| 1. PNJ – Updated: 11/28/2024 21:16 – Time of the source website – ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC – PNJ | 83,400 ▼100K | 84,500 |
| HCMC – SJC | 82,900 ▼100K | 85,400 ▼100K |
| Hanoi – PNJ | 83,400 ▼100K | 84,500 |
| Hanoi – SJC | 82,900 ▼100K | 85,400 ▼100K |
| Da Nang – PNJ | 83,400 ▼100K | 84,500 |
| Da Nang – SJC | 82,900 ▼100K | 85,400 ▼100K |
| Western Region – PNJ | 83,400 ▼100K | 84,500 |
| Western Region – SJC | 82,900 ▼100K | 85,400 ▼100K |
| Jewelry gold price – PNJ | 83,400 ▼100K | 84,500 |
| Jewelry gold price – SJC | 82,900 ▼100K | 85,400 ▼100K |
| Gold jewelry price – Southeast | PNJ | 83,400 ▼100K |
| Jewelry gold price – SJC | 82,900 ▼100K | 85,400 ▼100K |
| Jewelry gold price – Jewelry gold price | PNJ 999.9 Plain Ring | 83,400 ▼100K |
| Jewelry gold price – Jewelry gold 999.9 | 83,300 ▼100K | 84,100 ▼100K |
| Jewelry gold price – 999 jewelry gold | 83,220 ▼100K | 84,020 ▼100K |
| Jewelry gold price – 99 jewelry gold | 82,360 ▼100K | 83,360 ▼100K |
| Jewelry gold price – 916 gold (22K) | 76,640 ▼90K | 77,140 ▼90K |
| Jewelry Gold Price – 750 Gold (18K) | 61,830 ▼70K | 63,230 ▼70K |
| Jewelry gold price – 680 gold (16.3K) | 55,940 ▼70K | 57,340 ▼70K |
| Jewelry Gold Price – 650 Gold (15.6K) | 53,420 ▼60K | 54,820 ▼60K |
| Jewelry Gold Price – 610 Gold (14.6K) | 50,050 ▼60K | 51,450 ▼60K |
| Jewelry Gold Price – 585 Gold (14K) | 47,950 ▼60K | 49,350 ▼60K |
| Jewelry gold price – 416 gold (10K) | 33,740 ▼40K | 35,140 ▼40K |
| Jewelry Gold Price – 375 Gold (9K) | 30,290 ▼40K | 31,690 ▼40K |
| Jewelry Gold Price – 333 Gold (8K) | 26,500 ▼40K | 27,900 ▼40K |
Update gold price today 11/29/2024
World gold prices often fluctuate, increasing and decreasing according to the USD, but rarely change.
After recovering strongly last week, the world gold price has turned down again due to the expectation that the US Federal Reserve (Fed) will cut interest rates in December. However, the gold price on the evening of November 28 surprised everyone when it "turned around" and increased by nearly 20 USD compared to the morning to 2,646 USD/ounce.
According to the World & Vietnam Newspaper , at 9:00 p.m. on November 28 (Hanoi time), the world gold price listed on the Kitco electronic floor was at 2,646.20 - 2,647.20 USD/ounce , up 10.6 USD/ounce compared to the previous trading session.
The world gold price has been fluctuating strongly in recent days. The gold price has recovered when the USD index in the international market cooled down and the US government bond yield also decreased. The USD index is currently trading around 106.2 points, down sharply from the peak of nearly 3 years at 107.5 points.
According to analysts, the US market is entering the Thanksgiving holiday, so trading demand and purchasing power are weak. Although recovering, compared to the historical peak of 2,790 USD/ounce, the gold price is still far behind. The precious metals market is closely monitoring the Fed's moves, especially the possibility of interest rate cuts next year.
Analysts noted that the decline in spot gold prices earlier this week erased the gains of the last trading day of last week. The decline came amid profit-taking after a five-day winning streak and President-elect Donald Trump’s pick of billionaire Scott Bessent as Treasury Secretary.
Billionaire Bessent is considered a “fiscal hawk,” so his choice could ease concerns about the federal deficit and the implementation of the new president’s plans, analysts said. In addition, expectations for a December rate cut continue to decline, with the CME Fedwatch tool showing money markets pricing in just a 56% chance of a December rate cut, down from 62% last week.
