Gold prices today, November 27, 2024, on the world market increased slightly, while in the country, they plummeted. Experts say that precious metals can only increase strongly again if there is demand from speculators, such as hedge funds in Europe and the US.
| 1. PNJ - Updated: 11/26/2024 22:30 - Time of website supply - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 82,700 ▼1700K | 84,400 ▼1400K |
| HCMC - SJC | 82,800 ▼1800K | 85,300 ▼1300K |
| Hanoi - PNJ | 82,700 ▼1700K | 84,400 ▼1400K |
| Hanoi - SJC | 82,800 ▼1800K | 85,300 ▼1300K |
| Da Nang - PNJ | 82,700 ▼1700K | 84,400 ▼1400K |
| Da Nang - SJC | 82,800 ▼1800K | 85,300 ▼1300K |
| Western Region - PNJ | 82,700 ▼1700K | 84,400 ▼1400K |
| Western Region - SJC | 82,800 ▼1800K | 85,300 ▼1300K |
| Jewelry gold price - PNJ | 82,700 ▼1700K | 84,400 ▼1400K |
| Jewelry gold price - SJC | 82,800 ▼1800K | 85,300 ▼1300K |
| Jewelry gold price - Southeast | PNJ | 82,700 ▼1700K |
| Jewelry gold price - SJC | 82,800 ▼1800K | 85,300 ▼1300K |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 82,700 ▼1700K |
| Jewelry gold price - Jewelry gold 999.9 | 82,600 ▼1700K | 83,400 ▼1700K |
| Jewelry gold price - Jewelry gold 999 | 82,520 ▼1700K | 83,320 ▼1700K |
| Jewelry gold price - Jewelry gold 99 | 81,670 ▼1680K | 82,670 ▼1680K |
| Jewelry gold price - 916 gold (22K) | 75,990 ▼1560K | 76,490 ▼1560K |
| Jewelry gold price - 750 gold (18K) | 61,300 ▼1280K | 62,700 ▼1280K |
| Jewelry gold price - 680 gold (16.3K) | 55,460 ▼1160K | 56,860 ▼1160K |
| Jewelry gold price - 650 gold (15.6K) | 52,960 ▼1110K | 54,360 ▼1110K |
| Jewelry gold price - 610 gold (14.6K) | 49,620 ▼1040K | 51,020 ▼1040K |
| Jewelry gold price - 585 gold (14K) | 47,540 ▼990K | 48,940 ▼990K |
| Jewelry gold price - 416 gold (10K) | 33,440 ▼710K | 34,840 ▼710K |
| Jewelry gold price - 375 gold (9K) | 30,030 ▼630K | 31,430 ▼630K |
| Jewelry gold price - 333 gold (8K) | 26,270 ▼560K | 27,670 ▼560K |
Update gold price today 11/27/2024
Domestic gold prices recorded both SJC gold bars and domestic gold rings falling sharply.
Specifically, at 8:55 a.m., DOJI Gold and Gemstone Group listed the price of gold rings at VND82.3 - 84.4 million/tael, down VND700,000/tael for buying and down VND300,000/tael for selling compared to early this morning (at 8:55 a.m.). Down VND3.3 million/tael for buying and down VND2.2 million/tael for selling compared to yesterday's closing price.
Saigon Jewelry Company (SJC) announced the price of gold rings at 82.1 - 84.2 million VND/tael (buy - sell), down 600 thousand VND/tael for buying and down 500 thousand VND/tael for selling compared to early this morning. Down 2.9 million VND/tael for buying and down 2.3 million VND/tael for selling compared to yesterday's closing price.
Similar to gold rings, the price of SJC gold bars has also been sharply reduced by businesses.
Specifically, Saigon Jewelry Company (SJC) announced the price of SJC gold bars at 82.7 - 85.2 million VND/tael (buy - sell), down 100 thousand VND/tael in both buying and selling compared to early this morning. Down 1.9 million VND/tael in buying and down 1.4 million VND/tael in selling compared to yesterday's closing price.
