand VND/tael in the selling direction compared to the previous session's close; SJC gold bar price was at 87.5 - 89.5 million VND/tael (buy - sell), down 500 thousand VND/tael in both buying and selling directions compared to the previous session's close.
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| Gold price today November 3, 2024: Gold price fluctuates amid US election waves, advice for smart investors, gold rings 'take another step'. (Source: Kitco News) |
Summary of SJC gold bar and gold ring prices at major domestic trading brands at the closing time of November 2:
Saigon Jewelry Company SJC: SJC gold bars 87.5 - 89.5 million VND/tael; SJC gold rings 87.4 - 88.9 million VND/tael.
Doji Group: SJC gold bars 87.5 - 89.5 million VND/tael; 9999 round rings (Hung Thinh Vuong) 88.0 - 89.0 million VND/tael.
PNJ system: SJC gold bars 87.5 - 89.5 million VND/tael; PNJ 999.9 plain gold rings at 88.0 - 89.15 million VND/tael.
Phu Quy Gold and Silver Group: SJC gold bars: 87.7 - 89.5 million VND/tael; Phu Quy 999.9 round gold rings: 87.9 - 89.1 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at 87.5 - 89.5 million VND/tael; plain gold rings are traded at 87.98 - 88.98 million VND/tael.
According to the World and Vietnam Newspaper , at 4:37 p.m. on November 2 (Vietnam time), the world gold price at goldprice.org was at 2,736.41 USD/ounce, down 6.04 USD/ounce compared to the previous trading session.
Converted according to USD price at Vietcombank on November 2, 1 USD = 25,454 VND, world gold price is equivalent to 83.92 million VND/tael.
World gold prices under great pressure before US election
After another rally to a new record high, gold traders had a Halloween scare this Thursday morning, leading to a sharp sell-off, despite a modest rally on weak US data, but gold eventually ended at where it started the week.
There was another scare on Friday morning, as the US October non-farm payrolls report showed just 12,000 new jobs created last month, well below the 100,000 expected, along with downward revisions to previous months’ data. This sent gold prices down to $2,761 an ounce shortly after, but the North American open provided some downside momentum, pushing gold back below $2,740 an ounce.
The latest Kitco News weekly gold survey shows bearish sentiment from both industry professionals and retail traders, with recent pullbacks and election uncertainty clearly weighing on the precious metals market.
“I am neutral on gold next week,” said Colin Cieszynski , chief market strategist at SIA Wealth Management.
Marc Chandler , CEO at Bannockburn Global Forex, said that next week's support is likely priced in, so the risk remains tilted to the downside.
“Gold has hit record highs in recent days, but has stalled below $2,800 an ounce,” he said. “It’s worth noting that gold sold off sharply as U.S. equities fell on October 31, almost as if it was being liquidated.”
He noted that five G10 central banks are meeting next week. “The Fed and the Bank of England will cut by 25 basis points,” Chandler said. “Sweden will cut by 50 basis points. Norway and Australia will keep it the same.”
“Then, of course, there’s the US election,” he continued. “I suspect a Trump win would be good for gold, while a Harris win would have less clear implications.”
“Up,” said Adrian Day , chairman of Adrian Day Asset Management. “The resilience of gold has been incredible. All the reasons for different groups to buy are still there. Lower interest rates in a sluggish economy and unchecked inflation are a powerful combination for gold.”
“Bearish,” said Darin Newsom , senior market analyst at Barchart.com. “I’m going to keep this view for the second week in a row, although I don’t know how next week will play out.”
“I see gold moving higher next week,” said Rich Checkan , president and CEO of Asset Strategies International. “There are quite a few variables that could trigger a price move one way or the other. Disappointing U.S. jobs data could be enough to prompt the Fed to cut another 25 basis points next week.”
“Lower interest rates are good for gold. The US election result is likely to cause fear in 50% of the population regardless of which candidate wins. And a long and contested election result could fan the flames of fear.”
“However, I believe that the profit-taking we have seen over the past few days will ultimately be enough to allow gold to move higher, towards $2,800 an ounce,” he said. “Longer term, there is no doubt that prices will move higher. Gold is a ‘currency antidote’ to financial irresponsibility. Given the profit-taking this week, I also like the possibility of higher gold prices next week.”
Sean Lusk , co-director of commercial hedging at Walsh Trading, said that while both candidates and both parties will continue to print money and spend, he still expects different moves for gold depending on who wins.
“I think the initial reaction here is, if Harris wins, there will be more uncertainty, so I think gold will go up a little bit,” he said. “If Trump wins, then Bitcoin and crypto will go up. Will gold follow? I don’t know. On the equity side, there will be fears about tariffs and this, that, and the other thing, and that could be worrisome for the equity market. But what we’ve seen from the equity market and gold is that they’ve gone up together over the last two years, so any crash in the equity market means some gains in gold and vice versa. But eventually there could be a disconnect where they trade inversely if we have a big drop in equities.”
This week, 17 analysts participated in the Kitco News Gold Survey, and last week’s narrow bullish bias has largely narrowed. Nine experts, or 53%, expect gold prices to rise next week, while six analysts, or 35%, see the precious metal falling. The remaining two analysts, or 12% of the total, are waiting to see what the election and the Fed will bring.
Meanwhile, 139 votes were cast in Kitco’s online poll, with the majority of Main Street investors bullish, although many votes were cast before the Halloween sell-off. Eighty-five retail traders, or 61%, expect gold prices to rise next week, while another 31, or 22%, expect the yellow metal to trade lower. The remaining 23 investors, or 17% of the total, said caution is the better part of courage ahead of next week’s potential fireworks.
Adam Button , chief currency strategist at Forexlive.com, said the smart place for gold traders next week is to stay on the sidelines. “It’s not wise to bet on a close election,” he said. “There will be a lot of trading once the dust settles.”
Source: https://baoquocte.vn/gia-vang-hom-nay-3112024-gia-vang-chao-dao-giua-song-bau-cu-my-loi-khuyen-cho-nha-dau-tu-thong-minh-vang-nhan-dan-them-mot-buoc-292302.html
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