Gold price this afternoon November 27, 2024: Gold price reversed to increase

Domestic gold price this afternoon November 27, 2024

At 2:30 p.m. on November 27, 2024, the price of SJC gold bars at Saigon Jewelry Company was listed at VND 82.8 million/tael for buying and VND 85.3 million/tael for selling, an increase of VND 100,000/tael compared to the morning. Large gold trading enterprises such as Bao Tin Minh Chau, DOJI, and Phu Quy also simultaneously adjusted the selling price of SJC gold bars to VND 85.3 million/tael.

The price of gold rings is also not out of the upward trend. Bao Tin Minh Chau Company listed the buying price at 82.68 million VND/tael and the selling price at 84.68 million VND/tael, an increase of 250,000 VND/tael compared to this morning. Meanwhile, DOJI Group strongly adjusted the buying price to 83.5 million VND/tael, an increase of 1 million VND, and the selling price was 84.5 million VND/tael, a slight increase of 100,000 VND.

On the morning of November 27, when the price of gold showed signs of decreasing, many investors rushed to buy, causing the price to rebound in the afternoon of the same day. On Tran Nhan Tong gold street (Hanoi), people flocked to stores, lining up to buy gold. Notably, large enterprises such as Bao Tin Minh Chau sold unlimited quantities of gold rings, something that was rare before. However, SJC gold bars were still scarce in many stores.

At Bao Tin Minh Chau store, although customers do not need to take a number, they still have to wait from 30 to 45 minutes for their turn to buy. This crowded scene shows that the current demand for gold is very high.

Ms. Ngoc Trinh, an investor from Hoang Mai district, Hanoi, shared that the rapid fluctuations in gold prices made her decide to buy 20 taels of gold immediately when the price dropped. She said: "If the price increases, I will sell it to make a profit, otherwise I will keep it for savings."

Similarly, Ms. Thuy Sen in Ba Dinh District, Hanoi, said: "Last month, I could only buy a maximum of 3 taels of gold at a time. Today, the store was selling freely, so I immediately bought 5 taels. Although I know that the price of gold can change constantly, I still feel more secure holding gold in my hand."

	Today (November 26, 2024)		Yesterday (November 25, 2024)
	Purchase price	Selling price	Purchase price	Selling price
SJC	83,000 300	85,500 300	82,700	85,200
DOJI HN	83,000 300	85,500 300	82,700	85,200
DOJI SG	83,000 300	85,500 300	82,700	85,200
BTMC SJC	83,000 200	85,500 200	82,800	85,300
Phu Quy SJC	83,000 200	85,500 200	82,800	85,300
PNJ HCMC	83,500 800	84,500 100	82,700	84,400

International gold price this afternoon November 27, 2024

As of the afternoon of November 27, 2024, the world gold price was trading at 2,640 USD/ounce, up more than 10 USD compared to the trading session in the US on November 26. When converted to Vietnamese currency at the free market exchange rate (25,810 VND/USD), the gold price is equivalent to 83.06 million VND/tael (including taxes and fees).

Compared to domestic gold rings, the difference has decreased by about 300,000 VND compared to yesterday, down to 1.62 million VND/tael. This shows that the change of the domestic market is gradually approaching the world market.

Global investors are now awaiting the minutes of the US Federal Reserve's November meeting to learn more about its upcoming monetary policy. This information could have a big impact on gold prices in the coming time, as gold prices tend to increase when monetary policy is loosened or when there are concerns about inflation.

According to Darin Newsom, market analyst at Barchart.com, gold prices may decline slightly in the short term due to market correction. However, in the long term, he believes that gold will continue to increase in price.

Marc Chandler, CEO of Bannockburn Global Forex, predicts that gold prices are likely to return to the record highs reached in late October this year. He even believes that gold prices could reach $3,000 an ounce by 2025.

Nitesh Shah, an expert at WisdomTree, gave a more cautious forecast. He predicted that gold prices will increase to $2,850/ounce by the fourth quarter of 2025.