Gold prices today, November 21, 2024, marked the third consecutive increase thanks to a weaker USD and escalating tensions between Russia and Ukraine. Experts assessed that buying activities took place when the geopolitical situation was heating up, promoting stronger risk-off sentiment.
| 1. PNJ - Updated: 11/20/2024 23:00 - Website supply time - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 84,000 ▲400K | 85,200 ▲400K |
| HCMC - SJC | 82,700 ▲700K | 85,700 ▲700K |
| Hanoi - PNJ | 84,000 ▲400K | 85,200 ▲400K |
| Hanoi - SJC | 82,700 ▲700K | 85,700 ▲700K |
| Da Nang - PNJ | 84,000 ▲400K | 85,200 ▲400K |
| Da Nang - SJC | 82,700 ▲700K | 85,700 ▲700K |
| Western Region - PNJ | 84,000 ▲400K | 85,200 ▲400K |
| Western Region - SJC | 82,700 ▲700K | 85,700 ▲700K |
| Jewelry gold price - PNJ | 84,000 ▲400K | 85,200 ▲400K |
| Jewelry gold price - SJC | 82,700 ▲700K | 85,700 ▲700K |
| Jewelry gold price - Southeast | PNJ | 84,000 ▲400K |
| Jewelry gold price - SJC | 82,700 ▲700K | 85,700 ▲700K |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 84,000 ▲400K |
| Jewelry gold price - Jewelry gold 999.9 | 83,900 ▲400K | 84,700 ▲400K |
| Jewelry gold price - Jewelry gold 999 | 83,820 ▲400K | 84,620 ▲400K |
| Jewelry gold price - Jewelry gold 99 | 82,950 ▲390K | 83,950 ▲390K |
| Jewelry gold price - 916 gold (22K) | 77,190 ▲370K | 77,690 ▲370K |
| Jewelry gold price - 750 gold (18K) | 62,280 ▲300K | 63,680 ▲300K |
| Jewelry gold price - 680 gold (16.3K) | 56,350 ▲280K | 57,750 ▲280K |
| Jewelry gold price - 650 gold (15.6K) | 53,810 ▲260K | 55,210 ▲260K |
| Jewelry gold price - 610 gold (14.6K) | 50,420 ▲250K | 51,820 ▲250K |
| Jewelry gold price - 585 gold (14K) | 48,300 ▲230K | 49,700 ▲230K |
| Jewelry gold price - 416 gold (10K) | 33,990 ▲170K | 35,390 ▲170K |
| Jewelry gold price - 375 gold (9K) | 30,510 ▲150K | 31,910 ▲150K |
| Jewelry gold price - 333 gold (8K) | 26,700 ▲130K | 28,100 ▲130K |
Update gold price today 11/21/2024
Domestic gold prices recorded the third consecutive day of increase.
At the end of the trading session on November 20, Saigon Jewelry Company (SJC) listed the price of gold bars at 82.7 - 85.7 million VND, an increase of 700,000 VND per tael compared to the previous day.
4 banks also raised the selling price of this type of gold to 85.7 million.
Plain gold rings are also nearly a million VND more expensive per tael, around 82.7 - 84.9 million VND. Specifically, the price of SJC 9999 gold rings is traded at 82.7 million VND/tael when buying and 84.9 million VND/tael when selling, an increase of 500,000 VND/tael.
At DOJI Gold and Gemstone Group, plain rings are traded at 84.1 - 85.1 million for buying and selling.
PNJ raised the price of plain rings to 83.9 - 84.9 million VND.
Since the beginning of the week, each tael of gold ring has recovered by 3 million VND per tael, currently about 5 million lower than the record level at the end of October.
World gold prices rose to a one-week high on the afternoon of November 20, marking the third consecutive session of increase thanks to a weaker US dollar and escalating Russia-Ukraine tensions that increased demand for safe-haven assets.
Recorded by World and Vietnam Newspaper at 6:00 p.m. on November 20 at 2,628.76 USD/ounce, the highest level since November 11.
The dollar's rally has paused, making the precious metal more attractive to buyers holding other currencies.
According to observers, worrying information surrounding the Russia-Ukraine conflict is contributing to market instability, boosting investment demand for safe-haven assets such as gold. With the latest developments, the precious metal has recorded a very rapid increase in buying demand.
Goldman Sachs has just released a report that continues to forecast that gold will reach $3,000/ounce in 2025. In the medium and long term, gold is also supported by the interest rate cut cycle of the US Federal Reserve (Fed).
In another development, several Fed officials this week are expected to shed more light on the path of rate cuts.
Traders now see a 58.9% chance that the Fed will cut rates by 25 basis points in December. Recent strong economic data and US President-elect Donald Trump's proposed tariffs suggest rates will stay higher for longer.
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| Gold price today November 21, 2024: Gold price 'sparkles', investors increase buying because of the heated Russia-Ukraine conflict, USD retreats. (Source: Finance Yahoo) |
Summary of gold prices at major domestic trading brands at closing times on the afternoon of November 20:
Saigon Jewelry Company SJC: SJC gold bars 82.7 - 85.7 million VND/tael.
Doji Group: SJC gold bars 82.7 - 85.7 million VND/tael.
PNJ system: SJC gold bars 84 - 85.2 million VND/tael.
Phu Quy Gold and Silver Group: SJC gold bars 82.7 - 85.7 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at 83.2 - 85.7 million VND/tael.
Increase gold reserves, avoid risks
Kitco News senior analyst Jim Wyckoff said the buying activity comes as geopolitical tensions heat up, fueling stronger risk-off sentiment.
Accordingly, new developments in the Russia-Ukraine conflict also spurred a wave of gold purchases to preserve assets. Meanwhile, investors are still waiting for important signals about the Fed's interest rate plan.
Another supporting factor for bullion is the retreat of the US dollar after last week's sharp rise to a one-year high following Donald Trump's victory in the US presidential election.
Mark Leibovit, an expert from VR Metals/Resource Letter, said that the world gold price could fall to $2,300/ounce before recovering. However, he remained optimistic and predicted that the gold price could reach $3,700/ounce in the near future.
Meanwhile, Commerzbank analysts note that as the factors that are favorable for gold have not yet subsided, lower prices are fueling buying activity.
The bank added that geopolitical uncertainty, central bank buying and growing budget deficits in the US and other Western countries are factors that continue to support gold prices.
In addition, the decline in the US dollar after last week's strong gains also supported gold prices. A weaker US dollar makes gold cheaper for buyers holding other currencies.
Source: https://baoquocte.vn/gia-vang-hom-nay-21112024-gia-vang-lap-lanh-nha-dau-tu-tang-mua-vi-xung-dot-nga-ukraine-nong-len-usd-thoai-lui-294424.html
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