Gold price update on the morning of November 28: High, investors waiting for the Fed's move

SJC gold bar price

As of 6:00 a.m., the price of SJC gold bars was listed by DOJI Group at 151.4-153.4 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling prices is at 2 million VND/tael.

The price of SJC gold bars was listed by Bao Tin Minh Chau at 151.9-153.4 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling prices is at 1.5 million VND/tael.

Phu Quy Jewelry Group listed the price of SJC gold bars at 150.9-153.4 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling prices is at 2.5 million VND/tael.

9999 gold ring price

As of 6:00 a.m., DOJI Group listed the price of gold rings at 149.4-152.4 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling is 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 150-153 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling is 3 million VND/tael.

Phu Quy Gold and Stone Group listed the price of gold rings at 149.7-152.7 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling prices is at 3 million VND/tael.

The high buying and selling distance increases the risk for individual investors. Personal investors, especially those with a "surfing" mentality, need to consider carefully before putting money down.

World gold price

The world gold price was listed at 11:33 p.m. on November 26 at 4,155.8 USD/ounce, down 6.5 USD/ounce.

Gold price forecast

Gold prices remained steady near a two-week high as investors assessed the possibility of the US Federal Reserve (Fed) cutting interest rates in December.

We still expect the accumulation phase that started with the October correction to continue, as the impact of that decline has not completely subsided, said Julius Baer analyst Carsten Menke.

Factors that support the overall gold market remain unchanged, including slowing US growth leading to lower interest rates and a weaker US dollar, stable safe-haven demand and strong gold purchases from central banks, Menke added.

Mixed signals from the Fed about the timing and scale of interest rate cuts have boosted protectionist flows into swap contracts and derivatives associated with overnight interest rates.

Kevin Hassett - who emerged as the leading candidate to replace Jerome Powell as Fed Chairman - has sided with former President Donald Trump in calling for a rate cut.

Meanwhile, speeches this week by San Francisco Fed President Mary Daly and Fed Governor Christopher Waller also reinforced expectations for a cut.

Traders are now pricing in an 85% chance of an Fed rate cut next month, up from 30% just a week ago, according to CME's FedWatch tool.

In a recent interview, Daan Struyven - Head of Petroleum Research at Goldman Sachs - one of the world's largest and most influential investment banks and financial service institutions said that this investment bank still maintains a strong optimistic view on the precious metal.

We expect gold to increase by nearly 20% by the end of 2026, at around $4,900/ounce. Not as fast as this year - prices have increased by nearly 60% since the beginning of the year - but two drivers driving the increase in 2025, in our opinion, will continue to repeat in 2026 - he said.

The first driving force is the structural purchases of central banks. Since the central banks reserves have frozen in 2022, emerging market reserve managers have realized that they need to diversify to gold the only safe haven for domestic warehouses, the expert said.