LIVE UPDATE TABLE OF GOLD PRICE TODAY 11/27 and EXCHANGE RATE TODAY 11/27
| 1. PNJ - Updated: November 26, 2023 21:30 - Website supply time - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 60,200 | 61,400 |
| HCMC - SJC | 71,200 | 72,100 |
| Hanoi - PNJ | 60,200 | 61,400 |
| Hanoi - SJC | 71,200 | 72,100 |
| Da Nang - PNJ | 60,200 | 61,400 |
| Da Nang - SJC | 71,200 | 72,100 |
| Western Region - PNJ | 60,200 | 61,400 |
| Western Region - SJC | 71,300 ▼250K | 72,300 ▲50K |
| Jewelry gold price - PNJ rings (24K) | 60,200 | 61,350 |
| Jewelry Gold Price - 24K Jewelry | 60,100 | 60,900 |
| Jewelry Gold Price - 18K Jewelry | 44,430 | 45,830 |
| Jewelry Gold Price - 14K Jewelry | 34,380 | 35,780 |
| Jewelry Gold Price - 10K Jewelry | 24,080 | 25,480 |
Domestic gold prices remained at a very high level, above 72 million VND/tael in the last sessions of the week, with stable transactions.
The price of gold rings increased sharply every hour, reaching a new peak, increasing by nearly 2 million VND/tael in one week.
In general, since the beginning of last week, the price of SJC gold increased by 1.35 million VND/tael for buying and 1.55 million VND/tael for selling. Meanwhile, the price of 9999 gold, the Rong Thang Long brand of Bao Tin Minh Chau, increased by 1.65 million VND/tael for buying and increased by 1.7 million VND/tael for selling.
Summary of SJC gold bar prices at major domestic trading brands at the closing time of last weekend (November 25):
Saigon Jewelry Company listed the price of SJC gold at 71.30 - 72.30 million VND/tael.
Doji Group currently lists the price of SJC gold at: 71.20 - 72.30 million VND/tael.
PNJ system listed at: 71.2 - 72.1 million VND/tael.
Phu Quy Gold System listed at: 71.4 - 72.25 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at: 71.4 - 72.25 million VND/tael; Rong Thang Long gold brand is traded at 61.02 - 62.02 million VND/tael; jewelry gold price is traded at 60.55 - 61.75 million VND/tael.
According to TG&VN, the world gold price closed the trading week (November 24) on Kitco at 2,003.7 USD/ounce, up 10.6 USD in the final session.
Converted according to the USD exchange rate at Vietcombank on November 25, 1 USD = 24,420 VND, the world gold price is equivalent to 58.95 million VND/tael, 13.35 million VND/tael lower than the selling price of SJC gold.
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| Gold price today November 27, 2023: Gold price is full of optimism, domestic gold increases hourly; is the market forecast to improve this week? (Source: Shutterstock) |
The world gold price ended the week above the threshold of 2,000 USD/ounce. For the whole week, the spot gold price increased by 18.3 USD/ounce, equivalent to an increase of 0.92%. This is the second consecutive week of price increase, due to the weakening of the USD when investors bet that the US Federal Reserve (Fed) has completed its interest rate hike.
This week, of the 13 Wall Street analysts participating in the Kitco News Gold Survey: 7 experts (54%) predict gold prices will be higher next week, 2 analysts (15%) predict gold prices will fall, and 4 experts (31%) are neutral. Of the 672 votes cast in Kitco's online poll: 431 retail investors (64%) expect gold to rise next week, another 156 (23%) predict lower gold prices, and the remaining 85 (13%) remain neutral. |
The latest Kitco News weekly gold survey shows that retail investors are more bullish than ever this week, while a majority of market analysts support the bullish view.
A few Wall Street analysts remain neutral on the short-term outlook for the precious metal. Some experts say that although gold prices have fallen, they are still on an upward trend. This is because US inflation remains very high, along with the geopolitical situation in the world remaining tense.
According to the CME FedWatch Tool, the market currently predicts the Fed will keep interest rates unchanged at next week's meeting. Meanwhile, the possibility of a rate cut from the middle of next year is 64%.
Will gold prices continue to rise this week?
Gold has broken above $2,000 an ounce several times this week and hovered around that level as investors returned to the metals market after Thanksgiving.
Sean Lusk, director of hedge funds at Walsh Trading, sees the market as overly optimistic about the Fed cutting interest rates, but he still expects the precious metal to continue rising. "There will be a wave of safe-haven buying. I think gold is gaining momentum. There is a lot of uncertainty at the moment. That's why the price is going up," he explained. From a technical perspective, Lusk sees resistance around $2,060. "If we can hold above the 200-day moving average, which is $1,920, we'll be in the $2,075-$2,160 range."
Mark Leibovit, editor-in-chief of VR Metals/Resource Letter, predicts that prices could continue to rise next week as the dollar weakens. He also believes that the precious metal could even hit new highs in 2024.
Meanwhile, forecasting in the opposite direction, Frank McGhee, head of precious metals trading at Alliance Financial , said he believes gold is overbought and the market is mispricing some important factors.
Speaking about the gold price's rise above $2,000 an ounce on the last day of last week, the expert said: "Overall, I tend to think that you will see gold continue to weaken. I really don't expect this rally to last, you saw a $40 or $50 drop before this last bounce came in, as geopolitical tensions started to ease and I think that will happen in the next few weeks."
Still maintaining the neutral view of last week, that the market is currently difficult to fluctuate, expert Adrian Day - Chairman of Adrian Day Asset Management said: "I still think we should be cautious when the price of gold exceeds 2,000 USD. And we still have one more meeting of the Fed this year".
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