As of this afternoon’s survey, the price of gold rings at Bao Tin Minh Chau has dropped to 150 – 153 million VND per tael, approximately 400,000 VND lower than this morning’s rate.
Meanwhile, other brands have maintained their prices. PNJ and DOJI continue to list gold rings at 149.4 – 152.4 million VND per tael, while SJC records 149 – 151.5 million VND per tael. Gold bars remain unchanged from the morning session, fluctuating between 151.4 – 153.4 million VND per tael.
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Domestic gold prices continued to rise during today’s trading session. At SJC and PNJ, gold bars increased by 500,000 VND per tael, reaching 151.4 – 153.4 million VND per tael.
For gold rings, SJC adjusted upwards by 500,000 VND per tael, now listed at 148.5 – 151 million VND per tael. PNJ, however, kept their gold ring prices steady at 148.7 – 151.7 million VND per tael compared to the previous session.
In the global market, spot gold prices rebounded to $4,163 per ounce, a $33 increase from yesterday’s close.
Global gold prices over the past 24 hours.
This upward trend occurs as investors closely monitor a two-day influx of U.S. economic data, revealing a mixed economic landscape.
Newly released economic data indicates a slowdown in the U.S. economy. September retail sales fell short of expectations, while the Producer Price Index (PPI) rose 2.7% year-over-year. Nonetheless, the market temporarily set aside economic indicators, focusing instead on the dovish remarks from Federal Reserve officials, bolstering expectations of upcoming rate cuts.
Fed Governor Stephen Miran suggested that the weakening labor market gives the Fed room to lower rates further to support growth. This aligns with earlier comments by Fed Governor Christopher Waller. The series of dovish signals from Fed leaders has significantly heightened expectations for monetary policy easing. According to CME Group’s FedWatch tool, the probability of a third rate cut this year has risen to 85%.
These expectations have weakened the U.S. dollar. The USD Index fell 0.33%, dropping below the psychological 100-point mark to 99.84. Typically, a weaker USD makes gold more attractive to investors holding other currencies.
However, gold prices in the derivatives market moved contrary to USD trends. Gold futures contracts declined by $4.5 (0.11%), reaching $4,129.3 per ounce. Silver prices also dipped slightly by $0.12 (0.24%), settling at $51.07 per ounce. This movement is attributed to profit-taking after a strong rally or investor caution ahead of further critical economic data releases.
Technically, both gold and silver maintain an upward trajectory. Both precious metals trade above key moving averages like MA20 and MA50, indicating sustained bullish momentum. Current trends suggest potential movement toward historical highs, approximately 6% above current levels.
Additionally, experts caution that as market liquidity diminishes near year-end holidays, precious metal prices may experience volatile and unpredictable sessions.
Mastering the Gold Market: Beyond the ‘Tighten and Control’ Mindset
Leading economist Le Xuan Nghia warns that restrictive gold import policies force consumers to resort to illegal, substandard gold purchases. Effective market regulation requires balancing control with consumer rights, moving beyond a “tighten the grip” mentality.
Silver Prices Surge Back to 2 Million VND per Tael
Silver prices today have rebounded both domestically and internationally.
Global Gold Prices and Domestic Ring Gold Rates Continue to Drop on November 24th
Today’s trading session opened with a unanimous decline in both domestic and global gold prices, extending the downward trend observed in recent days.
Bank Auctions Multiple Foreclosed Properties
As the year draws to a close, banks are aggressively liquidating collateralized assets to recover debts ranging from tens to hundreds of billions of dong. While non-performing loan ratios have risen, they are not considered a significant cause for concern.
Gold Market Outlook Next Week: Experts Predict Price Drop, Investors Remain Optimistic
Amidst widespread predictions from analysts forecasting a decline in gold prices next week, investors remain steadfast in their optimism, anticipating a continued upward trajectory.
