Gold price today November 24, 2024, gold price increased sharply, "Trump effect ended", fear of geopolitical tensions in the US could push the price of precious metals to an all-time high. Domestic gold price increased rapidly.
| 1. PNJ - Updated: 11/23/2024 23:00 - Website supply time - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 85,500 ▲300K | 86,800 ▲600K |
| HCMC - SJC | 85,000 | 87,000 |
| Hanoi - PNJ | 85,500 ▲300K | 86,800 ▲600K |
| Hanoi - SJC | 85,000 | 87,000 |
| Da Nang - PNJ | 85,500 ▲300K | 86,800 ▲600K |
| Da Nang - SJC | 85,000 | 87,000 |
| Western Region - PNJ | 85,500 ▲300K | 86,800 ▲600K |
| Western Region - SJC | 85,000 | 87,000 |
| Jewelry gold price - PNJ | 85,500 ▲300K | 86,800 ▲600K |
| Jewelry gold price - SJC | 85,000 | 87,000 |
| Jewelry gold price - Southeast | PNJ | 85,500 ▲300K |
| Jewelry gold price - SJC | 85,000 | 87,000 |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 85,500 ▲300K |
| Jewelry gold price - Jewelry gold 999.9 | 85,400 ▲300K | 86,200 ▲300K |
| Jewelry gold price - Jewelry gold 999 | 85,310 ▲300K | 86,110 ▲300K |
| Jewelry gold price - Jewelry gold 99 | 84,440 ▲300K | 85,440 ▲300K |
| Jewelry gold price - 916 gold (22K) | 78,560 ▲280K | 79,060 ▲280K |
| Jewelry gold price - 750 gold (18K) | 63,400 ▲220K | 64,800 ▲220K |
| Jewelry gold price - 680 gold (16.3K) | 57,370 ▲210K | 58,770 ▲210K |
| Jewelry gold price - 650 gold (15.6K) | 54,780 ▲190K | 56,180 ▲190K |
| Jewelry gold price - 610 gold (14.6K) | 51,330 ▲180K | 52,730 ▲180K |
| Jewelry gold price - 585 gold (14K) | 49,180 ▲180K | 50,580 ▲180K |
| Jewelry gold price - 416 gold (10K) | 34,610 ▲130K | 36,010 ▲130K |
| Jewelry gold price - 375 gold (9K) | 31,080 ▲120K | 32,480 ▲120K |
| Jewelry gold price - 333 gold (8K) | 27,200 ▲100K | 28,600 ▲100K |
Update gold price today 11/24/2024
Domestic gold prices increased sharply last week.
In the first trading session of the week, November 18, the price of gold bars and rings increased sharply.
Specifically, Saigon Jewelry Company (SJC), DOJI Jewelry Group announced the price of SJC gold bars at 81 - 84 million VND/tael (buy - sell), an increase of 1 million VND/tael for buying and an increase of 500 thousand VND/tael for selling compared to the closing price of last weekend (November 16).
Similarly, the price of gold rings also increased sharply. At Saigon Jewelry Company SJC, the price of gold rings was announced at 80.5 - 83 million VND/tael (buy - sell), an increase of 700 thousand VND/tael in both buying and selling compared to the closing price of last weekend.
After 3 consecutive mid-week increases, on November 22, domestic gold prices continued to increase.
Specifically, Saigon Jewelry Company (SJC), DOJI Jewelry Group announced the price of SJC gold bars at 84.5 - 86.5 million VND/tael (buy - sell), an increase of 800 thousand VND/tael for buying and an increase of 300 thousand VND/tael for selling compared to the previous session's closing price.
Similarly, the price of gold rings also increased simultaneously. DOJI Gold and Gemstone Group listed the price of gold rings at 85 - 86 million VND/tael (buy - sell), an increase of 400 thousand VND/tael in both buying and selling compared to the closing price yesterday.
By the end of the week on November 23, the domestic ring gold price increased to nearly 87 million VND/tael. Specifically, at DOJI Gold and Gemstone Group, the ring gold price was listed at 85.6 - 86.6 million VND/tael (buy - sell), an increase of 600 thousand VND/tael in both buying and selling compared to the closing price yesterday.
Meanwhile, the price of gold bars remained stable. Saigon Jewelry Company (SJC) announced the price of SJC gold bars at 85 - 87 million VND/tael (buy - sell), keeping the listed price in both buying and selling directions unchanged compared to the previous session's closing price.
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| Gold price today November 24, 2024: Gold price increased dramatically, 'weighing' all trading sessions, approaching a historical high, gold ring price stood still. (Source: Kitco News) |
Summary of SJC gold bar and gold ring prices at major domestic trading brands at the closing time of 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.
