Gold price this afternoon November 18, 2024: 9999 ring gold price and SJC gold increased by 1 million VND/tael

Domestic gold price this afternoon November 18, 2024

At 1 p.m. on November 18, 2024, the world gold price increased sharply, nearly reaching 2,600 USD/ounce. This has led to significant fluctuations in the domestic gold market. Specifically, the price of gold bars and gold rings in Vietnam has increased significantly, creating great attraction for investors and people.

In Hanoi and Da Nang, SJC gold price increased by 1 million VND in buying price, reaching 81 million VND/tael, while selling price increased by 500,000 VND, to 84 million VND/tael.

Similarly, Phu Quy SJC gold also increased by 900,000 VND in buying price, reaching 81.2 million VND/tael, and selling price was 84 million VND/tael, an increase of 500,000 VND.

In addition, DOJI gold in Hanoi and Ho Chi Minh City recorded a buying price of VND81 million/tael, an increase of VND1 million, and a selling price of VND84 million/tael, an increase of VND500,000.

Gold bars at Bao Tin Minh Chau Company also had similar adjustments, with the buying price of 81.2 million VND/tael (+900,000 VND) and the selling price of 84 million VND/tael (+500,000 VND).

Plain gold rings here are traded at 81.78 million VND/tael for buying (+750,000 VND) and 83.28 million VND/tael for selling (+600,000 VND).

A notable point is that the domestic gold ring price not only increased sharply but also responded sensitively to the rising trend of world gold prices. This was partly driven by increased demand at the end of the year, when many Asian countries, including Vietnam, often buy gold for festivals and weddings. This is a long-standing cultural habit, contributing to pushing the gold price to its highest level since November 13.

Currently, the difference between the buying and selling price of gold rings at some businesses has dropped to below 2 million VND.

This is considered a positive signal for buyers, as the low spread helps reduce the risk when investing in gold. In the context of gold prices still trending up, these moves create confidence for the market and investors.

	Today (November 18, 2024)		Yesterday (November 17, 2024)
	Purchase price	Selling price	Purchase price	Selling price
SJC	81,000 1000	84,000 500	80,000	83,500
DOJI Hanoi	81,000 1000	84,000 500	80,000	83,500
DOJI SG	81,000 1000	84,000 500	80,000	83,500
BTMC SJC	81,200 900	84,000 500	80,300	83,500
Phu Quy SJC	81,200 900	84,000 500	80,300	83,500
PNJ HCMC	81,800 900	83,200 600	80,900	82,600
PNJ Hanoi	81,800 900	83,200 600	80,900	82,600

International gold price this afternoon November 18, 2024

Currently, the world gold price is trading at 2,593 USD/ounce, up about 30 USD compared to last weekend. Converted at the free exchange rate (25,760 VND/USD), the world gold price is equivalent to 81.42 million VND/tael (including taxes and fees), about 2.08 million VND lower than the domestic gold ring price. Compared to last weekend, this difference has decreased by about 300,000 VND.

The world gold price is heading towards the 2,600 USD/ounce mark, but the market is still under pressure from many unfavorable factors. The strengthening USD, along with changes in US economic policy, reduces the attractiveness of gold.

A Kitco News survey shows that the gold market is in a bearish mood. Sean Lusk, an expert at Walsh Trading, said that rising bond yields and the strength of the US dollar are putting a lot of pressure on gold prices. In addition, many investors selling gold to raise cash before important events, such as the US election, also contributed to the decline in gold prices.

Experts believe that as gold prices fall further, central banks in some regions may return to buying to stabilize the market. However, the economic situation in Europe remains weak, causing the euro to fall and promoting buying of US dollars, putting further pressure on gold prices.

Adam Button, chief strategist at Forexlive, said that while gold prices may stabilize in the coming period, a clear recovery still needs more time.

Meanwhile, Mr. David Morrison, senior analyst at Trade Nation, commented that gold's short-term technical chart is showing signs of improvement, but it cannot be confirmed that gold prices have bottomed.

Many experts predict that if major central banks like China or Europe apply economic stimulus measures, the demand for gold may increase again. However, in the short term, gold prices may still fluctuate or go sideways if there are no unexpected geopolitical factors.