DOJI Gold and Gemstone Group announced the selling price of SJC gold bars at 82.8 - 85.3 million VND/tael (buy - sell), keeping the listed price unchanged in both buying and selling directions compared to early this morning. A decrease of 1.8 million VND/tael in buying direction and a decrease of 1.3 million VND/tael in selling direction compared to the closing price yesterday.
World gold prices increased slightly after many sharp declines.
According to the World and Vietnam Newspaper at 6:00 p.m. on November 26, the world gold price on the Kitco exchange was at 2,630.9 - 2,631.9 USD/ounce, an increase of 6.6 USD compared to the previous trading session.
Currently, investors' risk appetite is increasing and there is strong profit-taking pressure from short-term traders. The US stock market started the trading week with a short trading week due to the Thanksgiving holiday with a more positive mood, which is not favorable for safe-haven metals.
Meanwhile, President of the US Federal Reserve (Fed) branch in Minneapolis, Mr. Neel Kashkari, said he supports the scenario of the Fed cutting interest rates again next month.
According to CME Group's FedWatch Tool, the market expects a 55.9% chance that the Fed will cut rates by 25 basis points by December 2024.
Traders will closely watch US consumer confidence data and the minutes of the Fed's November 2024 meeting, as well as the core personal consumption expenditures (PCE) price index due later this week.
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| Gold price today November 27, 2024: SJC gold price plummets, the world has an 'X factor', waiting for demand from speculators. (Source: CNBC) |
Summary of gold prices at major domestic trading brands at closing times on the afternoon of November 26:
Saigon Jewelry Company SJC: SJC gold bars 82.7 - 85.2 million VND/tael.
Doji Group: SJC gold bars 82.7 - 85.2 million VND/tael.
PNJ system: SJC gold bars 82.7 - 84.4 million VND/tael.
Phu Quy Gold and Silver Group: SJC gold bars 82.8 - 85.3 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at 82.8 - 85.3 million VND/tael.
Gold prices will increase slightly in the short term
Despite yesterday's extended sell-off, gold has held up relatively well, said senior analyst Matt Simpson at financial firm City Index.
This shows the demand for buying gold to preserve assets.
Gold prices may experience more volatility in the future as US President-elect Donald Trump announced tariffs on imports from Canada, Mexico and China, raising the risk of trade tensions.
Expert Simpson predicts: "Gold prices will increase slightly in the short term."
Meanwhile, Mr. Koichiro Kamei, President of the Market Strategy Institute, said that until the end of October, investors bought gold to hedge against risks from political instability that could arise from the race to the White House.
That risk disappeared after Mr Trump’s clear victory, causing short-term investors to stop buying. The election result also led to a rally in US stocks, thereby limiting the flow of money to gold.
Despite the recent price decline, market observers say gold will approach or surpass its historic high again next year, as demand for the precious metal remains high and could be further boosted by Mr Trump's policies.
UBS predicts spot gold prices will reach $2,900 an ounce by 2025.
According to Mr. Kamei, precious metals can only increase strongly again if there is demand from speculative investors, such as hedge funds in Europe and the US.
Gold funds in North America and Europe saw monthly inflows from May to October, but saw outflows in the first half of November following the US election, according to World Gold Council data.
In addition, Mr. William Rhind, CEO of GraniteShares, said that Mr. Trump's policies will be the "X factor" that can affect investment flows into gold investment funds. In particular, the new administration's tariff policy will have an impact, because if this policy causes inflation to increase again, it will boost gold prices.
Additionally, gold demand remains strong despite high prices in India, where the government has cut gold import duties to their lowest since June 2013.
Chinese jewelry demand has been slowing as gold prices have risen, weighed down by weak consumer sentiment and a slowing economy. Demand in mainland China fell to 102.5 tonnes in the third quarter from 154.1 tonnes a year earlier, although it recovered from 86.2 tonnes in the second quarter.
In particular, central banks have been accumulating gold to reduce their dependence on the US dollar, especially after 2022, when US sanctions against Russia over the conflict with Ukraine further highlight the risks of holding the greenback. This trend is unlikely to change much.
Source: https://baoquocte.vn/gia-vang-hom-nay-27112024-gia-vang-sjc-lao-doc-manh-the-gioi-xuat-hien-nhan-to-x-cho-luc-cau-den-tu-nha-dau-co-295193.html
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