According to the World and Vietnam Newspaper , at 2:40 p.m. on November 23 (Vietnam time), the world gold price at goldprice.org was at 2,715.28 USD/ounce, up 42.54 USD/ounce compared to the previous trading session, or up 5.4% weekly.
Converted according to USD price at Vietcombank on November 23, 1 USD = 25,509 VND, world gold price is equivalent to 83.45 million VND/tael.
After falling for two weeks following Donald Trump's victory in the 2024 US election, world gold prices recovered strongly this week, recording increases in every trading session and increasing by nearly 150 USD/ounce at the end of the week on November 22.
The latest Kitco News weekly gold survey shows that last week’s bearish sentiment among professionals has completely disappeared, while retail traders have returned to “optimistic pastures.”
“I see gold and silver moving higher next week,” said Rich Checkan , president and CEO of Asset Strategies International. “The uptrend is following the post-election sell-off, the escalation of tensions between Russia and Ukraine, and the bargain-hunting after the dip.”
“Bullish,” said Darin Newsom , senior market analyst at Barchart.com. “Given the abruptness of the market’s short-term uptrend, a sell-off could occur at any time. The likelihood of that is heightened by the U.S. holiday next week, followed by the end of the month.”
“That said, I think the continued dominance of technicals by chaos and Russian President Vladimir Putin’s refusal to back down from his nuclear threat will keep investors buying gold, at least until the end of 2024.”
“Gold has had a week of daily gains,” said Marc Chandler , managing director at Bannockburn Global Forex. “The weekly gain of around 5% has offset last week’s losses and broken a three-week losing streak. The close above $2,700 an ounce signals a return to the record high set in late October, near $2,790 an ounce.”
Geopolitics seems to be just as important — if not more so — than financial developments, Chandler said. “The dollar remains strong and U.S. interest rates are stable. The price action seems particularly bullish to me, and a move to $3,000 an ounce next year seems plausible.”
“Bullish,” said James Stanley , senior market strategist at Forex.com. “I’ve been bullish for some time and don’t see any reason to change that at this point. The bulls have been making a statement this week and so far this has been the strongest weekly gold rally in a year.”
Daniel Pavilonis , senior commodities broker at RJO Futures, attributed gold's strong performance this week to Russia-Ukraine geopolitical tensions.
Eighteen analysts participated in the Kitco News Gold Survey this week, and no one on Wall Street is betting against gold in the near term. Sixteen, or 89%, expect gold prices to rise next week, while two analysts, or 11%, see consolidation in the precious metal.
Meanwhile, 189 votes were cast in Kitco's online poll, with Main Street sentiment returning to bullish territory along with the price action. 125 retail traders, or 66%, expect gold prices to rise next week, while another 36 traders, or 19%, expect the yellow metal to trade lower. The remaining 28 investors, or 15% of the total, expect gold prices to trend sideways in the near term.
“I’m bullish on gold next week,” said Colin Cieszynski , chief market strategist at SIA Wealth Management. “This week has shown that just because Trump won the election, it doesn’t mean it’s all roses and rainbows or that he’s always going to get his way. There are serious geopolitical and other risks out there, and gold seems to be continuing its upward trend after a correction.”
And Kitco senior analyst Jim Wyckoff expects gold prices to rise further next week. “Prices are moving higher amid stronger risk-off sentiment and more bullish technicals,” he said.
“Gold has recovered very quickly despite continuing headwinds from a stronger US dollar. The relative performance of gold versus silver highlights why this rally is a safe-haven rally, leading to renewed buying from investors who have been waiting for a pullback,” said Ole Hansen, head of commodity strategy at Saxo Bank. “Unless we see more action in Eastern Europe, the upside from here could be limited until we get clarity on what Trump and the Fed will do.”
However, Hansen also noted that while gold’s geopolitical safe-haven rally may not be sustainable, there is still significant bullish sentiment in the market. He noted that most of the selling pressure over the past three weeks has come from speculators taking profits.
There is little evidence of active short selling in the market, he added.
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 US dollar and equities.
Lukman Otunuga , Chief Market Analyst at FXTM, believes that gold has room to move higher in the current environment. In addition to escalating geopolitical tensions, gold continues to benefit from the dovish sentiment from the Fed. The market currently puts the odds of a rate cut next month at around 50/50.
While gold has seen solid gains against the greenback, some analysts say its real potential is seen in its performance against the euro. Gold is ending the week above 2,600 euros an ounce, marking a 7% gain.
Jesse Colombo , an independent precious metals analyst and founder of BubbleBubble Report, noted that gold is still on track to hit new record highs against the USD and other major global currencies when compared to the performance of the Euro.
Source: https://baoquocte.vn/gia-vang-hom-nay-24112024-gia-vang-tang-ngoan-muc-can-moi-phien-giao-dich-sap-toi-moc-cao-lich-su-gia-vang-nhan-dung-dung-294847.html
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