LIVE UPDATE TABLE OF GOLD PRICE TODAY 11/17 and EXCHANGE RATE TODAY 11/17
| 1. PNJ - Updated: November 17, 2023 02:00 - Website supply time - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 58,800 | 59,900 |
| HCMC - SJC | 69,700 | 70,500 |
| Hanoi - PNJ | 58,800 | 59,900 |
| Hanoi - SJC | 69,700 | 70,500 |
| Da Nang - PNJ | 58,800 | 59,900 |
| Da Nang - SJC | 69,700 | 70,500 |
| Western Region - PNJ | 58,800 | 59,900 |
| Western Region - SJC | 69,900 | 70,600 |
| Jewelry gold price - PNJ rings (24K) | 58,800 | 59,850 |
| Jewelry Gold Price - 24K Jewelry | 58,700 | 59,500 |
| Jewelry Gold Price - 18K Jewelry | 43,380 | 44,780 |
| Jewelry Gold Price - 14K Jewelry | 33,560 | 34,960 |
| Jewelry Gold Price - 10K Jewelry | 23,500 | 24,900 |
Domestic gold prices continue to consolidate at a high level, although there are mixed increases and decreases in some brands, but they are temporarily firmly fixed at the threshold of 70,000 VND/ounce (selling) and are likely to continue to increase in the following sessions, following the world market trend.
At the end of November 16, Saigon Jewelry Company listed the price of SJC gold bars at 69.8 - 70.62 million VND/tael, down 100,000 VND/tael for buying, but up 200,000 VND/tael for selling.
Doji Group increased the price of SJC gold bars by VND50,000/tael for buying and VND100,000/tael for selling, trading at VND69.65 - 70.45 million/tael.
However, the price of gold rings, the price of 9999 gold is still being traded in the range of 58.8 - 59.8 million VND (buy-sell). This is the record high of gold rings ever.
World gold prices continued to increase gradually after reaching a 1-week peak, leaving the threshold of 1,950 USD far behind, after the US CPI cooled down in October. Recorded by TG&VN at 9:00 p.m. on November 16 (Vietnam time), the gold price traded on Kitco News at 1,972.2 - 1,973.2 USD/ounce, up 13 USD compared to the previous session.
The US dollar fell sharply after inflation in the US economy unexpectedly fell below forecasts - a sign of strengthening confidence that the US Federal Reserve (Fed) will complete its interest rate hikes. Accordingly, the Consumer Price Index (CPI) increased by 3.2% compared to 2022 and was unchanged from September, lower than market expectations.
US Treasury yields have also fallen sharply. The yield on the 10-year bond has fallen to just over 4.4%, down from above 5% in late October.
Gold is known as an inflation hedge and lower interest rates will increase the appeal of zero-yielding assets.
The CME Fedwatch tool, a probability indicator that measures the 100% certainty that the Fed will not raise rates at the December FOMC meeting, continued to rise from 90.4% a week ago and 69.6% a month ago.
 |
| Gold price today November 17, 2023: Gold price is rising, reinforcing the possibility of long-term increase, SJC gold goes straight to record level. (Source: Kitco News) |
Summary of SJC gold prices at major domestic trading brands at the closing time of November 16:
Saigon Jewelry Company listed the price of SJC gold at 69.80 - 70.62 million VND/tael.
Doji Group currently lists the price of SJC gold at: 69.65 - 70.45 million VND/tael.
Phu Quy Group listed at: 69.75 - 70.55 million VND/tael.
PNJ system listed at: 69.70 - 70.50 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at: 69.80 - 70.50 million VND/tael; Rong Thang Long gold brand is traded at 59.17 - 60.12 million VND/tael; jewelry gold price is traded at 58.75 - 59.95 million VND/tael.
Gold prices strengthen long-term bullish potential?
The market sentiment for long-term gold price increases remains intact.
“Gold will maintain its recent strong gains as long as prices hold above $1,930 an ounce,” said Ole Hansen, head of commodity strategy at Saxo Bank. “The prospect of lower interest rates and demand from central banks should provide enough support to withstand any short-term strength in economic data.”
The gold market also recovered thanks to weaker-than-expected jobs data as the number of people still receiving benefits continued to rise, suggesting more workers are having difficulty finding new jobs.
Gold prices are also increasing because countries continue to increase gold imports and increase reserves of this precious metal.
According to FlyingFrisby, China currently holds at least 33,000 tons of gold, many times more than the 2,215 tons given by the World Gold Council and double the 16,500 tons of the US. FlyingFrisby even predicts that the price of gold will reach $3,000/ounce next year.
Markets are also watching for moves by U.S. lawmakers to avoid a government shutdown. Late on November 14, the House of Representatives passed a budget bill that will be sent to the Senate for a vote. If lawmakers in the Senate pass the bill, it will be sent to President Joe Biden. If the bill fails to pass, the U.S. government is expected to shut down by the end of this week.
Source
Comment (0)