SJC gold bar price
As of 6:00 a.m. on November 16, the price of SJC gold bars listed by DOJI Group was at 80-83.5 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, gold prices at DOJI remained unchanged in both buying and selling directions.
The difference between buying and selling price of SJC gold at DOJI Group is at 3.5 million VND/tael.
Saigon Jewelry Company SJC listed the price of SJC gold at 80-83.5 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, the gold price at Saigon Jewelry Company SJC remained unchanged in both buying and selling directions.
The difference between buying and selling price of SJC gold at Saigon Jewelry Company is at 3.5 million VND/tael.
Bao Tin Minh Chau listed SJC gold price at 80.3-83.5 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, gold price at Bao Tin Minh Chau increased by 300,000 VND/tael for buying and remained unchanged for selling.
The difference between buying and selling price of SJC gold at Bao Tin Minh Chau is at 3.2 million VND/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 gold ring price
As of 6:00 a.m. on November 16, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 81-82.7 million VND/tael (buy - sell), an increase of 1.2 million VND/tael for buying and an increase of 600,000 VND/tael for selling compared to the beginning of the previous trading session.
Bao Tin Minh Chau listed the price of gold rings at 80.78-82.68 million VND/tael (buy - sell); increased by 660,000 VND/tael for buying and increased by 460,000 VND/tael for selling.
In recent sessions, the price of gold rings has often fluctuated in the same direction as the world market. Domestic investors can refer to the world gold price before investing or taking profits.
World gold price
As of 1:00 a.m. on November 16 (Vietnam time), the world gold price listed on Kitco recovered to 2,562.2 USD/ounce, down 1.2 USD/ounce compared to the beginning of the previous trading session.
Gold Price Forecast
World gold prices remained unchanged as the USD index did not change much. Recorded at 1:00 a.m. on November 16, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 106,550 points (down 0.07%).
Gold is on track for its biggest weekly decline since 2021, down nearly 5% for the week, according to Kitco. Gold prices were weaker after a stronger-than-expected U.S. retail sales report.
U.S. economic data showed retail sales rose 0.4% in October from the previous month, slightly above traders' expectations for a 0.3% increase. The hotter CPI data followed U.S. consumer and producer price index reports this week that showed steady inflation.
US Federal Reserve Chairman Jerome Powell gave a speech on Thursday afternoon and was somewhat tough on US monetary policy.
“Mr Powell spooked markets in his speech and Q&A session on Thursday. He said the US economy gave no indication that the central bank should rush to cut interest rates,” said David Morrison, senior market analyst at Trade Nation.
His comments led to a pullback in stocks and a rise in bond yields. The comments also led to a sharp reversal in interest-rate cut expectations as measured by the CME FedWatch Tool.
The probability of a 25 basis point rate cut at the Fed's FOMC meeting next month was 82% on Thursday morning. That number dropped to 62% after Powell's comments. Meanwhile, the Boston Fed said Thursday that a December rate cut by the Fed is "certainly on the table but not a done deal."
The key outside markets today saw Nymex crude oil futures fall to trade around $68.25 a barrel. The benchmark 10-year US Treasury note yield is currently at 4.449%.
Technically, December gold futures shorts have the overall near-term technical advantage. Gold is trending down on the daily bar chart.
See more news related to gold prices HERE...
