The domestic gold price today, November 26, is being traded at the following level:
Saigon Jewelry Company listed the SJC gold purchase price at 41.10 million VND/tael; the selling price was 41.33 million VND/tael, down 70,000 VND/tael for both buying and selling compared to the end of the previous session. The current difference between buying and selling prices is 200,000 VND/tael.
At the same time, DOJI Group listed the gold price at 41.10-41.30 million VND/tael, down 130,000 VND/tael for buying, down 100,000 VND/tael for selling compared to the closing price of the previous session. The difference between selling prices is 200,000 VND/tael higher than the buying price.
The world gold price today, November 26, immediately reached 1,453 USD/ounce. The price of gold for delivery in February 2020 on the New York Comex was at 1,460 USD/ounce.
Converted at Vietcombank (23,260 VND/USD), the world gold price is equivalent to about 40.74 million VND/tael, 410,000 VND/tael lower than the selling price of SJC gold.
Another factor affecting USD prices is the process of trade negotiations between the US and China.
World gold prices were under great pressure and fell to a weekly low due to good information from the financial market. Asian stock markets increased sharply in the first session of the week thanks to new hope for US-China negotiations.
Accordingly, China has goodwill in the issue of intellectual property. This is something that US President Donald Trump is very interested in.
On the Chinese government's website, Beijing said it will increase fines for cases of intellectual property violations. This is also the biggest measure to increase China's economic competitiveness.
Currently, investors are "holding their breath" waiting to see whether the two countries can reach an agreement or not. China's Global Times reported that the two sides are getting very close to a trade deal. China said it plans to improve intellectual property protection.
Gold prices are also waiting for a signal of interest rate cuts from Federal Reserve Chairman Jerome Powell.
Mr. Powell is expected to speak at the annual dinner of the Greater Providence Chamber of Commerce this week. Investors expect Mr. Powell to emphasize the central bank's decision to temporarily suspend monetary policy easing after cutting interest rates three times this year.
