Gold price this afternoon November 20, 2024: 9999 gold ring price and SJC gold price broke out to nearly 86 million VND

Domestic gold price this afternoon November 20, 2024

At 2:00 p.m. on November 20, 2024, the gold price on the trading market of some companies was recorded as follows:

SJC gold prices ranged from VND82.7 million/tael (buy) to VND85.7 million/tael (sell), an increase of VND700,000/tael compared to the morning of the same day. SJC 9999 gold ring prices were traded at VND82.7 million/tael when buying and VND84.9 million/tael when selling, an increase of VND500,000/tael.

Brands such as DOJI and PNJ have gold prices at 82.7 million VND/tael for buying and 85.7 million VND/tael for selling. DOJI's 9999 gold ring price also increased, with an increase of 1 million VND/tael for buying and 700,000 VND/tael for selling compared to the morning trading session. Specifically, DOJI Hung Thinh Vuong 9999 gold ring has a buying price of 84.5 million VND/tael and a selling price of 85.5 million VND/tael.

At Mi Hong Jewelry Company, SJC gold price is listed from 84.5 million VND/tael (buy) to 85.7 million VND/tael (sell). Compared to the previous day, SJC gold bar price has increased by 2 million VND/tael.

Bao Tin Minh Chau Company listed the price of SJC gold at 83.2 million VND/tael for buying and 85.7 million VND/tael for selling. Meanwhile, at Bao Tin Manh Hai, the price of gold fluctuated from 82.9 million VND/tael for buying and 85 million VND/tael for selling.

Since the beginning of the week, the price of gold rings has increased by about 3 million VND/tael, although it is still about 5 million VND lower than the highest level at the end of October.

According to Mr. Huynh Trung Khanh, Vice President of the Vietnam Gold Trading Association (VGTA), the recent drop in gold prices is a necessary technical adjustment after a long period of growth. Gold needs to have an adjustment to stabilize and prepare for a new price level.

In the long term, Mr. Khanh believes that gold prices can continue to increase, supported by buying demand from central banks and geopolitical tensions that show no signs of abating.

	Today (November 20, 2024)		Yesterday (November 19, 2024)
	Purchase price	Selling price	Purchase price	Selling price
SJC	82,700 700	85,700 700	82,000	85,000
DOJI Hanoi	82,700 700	85,700 700	82,000	85,000
DOJI SG	82,700 700	85,700 700	82,000	85,000
BTMC SJC	83,200 200	85,700 700	83,000	85,000
Phu Quy SJC	83,200 900	85,700 700	82,300	85,000
PNJ HCMC	84,300 700	85,400 600	83,600	84,800
PNJ Hanoi	84,300 700	85,400 600	83,600	84,800

International gold price this afternoon November 20, 2024

The world gold price today recorded a sharp increase due to the escalating tension between Russia and Ukraine. Analysts also forecast that the demand for gold from central banks will remain stable in the coming time, which is a factor supporting the gold price.

Investors had previously expected that Mr. Trump, if elected, would be able to end the conflict in Ukraine within 24 hours, as he has said. This expectation caused gold prices to fall sharply, from a peak of $2,789 an ounce on October 30 to $2,540 on November 14.

However, the current situation in Ukraine may change. Ukraine believes that long-range missiles made by the US could change the situation of the war, while Russia warns of a strong response if Kiev uses these missiles to attack Russian territory.

According to Bloomberg, Moscow has accused Ukraine of launching a US-made long-range missile into Russia’s Bryansk province, which is seen as a very bad sign for the region.

With such tense developments, the demand for gold has increased sharply. Goldman Sachs recently published a report predicting that the price of gold will reach $3,000/ounce by 2025.

In addition to political factors, gold is also supported by the US Federal Reserve's (Fed) interest rate cut cycle, which could also boost gold prices in the medium and long term.