Gold price today November 22, 2024: World gold price has been pushed to an important resistance level of 2,650 USD/ounce. Domestic gold price maintained a series of 4 consecutive increasing sessions, closely following the developments of the world gold market. The upward trend is returning, speculators are rushing to hunt for goods?
| 1. PNJ - Updated: 11/22/2024 00:00 - Website time of supply - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 84,600 | 85,600 |
| HCMC - SJC | 83,700 | 86,200 |
| Hanoi - PNJ | 84,600 | 85,600 |
| Hanoi - SJC | 83,700 | 86,200 |
| Da Nang - PNJ | 84,600 | 85,600 |
| Da Nang - SJC | 83,700 | 86,200 |
| Western Region - PNJ | 84,600 | 85,600 |
| Western Region - SJC | 83,700 | 86,200 |
| Jewelry gold price - PNJ | 84,600 | 85,600 |
| Jewelry gold price - SJC | 83,700 | 86,200 |
| Jewelry gold price - Southeast | PNJ | 84,600 |
| Jewelry gold price - SJC | 83,700 | 86,200 |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 84,600 |
| Jewelry gold price - Jewelry gold 999.9 | 84,500 | 85,300 |
| Jewelry gold price - Jewelry gold 999 | 84,420 | 85,220 |
| Jewelry gold price - Jewelry gold 99 | 83,550 | 84,550 |
| Jewelry gold price - 916 gold (22K) | 77,740 | 78,240 |
| Jewelry gold price - 750 gold (18K) | 62,730 | 64,130 |
| Jewelry gold price - 680 gold (16.3K) | 56,750 | 58,150 |
| Jewelry gold price - 650 gold (15.6K) | 54,200 | 55,600 |
| Jewelry gold price - 610 gold (14.6K) | 50,780 | 52,180 |
| Jewelry gold price - 585 gold (14K) | 48,650 | 50,050 |
| Jewelry gold price - 416 gold (10K) | 34,240 | 35,640 |
| Jewelry gold price - 375 gold (9K) | 30,740 | 32,140 |
| Jewelry gold price - 333 gold (8K) | 26,900 | 28,300 |
Update gold price today 11/22/2024
World gold prices have managed to push up to another important resistance level - $2,650/ounce despite some selling pressure.
Gold prices resumed their upward trend for the third consecutive session, with a total gain of nearly $90/ounce since the beginning of the week. Gold speculators are gaining momentum as the market saw some light safe-haven demand, a lot of short-selling and bargain hunting in the middle of the week.
Gold's recovery after a significant sell-off last week has led a growing chorus of analysts to assert that the precious metal's rally is not over yet.
Recorded by World & Vietnam Newspaper , at 19:15 On November 21 (Hanoi time), the world gold price listed on the Kitco electronic floor was at 2,664.90 - 2,665.90 USD/ounce , an increase of 15.30 USD/ounce compared to the previous trading session.
Market participants were less nervous after Russia said it would lower the bar for using nuclear weapons against its enemies. Markets breathed a sigh of relief after Russian Foreign Minister Sergei Lavrov said Russia would “do everything possible” to avoid nuclear war. However, a stronger dollar limited gold’s gains.
The recent correction in gold has created an opportunity for investors to enter the market, said Julia Khandoshko, CEO of Mind Money. She added that the sell-off is just a natural part of the broader cycle. "The overall upward trend in gold will continue despite temporary market fluctuations. And investors should not be overly concerned, these fluctuations should not be overreacted to," said the Mind Money leader.
The recent gold sell-off began after Americans voted to return Donald Trump to the White House. Analysts noted that Trump’s “America First” policies have created new momentum for US bond yields and the US dollar, creating two significant headwinds for the precious metal.
Major overseas markets are seeing a strong dollar index. Nymex crude oil futures are up slightly and trading around $69.75 a barrel. Meanwhile, the yield on the benchmark 10-year US Treasury note is currently at 4.41%. US stock indexes fell mid-session.
