LIVE UPDATE TABLE OF GOLD PRICE TODAY 11/24 and EXCHANGE RATE TODAY 11/24
| 1. PNJ - Updated: November 23, 2023 21:30 - Website supply time - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 59,750 ▲50K | 60,950 ▲150K |
| HCMC - SJC | 70,800 ▼400K | 71,700 ▼400K |
| Hanoi - PNJ | 59,750 ▲50K | 60,950 ▲150K |
| Hanoi - SJC | 70,800 ▼400K | 71,700 ▼400K |
| Da Nang - PNJ | 59,750 ▲50K | 60,950 ▲150K |
| Da Nang - SJC | 70,800 ▼400K | 71,700 ▼400K |
| Western Region - PNJ | 59,750 ▲50K | 60,950 ▲150K |
| Western Region - SJC | 70,800 ▼100K | 71,600 ▼200K |
| Jewelry gold price - PNJ rings (24K) | 59,750 ▲50K | 60,900 ▲150K |
| Jewelry Gold Price - 24K Jewelry | 59,700 ▲100K | 60,500 ▲100K |
| Jewelry Gold Price - 18K Jewelry | 44,130 ▲80K | 45,530 ▲80K |
| Jewelry Gold Price - 14K Jewelry | 34,140 ▲60K | 35,540 ▲60K |
| Jewelry Gold Price - 10K Jewelry | 23,920 ▲40K | 25,320 ▲40K |
Domestic gold prices turned down early on November 23, after a sharp increase on November 22 for both SJC gold bars and gold rings. Precious metal traders have continuously adjusted prices upward, creating a new price level, causing SJC gold bars to increase by nearly a million VND/tael in a day, exceeding VND72 million. The price of gold rings has also set a new record of over VND61 million.
Thus, compared to the beginning of the year, each tael of gold bar increased by 5 million VND, equivalent to an increase of more than 7% and is the highest level in the past year and a half.
The price of gold rings and 9999 gold also set a new high. Compared to the beginning of the year, each tael of plain gold rings has increased by more than 7 million VND, equivalent to an increase of 13%.
By the end of the 23rd, after inconsistent fluctuations, Saigon Jewelry Company listed the price of SJC gold at 70.8 - 71.62 million VND/tael (buy - sell). Bao Tin Minh Chau system listed it at 70.95 - 71.68 million VND/tael, corresponding to an increase of 90,000 and 50,000 VND/tael (buy - sell).
The price of gold rings at Saigon Jewelry Company is listed at 59.85 - 60.95 million VND per tael. Meanwhile, the price of 9999 gold of DOJI Group is traded at 60.40 - 61.25 million VND per tael.
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| Gold prices today, November 24, increased thanks to the weakening USD, but the precious metal lacked the momentum to increase. (Source: Finance Yahoo) |
Gold prices rose on the back of a weaker US dollar, but the precious metal lacked the momentum to move higher as investors stayed away from the market due to a holiday in the US and uncertainty surrounding the Fed’s interest rate path. Gold prices hit a three-week high of $2,007.29 an ounce.
According to TG&VN at 9:20 p.m. on November 23 (Vietnam time) , the gold price on Kitco was at 1,992.30 USD/ounce, up 3 USD compared to the previous trading session.
Converted according to the USD exchange rate at Vietcombank (excluding taxes and fees), the world gold price is currently equivalent to 58.6 million VND per tael. The price of gold rings is 2-2.5 million VND per tael higher than the world price: the price of SJC gold bars is nearly 12.9 million VND higher.
Update on domestic gold prices at major trading brands at the close of trading on November 23:
Saigon Jewelry Company listed the price of SJC gold at 70.80 - 71.62 million VND/tael. The price of gold rings is listed at 59.85 - 60.95 million VND/tael.
Doji Group currently lists the price of SJC gold at: 70.90 - 71.70 million VND/tael.
Phu Quy Group listed at: 70.85 - 71.65 million VND/tael.
PNJ system listed at: 70.80 - 71.70 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at: 70.95 - 71.68 million VND/tael; Rong Thang Long gold brand is traded at 60.58 - 61.58 million VND/tael; jewelry gold price is traded at 60.15 - 61.35 million VND/tael.
Why is it difficult for gold prices to stay above $2,000?
Gold prices rose as the dollar weakened as investors bet on the Fed’s interest rate path. Supporting gold, the dollar fell 0.3% against its rivals. Meanwhile, the yield on the 10-year US Treasury note closed at a two-month low.
“Without any new developments, I still don’t think gold has the momentum to stay above $2,000 for the rest of the year,” said StoneX analyst Rhona O’Connell .
However, "fundamental drivers remain supportive for the precious metals market long term, geopolitical uncertainty, particularly in the Middle East and the possibility of further banking crises in the US and elsewhere, but if either or both of these factors fail to escalate, prices could slide," O'Connell predicted.
Trading is expected to be thin with most US markets closed for the Thanksgiving holiday.
“The dollar is cooling a bit after yesterday’s (economic) data,” said Ricardo Evangelista, senior analyst at ActivTrades . “Investors have reduced expectations for a rate cut in 2024 after recent U.S. economic data showed the number of Americans filing new claims for unemployment benefits fell more than expected last week.
“The uncertainty around what the Fed will do next is going to persist for a little while longer,” said Evangelista.
Fed officials agreed at their most recent policy meeting that they would proceed "carefully" and only raise interest rates if progress toward controlling inflation slowed.
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