Gold price today 11/19: Reversal to increase

Updated SJC gold price

As of 9:00 a.m., DOJI Group listed the price of SJC gold bars at 148.7-150.7 million VND/tael (buy in - sell out), an increase of 900,000 VND/tael 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 149.2-150.7 million VND/tael (buy - sell), an increase of 900,000 VND/tael 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 147.7-150.7 million VND/tael (buy - sell), an increase of 900,000 VND/tael in both directions. The difference between buying and selling prices is at 3 million VND/tael.

9999 round gold ring price

As of 9:00 a.m., DOJI Group listed the price of gold rings at 146-149 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 1.2 million 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 147-150 million VND/tael (buy - sell), an increase of 500,000 VND/tael 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 9:13, the world gold price was listed around 4,060.1 USD/ounce, up 27.2 USD compared to a day ago.

Gold price forecast

Gold prices today recovered quite well despite many times of decline. Thanks to this bounce, the market has avoided the fourth consecutive decline.

The key question for the current gold market continues to revolve around whether the US Federal Reserve (FED) will cut interest rates or maintain current interest rates at the upcoming FOMC meeting.

With inflation near 3% - a level often not suitable for considering interest rate cuts - the December meeting became an unusual situation. The current probability shows that the possibility of interest rate cuts is only under 50%, a significant decrease compared to the previous month, but still reflects a nearly even division among investors.

Some Fed officials have recently expressed concern about the current monetary policy stance, contributing to increased uncertainty. As a non-interest-bearing asset, gold often benefits from a lower interest rate environment, making any potential moves by the Fed especially important for the precious metals market.

The newly released labor market data is further reinforcing the case for a rate cut, although the risk of a government shutdown has delayed some reports. Unemployment claims data released today showed that the number of Americans receiving the support reached a two-month high in mid-October, with the number of extended claims increasing to 1.9 million in the week ended October 18.

Investors are now waiting for two key reports: the minutes of the FED meeting on October 28-29, which will be released tomorrow, and the Ministry of Labor's delayed September employment report, due on Thursday.

These two reports are expected to provide important information on the prospect of interest rate cuts in December, which many analysts believe has contributed to explaining the increase in gold and silver in today's session.

In another notable development, China added about 15 tonnes of gold to foreign exchange reserves in September, as global central banks accelerated their precious metals purchases after a seasonally quiet period in the summer, according to Goldman Sachs.

This estimate is much higher than the 1.24 tons that China officially reported in the month. Goldman's analysis team, including Lina Thomas, said central banks around the world bought a total of 64 tonnes of gold in September, more than three times more than the previous month. According to Goldman, this buying wave is likely to continue in November.

Technically, the $4,000/ounce mark is more likely to act as a support zone than a resistance zone.