Today's world gold price is listed on Kitco at 2,715.28 USD/ounce, up 42.55 USD/ounce, equivalent to 1.59% compared to yesterday.
The rise was driven by increased demand for safe-haven assets amid ongoing tensions between Russia and Ukraine.
Gold prices rose 6% last week, hitting a two-week high of $2,715.28 an ounce after opening at $2,567 an ounce. This was the first weekly gain for gold after three consecutive weeks of declines, pushing prices to a two-month low of $2,536 an ounce.
Gold has recovered more than half of its previous losses in just one week, according to economist Gold Bullion.
Domestic and world gold prices continue to increase today. (Illustration photo).
Gold has posted five consecutive gains, surpassing $2,700 an ounce and closing the week at nearly $2,716 an ounce. On Friday alone, gold posted a 1.8% gain, reflecting strong market momentum.
The reason for the increase in gold prices is due to the escalation of geopolitical tensions between Russia and Ukraine, the risk of conflict spreading, causing gold prices to increase sharply. Gold is often a safe haven in the context of geopolitical tensions, economic risks and low interest rate environment.
In the US, markets are closely watching Donald Trump's cabinet appointments. The Trump administration's cabinet is starting to take shape. Investors are also interested in other proposals from Trump.
Gold price movements today
+ Domestic gold price
At 6:00 a.m. on November 24, the price of gold bars at Doji was listed at VND85.6 million/tael for buying and VND86.6 million/tael for selling, an increase of VND200,000 for buying and VND100,000 for selling compared to early yesterday morning.
SJC gold price is at 85.7 - 87 million VND/tael for buying and selling. Compared to yesterday, SJC gold bar price increased by 400,000 VND for both buying and selling.
+ International gold price
The world gold price listed on Kitco was at $2,715.28/ounce, up $42.55/ounce, or 1.59% compared to yesterday. Gold futures last traded at $2,718/ounce.
Gold Price Forecast
Gold has lost 9% from its peak of $2,800 an ounce in just three weeks. The precious metal has halted the sell-off with a 5% gain, rising back above $2,700 an ounce.
Experts say the recovery is due to significant safe-haven demand as the Russia-Ukraine conflict escalates.
Solita Marcelli, chief investment officer for the Americas at UBS Financial Services, said the significant gains over the past week have confirmed gold's position as the market's preferred hedge against geopolitical tensions.
The resumption of gold’s upward momentum could pave the way for the precious metal to reach new records, with some experts predicting that gold prices could reach $3,000 an ounce next year.
Meanwhile, Allegiance Gold CEO Alex Ebkarian said that with ongoing policy changes and inflation risks from US President-elect Donald Trump's proposed trade tariffs, the outlook for gold remains strong, with the precious metal forecast to test $2,750 by mid-December.
Source: https://vtcnews.vn/gia-vang-hom-nay-24-11-trong-nuoc-va-the-gioi-tiep-tuc-tang-ar909260.html
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