World gold prices skyrocketed on Black Friday

World gold price increased by 22.5 USD/ounce, to 2,660 USD/ounce this afternoon, November 29.

Gold prices increased sharply on Black Friday super sale day - Photo: NGOC PHUONG

Many factors support gold price increase

Converted according to the exchange rate listed at the bank, the world gold price is equivalent to 81.66 million VND/tael.

Earlier this week, the world gold price fell sharply. However, the gold price later regained momentum as the market predicted that the US Federal Reserve (Fed) would cut interest rates by 0.25% at its December policy meeting.

According to data from the CME exchange's FedWatch Tool, the market is betting on a 70% chance of the Fed cutting interest rates by this level, up from earlier this week.

In addition, gold prices are also supported by global geopolitical risks that continue to escalate due to the Russia-Ukraine war.

Despite a ceasefire agreement between Israel and Hezbollah, Israeli retaliation has increased tensions.

In addition, President-elect Donald Trump's tariff announcements targeting Canada, Mexico and China are also raising concerns.

SJC gold bar price is 4.14 million VND/tael higher than world gold price

Domestically, the selling price of SJC gold bars today increased by 300,000 VND/tael, to 85.8 million VND/tael, buying at 83.3 million VND/tael.

The selling price of 9999 gold rings is 84.7 million VND/tael, an increase of 100,000 VND/tael. The buying price is 82.8 million VND/tael.

The difference between buying and selling prices of gold increased to 2.5 million VND/tael for gold bars and 1.9 million VND/tael for gold rings.

At Bao Tin Minh Chau Company, the selling price of gold rings today is 84.78 million VND/tael, buying price is 83.68 million VND/tael.

At DOJI Company, the selling price of 9999 gold rings is 84.8 million VND/tael, and the buying price is 83.8 million VND/tael.

Compared to the converted world gold price, the price of SJC gold bars is 4.14 million VND/tael higher, while the price of gold rings is 3.04 million VND/tael higher.

Please read the updated domestic gold price developments HERE.

Source: https://tuoitre.vn/gia-vang-the-gioi-tang-vot-trong-ngay-black-friday-20241129161920523.htm