Update SJC gold price
As of 5:30 p.m., DOJI Group listed the price of SJC gold bars at VND81.9-85.4 million/tael (buy - sell).
Compared to the previous trading session, the gold price at DOJI decreased by VND100,000/tael for buying and VND400,000/tael for selling. The difference between the buying and selling prices of SJC gold at DOJI Group is at VND3.5 million/tael.
Meanwhile, Saigon Jewelry Company listed the price of SJC gold at 81.9-85.4 million VND/tael (buy - sell).
Compared to the previous trading session, the gold price at Saigon Jewelry Company SJC decreased by VND100,000/tael for buying and VND400,000/tael for selling. The difference between the buying and selling price of SJC gold at Saigon Jewelry Company SJC is at VND3.5 million/tael.
Bao Tin Minh Chau listed SJC gold price at 82.1-85.4 million VND/tael (buy - sell).
Compared to the previous trading session, the gold price at Bao Tin Minh Chau decreased by VND200,000/tael for buying and VND400,000/tael for selling. The difference between the buying and selling prices of SJC gold at Bao Tin Minh Chau is at VND3.3 million/tael.
Currently, the difference between the buying and selling price of gold is listed at around 3.5 million VND/tael. Experts say that this difference is very high, causing investors to face the risk of losing money when investing in the short term.
9999 round gold ring price
As of 5:30 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 83.15-84.95 million VND/tael (buy - sell), down 200,000 VND/tael for both buying and selling compared to the close of the previous trading session.
Bao Tin Minh Chau listed the price of gold rings at 83.08-84.93 million VND/tael (buy - sell); down 240,000 VND/tael for buying and down 190,000 VND/tael for selling.
Although the price decline continued, recorded on November 11 in Hanoi, many people continued to queue for hours to get gold purchase vouchers.
However, the store only sells a small amount of gold rings each day and does not announce the opening time in advance, causing many people in need to go everywhere to buy or wait early when the store has not opened yet.
World gold price
As of 5:40 p.m., the world gold price listed on Kitco was at $2,669/ounce, down $15.4/ounce compared to the close of the previous trading session.
Gold Price Forecast
World gold prices fell sharply as the USD index increased. Recorded at 5:40 p.m. on November 11, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 105.235 points (up 0.33%).
The latest weekly Kitco News gold survey shows that industry professionals are overwhelmingly bearish, while retail traders are also down for the first time in months.
Fourteen analysts took part in the Kitco News gold survey. Only three analysts see gold prices rising next week. Nine see prices falling. The remaining two see prices moving sideways.
There were 249 votes cast in Kitco’s online poll. 114 traders see gold prices rising next week. Another 91 see gold prices falling. The remaining 44 investors expect gold to trend sideways in the near term. This is the first time in months that short-term bullish expectations for gold have fallen this far.
“While the market will see renewed interest in long-term hedging from investors, December gold futures have not yet ended their short-term downtrend, which opens the door for fresh selling early this week,” said Darin Newsom, senior market analyst at Barchart.com.
Agreeing, David Morrison, senior market analyst at Trade Nation, said the technical picture suggests gold prices will continue to fall.
The economic calendar for the week ahead is fairly bleak, especially compared to last week’s boom. The key economic news event to watch will be the US core CPI on Wednesday. The Federal Reserve is expected to be watching the CPI closely for signs that consumer inflation is continuing its path toward 2%.
Thursday's US PPI report, weekly jobless claims data and Friday morning's US retail sales release for October will also provide concrete data on Americans' purchasing power in the current high-cost environment.
See more news related to gold prices HERE...
