Gold prices skyrocketed despite all obstacles, geopolitical news "hot" market "hot", is there still an investment opportunity?

Gold price today November 25, 2024: World gold prices have just experienced the best increase in more than a year, returning to the peak of 2,700 USD/ounce, when "hot" geopolitical news continuously poured in. Domestically, both SJC gold bar and gold ring prices have had impressive growth rates. Despite all obstacles, gold is still the focus of investors' attention.

1. PNJ - Updated: November 25, 2024 14:32 - Time of website supply - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
HCMC - PNJ	84,400 ▼1100K	85,800 ▼1000K
HCMC - SJC	84,600 ▼400K	86,600 ▼400K
Hanoi - PNJ	84,400 ▼1100K	85,800 ▼1000K
Hanoi - SJC	84,600 ▼400K	86,600 ▼400K
Da Nang - PNJ	84,400 ▼1100K	85,800 ▼1000K
Da Nang - SJC	84,600 ▼400K	86,600 ▼400K
Western Region - PNJ	84,400 ▼1100K	85,800 ▼1000K
Western Region - SJC	84,600 ▼400K	86,600 ▼400K
Jewelry gold price - PNJ	84,400 ▼1100K	85,800 ▼1000K
Jewelry gold price - SJC	84,600 ▼400K	86,600 ▼400K
Jewelry gold price - Southeast	PNJ	84,400 ▼1100K
Jewelry gold price - SJC	84,600 ▼400K	86,600 ▼400K
Jewelry gold price - Jewelry gold price	PNJ 999.9 Plain Ring	84,400 ▼1100K
Jewelry gold price - Jewelry gold 999.9	84,300 ▼1100K	85,100 ▼1100K
Jewelry gold price - Jewelry gold 999	84,220 ▼1090K	85,020 ▼1090K
Jewelry gold price - Jewelry gold 99	83,350 ▼1090K	84,350 ▼1090K
Jewelry gold price - 916 gold (22K)	77,550 ▼1010K	78,050 ▼1010K
Jewelry gold price - 750 gold (18K)	62,580 ▼820K	63,980 ▼820K
Jewelry gold price - 680 gold (16.3K)	56,620 ▼750K	58,020 ▼750K
Jewelry gold price - 650 gold (15.6K)	54,070 ▼710K	55,470 ▼710K
Jewelry gold price - 610 gold (14.6K)	50,660 ▼670K	52,060 ▼670K
Jewelry gold price - 585 gold (14K)	48,530 ▼650K	49,930 ▼650K
Jewelry gold price - 416 gold (10K)	34,150 ▼460K	35,550 ▼460K
Jewelry gold price - 375 gold (9K)	30,660 ▼420K	32,060 ▼420K
Jewelry gold price - 333 gold (8K)	26,830 ▼370K	28,230 ▼370K

Update gold price today 11/25/2024

World gold prices increased for the fifth consecutive session, with a total of more than 170 USD last week.

The world gold price has surpassed 2,700 USD again, after a quick and sharp decline, after the safe haven demand of investors became dominant in all calculations of pros and cons. The price of gold in the closing session last week increased by nearly 50 USD in just one session and 150 USD in half a day.

According to The Gioi & Viet Nam Newspaper , at the end of last week's trading session, the world gold price listed on the Kitco electronic floor was at 2,715.90 - 2,716.90 USD/ounce , an increase of 47.3 USD/ounce compared to the previous trading session.

After enduring a two-week slump following former President Donald Trump’s election victory, gold prices have rebounded strongly over the past week, posting gains in every trading session and closing the week up more than $170. Not only did gold overcome last week’s losses, but the precious metal also enjoyed its best performance since October 2023.

Spot gold started the trading week at $2,563 an ounce. It has been a slow and steady rise, but marked by a surge, as a combination of gold-supporting data releases and worrying geopolitical events pushed the yellow metal above $2,700 an ounce by the end of the week. The silver lining in the rally this time around – economic data has taken a backseat to ‘hot’ geopolitical news – as missile strikes and bellicose rhetoric between the parties pushed prices higher.

Last week’s strong bearish sentiment among industry professionals has all but evaporated, while retail traders have returned to a bullish bias on gold, according to the latest Kitco News Weekly Gold Survey. Meanwhile, Main Street retail sentiment has rebounded back into bullish territory.

Domestic gold prices increased sharply throughout the week.

Following the world's price increase, the domestic gold bar market also recorded 5 trading sessions of strong price increases with a total difference of about 5 million VND/tael since the beginning of the week.

The price of SJC gold bars closed this weekend, stopping at the threshold of 85 million VND/tael for buying. On the selling side, the price of gold bars is currently listed by gold and gemstone businesses at the price of 87 million VND/tael at the weekend trading session, a total increase of 3.5 million VND/tael. Saigon Jewelry Company (SJC) closed last week (November 23) at 85 - 87 million VND/tael (buy - sell).

Under the management of the State Bank, the gold bar market has continuously increased in price this week but at a level consistent with the increase in world gold prices.

The price of plain round gold rings has now increased to nearly 87 million VND/tael.

