(TBTCO) – This morning’s trading session, world and domestic gold prices continued to maintain a slight increase. Strangely, at the time of the survey, most businesses slightly increased their buying prices but simultaneously decreased their selling prices. In particular, there are brands that have reduced prices by up to 500,000 VND/tael in both buying and selling directions.
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| Source: Rong Viet Online Services Joint Stock Company VDOS – Updated at 06:34 (November 30, 2023) |
World market
Surveyed at 5:00 a.m. this morning (Vietnam time), according to Kitco, the spot gold price was at 2,044,065 USD/ounce, a difference of 4,405 USD/ounce compared to yesterday.
At the end of this morning’s trading session, gold prices still increased strongly, but gold had difficulty taking advantage of increased profits in the region to reach 2,050 USD/ounce.
The US Dollar modestly eased off its lowest level since August 11, acting as a drag on Gold prices, despite bets on interest rate cuts by the US Federal Reserve (FED). in 2024 support continues.
Converted at the current exchange rate at Vietcombank, world gold costs about 58,979 million VND/tael (excluding taxes and fees). Thus, SJC’s gold bar price is still higher than the international gold price of 13,421 million VND/tael.
Domestic market
In line with the world market, domestic gold prices on trading floors this morning (at 6:30 a.m.) were kept by businesses increasing from 100 to 230 thousand VND/tael in the selling afternoon. Particularly, the buying direction was adjusted to decrease simultaneously.
SJC gold of Mi Hong brand went against the whole market when adjusted down to 500 thousand VND/tael for both buying and selling.
Specific prices are as follows:
DOJI’s 9999 gold is listed at 72.20 – 73.70 million VND/tael (buy – sell), down 100 thousand VND/tael on the buying side and up 200 thousand VND/tael on the selling side.
SJC gold in Hanoi is at 72.4 – 73.62 million VND/tael (buy – sell), down 100 thousand VND/tael on the buying side and up 100 thousand VND/tael on the selling side.
PNJ gold is listed at 72.3 – 73.6 million VND/tael (buy – sell), down 300 thousand VND/tael on the buying side and has not adjusted the selling price.
Vietinbank Gold’s SJC gold is listed at 72.4 – 73.62 million VND/tael (buy – sell), down 100 thousand VND/tael on the buying side, up 100 thousand VND/tael on the selling side.
SJC gold price at Bao Tin Minh Chau Co., Ltd. was also traded by businesses at 72.50 – 73.68 million VND/tael (buy – sell), an increase of 230 thousand VND/tael on the selling side.
At Mi Hong Jewelry Company, SJC gold price is at 72.10 – 73.10 million VND/tael (buy – sell). This brand adjusted to reduce up to 500 thousand VND/tael in both directions.
At Bao Tin Manh Hai, JSC gold is being traded at 72.20 – 73.90 million VND/tael (buying – selling), down 200 thousand VND/tael on the buying side, up 180 thousand VND/tael on the selling side.
Forecast
Gold prices are still considered difficult to predict in the short term. The market now expects the Fed to keep its key lending rate steady within its target range of 5.25% – 5.5% in December, although officials have stressed the need for vigilance. with inflation and keep their options open.
The ceasefire agreement between Israel and Hamas was extended by two days beyond its original deadline on Tuesday morning. Hamas released about 50 hostages as part of the original agreement and is expected to release 20 more. another in the next two days in exchange for Israel releasing Palestinian prisoners. This could reduce the metal’s safe-haven appeal.
Additionally, traders are now scrutinizing the preliminary US GDP report, which is expected to show the world’s largest economy growing at an annual rate of 5% in the third quarter vs. with an estimated level of 4.9%.
