Gold prices have surged to new highs, with SJC gold bars currently trading at 84.5-86.5 million VND per tael, an increase of 800 thousand VND from yesterday.
Gold rings have also broken through the 86 million VND per tael mark this morning. SJC reported a rise of 1 million VND, selling at 84.5-86.1 million VND per tael. Similarly, DOJI followed suit, raising their prices to 85.0-86.0 million VND per tael.
Bao Tin Minh Chau and PNJ are also in the race, offering gold rings at competitive rates of 85.08-86.03 million VND and 84.8-85.8 million VND per tael, respectively.
Internationally, gold has climbed to a two-week high, reaching 2,679 USD per ounce. The precious metal witnessed a significant surge as safe-haven demand returned amidst escalating geopolitical tensions and the Russia-Ukraine conflict.
Despite analysts’ warnings of a potential prolonged consolidation phase for gold, expert Matthew Jones of Solomon Global predicts a different outcome. He forecasts that gold could reach a new record high above 2,800/oz before Christmas this year.
Jones attributes the Russia-Ukraine conflict as a pivotal factor in driving gold prices to unprecedented levels. He states, “This war has become one of the most significant geopolitical confrontations of the 21st century.”
He emphasizes gold’s role as a safe haven during periods of geopolitical turmoil, wars, and economic crises. In times of escalating conflict, investors tend to flock to gold to safeguard their wealth, thereby increasing demand and pushing prices higher.
The Golden Rush: Gold Prices Surge Past $2,700 per Ounce on November 22nd Evening
Gold has been on a consistent upward trajectory in recent sessions, as market risk appetite has shifted.
The Golden Rush: SJC Gold Bars and Rings Witness a Rapid Surge on November 22nd Evening.
The surge in global gold prices propelled SJC gold bars and 99.99% gold rings to new heights, sparking a rally that saw both assets reach unprecedented levels.
Gold Prices Rise for the Third Straight Session Despite a Stronger US Dollar
This week, the global gold price has surged by 2.5 million VND per tael, a significant rebound after a decline of over 5 million VND per tael in the previous two weeks.
Should You Buy or Sell Gold Now?
In just under a week, SJC gold bullion has dropped by over VND 6 million per tael, with gold rings also plummeting by more than VND 7 million per tael. So, should people be buying or selling gold at this point?
The Golden Opportunity: Unveiling the Daily Treasure
As of the 15th of November, the price of gold rings has unexpectedly surged, with an increase of approximately 500 to 900 thousand VND per tael.
