Gold price this afternoon November 25, 2024: Domestic and world gold prices suddenly dropped sharply
Domestic gold price today, November 25: World gold price 'turned around' and decreased by 50 USD/ounce. SJC gold bar price suddenly decreased this afternoon.
Domestic gold price this afternoon November 25, 2024
Gold prices on November 25, 2024 have decreased simultaneously at many major domestic brands. Brands such as SJC, DOJI HN, and DOJI all adjusted down 400 thousand VND/tael in both buying and selling prices.
For Bao Tin Minh Chau SJC and Phu Quy SJC, the buying price decreased more sharply with a decrease of 700 thousand VND/tael, while the selling price only decreased by 400 thousand VND/tael.
PNJ Company recorded the biggest decrease. The buying price decreased by 1.1 million VND/tael and the selling price decreased by 1 million VND/tael, the deepest adjustment compared to other brands on the same day.
The gap between buying and selling prices at most brands remains at a difference of about 2 million VND/tael.
The domestic gold ring price is also affected by the downward trend of world gold prices. SJC 9999 gold rings are currently traded at VND84.50 - 86.00 million/tael, down VND500,000/tael in both buying and selling compared to the previous session.
Phu Quy Rings also decreased sharply, with the buying price decreasing by 800 thousand VND/tael and the selling price decreasing by 600 thousand VND/tael, bringing the current price down to 84.80 - 86.20 million VND/tael.
At DOJI, ring gold recorded a decrease of 900 thousand VND/tael in buying price and 500 thousand VND/tael in selling price, currently trading at 84.70 - 86.10 million VND/tael.
| Today (November 25, 2024) | Yesterday (11/24/2024) | |||
| Purchase price | Selling price | Purchase price | Selling price | |
| SJC | 84,600 400 | 86,600400 | 85,000 | 87,000 |
| DOJI HN | 84,600400 | 86,600400 | 85,000 | 87,000 |
| DOJI SG | 84,600400 | 86,600400 | 85,000 | 87,000 |
| BTMC SJC | 84,600700 | 86,600400 | 85,300 | 87,000 |
| Phu Quy SJC | 84,600700 | 86,600400 | 85,300 | 87,000 |
| PNJ HCMC | 84,4001100 | 85,8001000 | 85,500 | 86,800 |
International gold price this afternoon November 25, 2024
After 5 consecutive sessions of increase, the world gold price dropped sharply by more than 50 USD/ounce on the morning of November 25, mainly due to investors selling to take profits.
At the beginning of the trading session, the world spot gold price fell to 2,665 USD/ounce. According to expert Matt Simpson from City Index, investors wanted to take advantage of last week's high price (2,720 USD/ounce) to take profits, causing the gold price to be under pressure to decrease.
Short trading hours this week, due to the Thanksgiving holiday in the US, are also the reason why gold prices have had difficulty maintaining the upward momentum from last week.
Despite the fall in gold prices, a weaker US dollar (the Dollar Index fell 0.7% to 106.9 points) and falling US bond yields have somewhat curbed gold’s decline. A weaker US dollar makes gold more attractive to investors.
Meanwhile, physical gold demand in India and China has declined. In India, high domestic gold prices have reduced purchasing power, and trading has been relatively quiet in China and other Asian countries.
In financial markets, the Fed's interest rate is a factor of interest. According to the CME FedWatch tool, the probability of the Fed cutting interest rates in December has decreased from 62% to 51%. Higher interest rates make gold less attractive because gold does not generate interest.
The US is expected to release some important economic data this week such as the October meeting minutes, adjusted third quarter GDP, and the PCE consumer price index. These are factors that may impact the gold market in the coming time.
Elsewhere, Bitcoin rose slightly to $97,511 after hitting a high of $99,830 last week. The currency surged on expectations that President Donald Trump would adopt a more crypto-friendly policy following his landslide election victory.
