Gold prices in Vietnam witnessed a surge, with SJC gold recording an increase of 500 thousand VND per tael for both buying and selling, reaching 83.3-85.8 million VND per tael. Gold ring prices followed suit, with SJC adjusting their rates by approximately 200 thousand VND per tael to 82.7-84.7 million VND per tael. DOJI Group and Bao Tin Minh Chau also raised their prices, reflecting the overall upward trend.
Internationally, spot gold prices stood at $2,656 per ounce, marking a $30 increase from the previous day. While gold has shown signs of recovery, it remains below the $2,700 per ounce mark and has yet to reclaim its opening price for the week. The precious metal experienced a strong 5.98% weekly gain last week, its biggest weekly increase of the year, fueled by geopolitical tensions between Russia and Ukraine. However, as James Stanley, Senior Market Strategist at Forex.com, noted, this upward momentum could face challenges towards the end of the month. With the Thanksgiving holiday in the US, the prolonged nine-month gold rally may come to an end unless significant events unfold in the coming days.
