According to information released by the General Statistics Office (Ministry of Planning and Investment) on the morning of December 6, in November, domestic gold prices fluctuated in the same direction as world gold prices. As of November 27, the average world gold price was at 2,696.8 USD/ounce, up 0.12% compared to October.
In early November 2024, world gold prices dropped significantly after Mr. Donald Trump won the US presidential election as investors adjusted their portfolios and waited for Mr. Trump's new economic policies.
However, this decline was short-lived, with gold prices quickly recovering in the following weeks due to factors such as geopolitical tensions and expectations of interest rate cuts from the US Federal Reserve (FED).
Domestically, the gold price index in November 2024 increased by 2.26% over the previous month; increased by 32.91% over December 2023; increased by 38.2% over the same period last year; on average in the 11 months of 2024, the gold price index increased by 28.42%.
The US dollar index in the international market reached 105.47 points, up 2.52% compared to the previous month due to expectations of the Fed's monetary policy and positive US economic data, along with escalating geopolitical tensions in some countries, increasing demand for the USD as a safe asset.
Domestically, the average US dollar price in the free market is around 25,483 VND/USD. The US dollar price index in November 2024 increased by 1.76% over the previous month; increased by 4.22% over December 2023; increased by 3.63% over the same period last year; the average for the first 11 months of 2024 increased by 4.97%.
