Gold price today 11/17: Reversal to increase

Updated SJC gold price

As of 9:45 a.m., DOJI Group listed the price of SJC gold bars at 149-151 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 149.5-151 million VND/tael (buy - sell), an increase of 500,000 VND/tael for buying and unchanged for selling. 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 148-151 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling prices is at 3 million VND/tael.

9999 round gold ring price

As of 9:45 a.m., DOJI Group listed the price of gold rings at 146.9-149.9 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 148-151 million VND/tael (buy - sell), an increase of 200,000 VND/tael 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 147.5-150.5 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling is 3 million VND/tael.

The buying-selling gap is at a high level, increasing the risk for individual investors. Personal investors, especially those with a "surfing" mentality, need to consider carefully before putting money down.

World gold price

At 9:42 a.m., the world gold price was listed around 4,087 USD/ounce, up 7.3 USD compared to a day ago.

Gold price forecast

World gold prices recovered somewhat at the beginning of the week after a sharp decline at the end of last week. Precious metals increase as the USD weakens. Improved market sentiment after the US government's resumption has weakened demand for safe-haven assets such as gold.

Ole Hansen - Director of Commodity Strategy at Saxo Bank - said that he is optimistic about gold this week, unless the stock market experiences a strong sell-off. The S&P 500 index this week was under significant selling pressure but still maintained the important support zone above 6,600 points.

Hansen believes that in the event of a widespread stock market slump, no asset - other than the Japanese Yen - can avoid short-term selling pressure.

James Stanley, senior market strategist at Forex.com, also said he is bullish on gold but has not expected an immediate breakout.

I think the market is entering an accumulation phase, similar to the last two months of last year or the four months since April this year, which led to Powells speech at Jackson Hole and then another erection. I am still leaning towards buying positions because the platform context has not changed much. What is happening now is mainly profit-taking after a very strong increase.

Mr. Adrian Day - Chairman of Adrian Day Asset Management - commented: "There is still a lot of uncertainty surrounding the US economy, taxes and further interest rate moves. Gold may have to re-evaluate the recent bottom around $3,930/ounce before recovering convincingly. However, if there is an adjustment, it will likely be short and shallow, because the core factors supporting gold are still there."

Traders will be waiting for more signals from Fed officials' speeches on Monday, when John Williams, Philip Jefferson, Neel Kashkari and Christopher Waller will all speak up.

In addition, investors are also paying attention to a series of US economic data due for release this week, including Empire State manufacturing survey on Monday; FOMC meeting minutes on Wednesday; Philly FED manufacturing survey, weekly jobless claims and existing home sales on Thursday; along with S&P's preliminary PMI and the University of Michigan consumer confidence index on Friday.