Gold price today 11.12: Gold rings increase very strongly

Update SJC gold price

As of 9:30 a.m., DOJI Group listed the price of SJC gold bars at VND84.6-87.1 million/tael (buy - sell); an increase of VND1.5 million/tael for both buying and selling compared to the opening of the trading session yesterday morning.

The difference between buying and selling price of SJC gold at DOJI Group is at 2.5 million VND/tael.

Meanwhile, Saigon Jewelry Company listed the price of SJC gold at 84.6-87.1 million VND/tael (buy - sell), an increase of 1 million VND/tael for buying and 1.5 million VND/tael for selling compared to the opening of the trading session yesterday morning.

The difference between buying and selling price of SJC gold at Saigon Jewelry Company is at 2.5 million VND/tael.

Bao Tin Minh Chau listed SJC gold price at 84.6-87.1 million VND/tael (buy - sell), an increase of 1 million VND/tael for buying and 1.5 million VND/tael for selling compared to the opening of the trading session yesterday morning.

The difference between buying and selling price of SJC gold at Bao Tin Minh Chau is at 2.5 million VND/tael.

Currently, the difference between buying and selling gold prices is listed at around 2.5 million VND/tael. Experts say this difference is still very high. The difference between buying and selling prices is a factor that investors need to consider when participating in the gold market. It directly affects the ability to make a profit, especially in the short term.

Price of round gold ring 9999

As of 10:30 a.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 84.8-85.9 million VND/tael (buy - sell); an increase of 900,000 VND/tael for buying and an increase of 1 million VND/tael for selling compared to early this morning.

Bao Tin Minh Chau listed the price of gold rings at 84.43-85.93 million VND/tael (buy - sell), an increase of 400,000 VND/tael for buying and an increase of 1 million VND/tael for selling compared to early this morning.

World gold price

As of 9:25 a.m., the world gold price listed on Kitco was at 2,701.6 USD/ounce, up more than 34 USD/ounce compared to the beginning of the previous trading session.

Gold Price Forecast

World gold prices increased as the USD decreased. Recorded at 9:30 a.m. on December 11, the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 105.860 points (down 0.11%).

Central bank activity has emerged as another key driver of gold’s rally, with the People’s Bank of China in particular seeing record demand for its gold reserves after a period of relative calm. The purchases by these institutions reflect a growing confidence in gold as a strategic asset allocation.

Gold’s rally since Monday has taken it above its 20-day and 50-day moving averages, said David Morrison, senior market analyst at Trade Nation. While technical momentum remains slightly negative, Morrison said it is showing signs of improvement.

“Bulls will be hoping that this momentum continues to build, helping push prices back above $2,700 an ounce quickly,” he said. “If that happens, it would be an impressive recovery from the lows of less than a month ago. However, bulls will also need gold to hold support at $2,600 an ounce during downside corrections.”

Ricardo Evangelista, senior analyst at ActivTrades, said gold continued to benefit from geopolitical uncertainty as well as expectations that the US Federal Reserve (FED) will cut interest rates after its monetary policy meeting next week.

However, Mr. Evangelista also highlighted a major challenge for gold this week as investors focus on persistently high inflation.

“The US dollar has regained strength following better-than-expected non-farm payrolls data last Friday, creating a challenge for gold prices due to the inverse relationship between the two assets,” he said. “Analysts expect consumer prices to rise, which could add to the dollar recovery narrative and put pressure on gold. Conversely, if inflation is lower than expected, gold prices could be supported.”

Meanwhile, Naeem Aslam, chief investment officer at Zaye Capital Markets, said higher-than-expected inflation is not expected to deter the Fed from cutting interest rates next week. However, it could change expectations for interest rates in 2025.