The gold ring market also had a week of price increases throughout the week. The buying price of gold rings increased by 4.1 - 5.2 million VND/tael, the selling price of gold rings increased by 3.9 - 4.2 million VND/tael. At the end of the week, the buying price reached 84.8 - 85.6 million VND/tael, the selling price of gold rings reached 86.5 - 86.8 million VND depending on the distributor. Similar to gold bars, the difference between buying and selling prices of gold rings also decreased sharply this week.

Gold price today November 25, 2024: Gold price skyrockets again despite all obstacles, 'hot' geopolitical news 'heats up' market, is there still an investment opportunity? (source: Kitco)

Summary of SJC gold bar prices and plain round gold ring prices at major domestic trading brands at the closing time of last week's trading session (November 23):

Saigon Jewelry Company SJC: SJC gold bars 85 - 87 million VND/tael; SJC gold rings 85 - 86.5 million VND/tael.

Doji Group: SJC gold bars 85 - 87 million VND/tael; 9999 round rings (Hung Thinh Vuong) 85.6 - 86.6 million VND/tael.

PNJ system: SJC gold bars 85 - 87 million VND/tael; PNJ 999.9 plain gold rings at 85.5 - 86.8 million VND/tael.

Phu Quy Gold and Silver Group: SJC gold bars: 85.3 - 87 million VND/tael; Phu Quy 999.9 round gold rings: 85.6 - 86.8 million VND/tael.

SJC gold price at Bao Tin Minh Chau is listed at 85.3 - 87 million VND/tael; plain gold rings are traded at 85.63 - 86.58 million VND/tael.

Forecast of new record high for gold price

Gold ended a three-week correction last week with a 5% gain, rising back above $2,700 an ounce, as safe-haven demand fueled price action.

The price action was largely driven by renewed safe-haven demand following the escalation of the Russia-Ukraine military conflict. North Korea is reportedly sending up to 100,000 troops to fight alongside Russia. The US recently granted Ukraine permission to fire US-made missiles into Russian territory, adding a new dimension to the conflict. Meanwhile, geopolitical tensions remain high in the Middle East and Asia, with China seeking to assert its dominance.

Gold has therefore recovered very quickly, despite continuing to face obstacles from a stronger US dollar.

In this week's Kitco News Gold Survey, 16 experts, or 89%, of the 18 respondents, expect gold prices to rise this week, while the remaining two analysts, or 11%, expect prices to consolidate sideways.

Of the 189 respondents in Kitco’s online poll, 125 retail traders (66%) expect gold prices to rise next week, while another 36 traders (19%) expect gold prices to fall. The remaining 28 investors (15%) believe gold prices will trend sideways in the near term.

However, Ole Hansen, head of commodity strategy at Saxo Bank, noted that while gold's geopolitical safe-haven rally may not be sustainable, there is still significant bullish sentiment in the market. "Most of the selling pressure over the past three weeks has been from speculators taking profits, with little evidence of short selling in the market," Hansen said.

Naeem Aslam, chief investment officer at Zaye Capital Markets, said he would not be surprised to see some consolidation next week as gold rises alongside the dollar and equities. “It is unusual to see both risk-on and risk-off assets moving in the same direction. This is largely due to investors reacting to the increased geopolitical tensions surrounding the Russia-Ukraine conflict, while remaining optimistic that things will not spiral out of control as President-elect Donald Trump is very likely to ease those tensions.”

Lukman Otunuga, chief market analyst at FXTM, believes that gold has room to rise in the current environment. In addition to rising geopolitical tensions, gold continues to benefit from the dovish sentiment from the US Federal Reserve. The market is currently pricing in a 50/50 chance of a rate cut next month.

Gold investors have been waiting for a correction since prices topped $2,100 an ounce in March. The gold market has been on a steady rise over the past year with only a small dip. Many investors, reluctant to chase the market, have found themselves on the sidelines.

However, the US election has created the opportunity many have been waiting for to return. After Donald Trump won the election, the market saw new momentum in the US dollar and rising bond yields. Investors focused on Trump's "America First" policy, creating a significant drag on gold.

From a peak of $2,800 an ounce three weeks ago to last week’s low, gold has fallen more than 9%. However, the correction appears to be over, as gold has once again shown that it is much larger than the US market. Its role as a key global financial asset continues to grow.

At the same time, slowing global growth suggests that central banks around the world will continue to ease interest rates. Lower real yields globally improve the opportunity cost of gold, further boosting its appeal.

With gold on the rise, predictions of new record highs are gaining traction. Some analysts predict that gold prices could hit $3,000 an ounce next year. Earlier this week, Goldman Sachs reiterated its outlook for gold reaching $3,000 by the end of 2025. Despite these headwinds, gold remains the focus of investors.

Source: https://baoquocte.vn/gia-vang-hom-nay-25112024-gia-vang-lai-tang-vot-bat-chap-moi-tro-ngai-tin-dia-chinh-tri-nong-hoi-thi-truong-nong-ray-con-co-hoi-dau-tu-khong-294960.html