UBS analysts believe that gold prices will continue to fluctuate amid competing signals about inflation, interest rates, geopolitics and upcoming US trade policy.
Domestic gold prices fluctuated strongly after a stormy week.
Over the past month, the price of SJC gold and gold rings in the country have both dropped sharply by 4-5 million VND/tael. Excluding the high difference between buying and selling prices, gold buyers have suffered a double loss of 6-7 million VND/tael. Currently, most stores have stopped selling SJC gold bars. Buying plain round gold rings at this time is also quite difficult. Many stores still have a rule of selling only a limited quantity each day and do not announce the opening time in advance.
The price of SJC gold bars closed on November 28 in a tug-of-war state, without much change compared to the previous trading session. Saigon Jewelry Company SJC and some large trading enterprises currently listed the price of SJC gold at 82.9 - 85.4 million VND/tael (buy - sell).
The difference between buying and selling prices is very high, around 2 million VND/tael. This price difference is a factor that investors need to consider when participating in the gold market. It directly affects the ability to make a profit, especially in the short term.
The price of plain round gold rings decreased by about 200,000 - 500,000 VND/tael in both buying and selling directions, depending on the business.
At the end of the session on November 28, the price of 9999 round smooth gold rings at DOJI Group was at 83.5 - 84.7 million VND/tael. Bao Tin Minh Chau listed the price of gold rings at 83.38 - 84.73 million VND/tael.
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| Gold price today November 29, 2024: World gold price surprised, 'turned around' to increase sharply at the last minute, does the market still have room to increase prices? (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 82.9 - 85.4 million VND/tael; SJC gold rings 85 - 86.5 million VND/tael.
Doji Group: SJC gold bars 82.9 - 85.4 million VND/tael; 9999 round rings (Hung Thinh Vuong) 83.5 - 84.7 million VND/tael.
PNJ system: SJC gold bars 82.9 - 85.4 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: 82.9 - 85.4 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 82.9 - 85.4 million VND/tael; plain gold rings are traded at 83.38 - 84.73 million VND/tael.
Gold prices still have strong momentum?
Gold price volatility will continue and prices will reach $2,900/ounce by 2025 due to geopolitical and financial concerns, UBS commodity analysts said.
“We see room for gold prices to rise, with a target of $2,900/oz by end-2025,” UBS analysts said, adding that gold remains a useful hedge against geopolitical tensions and financial concerns.
Joni Teves, precious metals strategist at UBS, said in late October that gold still had strong support and even with prices nearing $2,800 an ounce at the time, investor allocations to gold remained relatively low.
“We remain bullish on gold. We think the outlook is quite positive going into next year. The Fed’s easing will continue to be supportive of gold and the fundamentals continue to be positive. We expect central bank buying to continue and we think physical demand for gold will remain even as prices continue to rise,” said strategist Joni Teves.
UBS analysts also believe that investors still have plenty of room to build gold positions. “Overall, the market is still underinvested in gold and therefore there is room to allocate more,” Teves added.
Spot gold turned positive in today's session and is trading around $2,628.84 an ounce, up 0.12% on the day and even after the post-US presidential election slide, the yellow metal is still up 27.4% by 2024.
Gold took a big dive late last week and early this week after news broke that Israel and Hezbollah had agreed to a 60-day ceasefire. Tensions in the Middle East were expected to ease, which sent gold plunging. However, geopolitical tensions are only one factor that affects gold. Moreover, the ceasefire is only temporary. The Middle East is only one of the hot spots. Meanwhile, inflation is also an important factor affecting precious metals.
The world is now witnessing the end of the monetary tightening cycle. Many countries, including the US, have begun to enter a cycle of lowering interest rates.
Trump announced a 25% tariff on all goods from Mexico and Canada, as well as an additional 10% tariff on products from China. The announcement signaled that Trump 2.0 had begun. Trade wars could erupt, driving up commodity prices and causing inflation to rise rapidly. High inflation is a good environment for gold.
Most experts predict that gold will continue to rise. However, this commodity is likely to continue to fluctuate strongly as the world becomes more complex. Mr. Trump’s policies and policy statements will likely continue to impact markets, causing commodity prices to fluctuate sharply.
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