Technically, December gold bulls and bears are back on the same technical playing field in the short term. However, bulls have momentum as the bearish bias on the daily bar chart has been negated. The next upside price objective for bulls is to produce a close above solid resistance at $2,700.00. The next downside price objective for bears is to push futures below solid technical support at the November low of $2,541.50.
Domestic gold prices increased sharply in both buying and selling directions.
In general, the increase in buying price ranges from 600,000 VND to 1 million VND/tael, while the selling price increases from 400,000 VND to 500,000 VND/tael. At large stores in Hanoi, many people are looking to buy gold, but most stores limit the quantity sold and the opening hours for each day, and some places announce that they are not selling.
The buying price of SJC gold bars at Saigon Jewelry Company doubled compared to the selling price, causing the difference between buying and selling to decrease to about 2.2 - 2.5 million VND, closing the session at 83.7 - 86.2 million VND/tael.
4 banks in the Big4 group (Vietcombank, BIDV, Agribank, VietinBank) only bought, did not sell, closing the trading session at 86.2 million VND/tael (buy).
The price of 9999 round smooth gold rings continues to be adjusted up to a new price threshold.
Bao Tin Minh Chau listed the price of gold rings at 84.83 - 85.78 million VND/tael; DOJI Group listed it at 84.5 - 85.5 million VND/tael; PNJ Company listed it at 84.6 - 85.6 million VND/tael; Saigon Jewelry Company listed it at 84.6 - 85.6 million VND/tael.
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| Gold price today November 22, 2024: Gold price has not ended the increasing streak, opening a bargain hunt, no reason to adjust the forecast. (Source: Kitco News) |
Summary of SJC gold bar prices and plain round gold ring prices at major domestic trading brands at the closing time of the trading session on November 21:
Saigon Jewelry Company SJC: SJC gold bars 83.7 – 86.2 million VND/tael; SJC gold ring 84.6 - 85.6 million VND/tael.
Doji Group: SJC gold bars 83.7 - 86.2 million VND/tael; 9999 round rings (Hung Thinh Vuong) 84.5 - 85.5 million VND/tael.
PNJ system: SJC gold bars 84.6 - 85.6 million VND/tael; PNJ 999.9 plain gold rings at 84.6 - 85.6 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at 84 - 86.2 million VND/tael; plain gold rings are traded at 84.83 - 85.78 million VND/tael.
Will gold prices continue to rise in the long term?
ANZ Bank believes that if the US Federal Reserve (Fed) keeps interest rates unchanged in December, gold prices will be under pressure in the short term. However, when the Fed's cycle is still monetary easing, combined with current economic and political instability and physical gold demand, gold will continue to rise in the long term.
Earlier this week, Goldman Sachs reiterated its forecast for gold prices to hit $3,000 an ounce, and they're not the only ones predicting record highs by 2025.
“The current decline in gold is a correction, not a reason to adjust the forecast,” said Julia Khandoshko, adding that it is only a matter of time before gold returns to its all-time high of $2,800 last month. She expects gold prices to reach $3,000 an ounce by 2025.
“Despite the current short-term volatility, the long-term outlook for gold remains the same. The key drivers of gold’s growth, such as geopolitical tensions, the growing role of the East and global inflation, remain unchanged and continue to push the metal higher,” Julia analyzed.
“These trends will not be changed by the outcome of the US election. Even if there is a short-term euphoria in markets like crypto, it will not change the overall trend.”
Analysts have noted that while gold has rallied significantly this year, many investors have remained on the sidelines. Western investor demand has only begun to pick up as the Fed prepares to begin its current easing cycle.
Brokers predict that President-elect Donald Trump’s import tariffs will roil global markets, stoke inflation and prevent major central banks from cutting interest rates aggressively. Gold is considered a traditional hedge against inflation, but higher interest rates will reduce the appeal of the precious metal.
Source: https://baoquocte.vn/gia-vang-hom-nay-22112024-gia-vang-chua-dut-chuoi-tang-mo-cuoc-san-hang-gia-hoi-khong-co-ly-do-de-dieu-chinh-du-bao-294560.html
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