Gold prices this afternoon, November 27, 2024: Gold prices reverse course and rise.

Domestic gold prices this afternoon, November 27, 2024

At 2:30 PM on November 27, 2024, the price of SJC gold bars at Saigon Jewelry Company was listed at VND 82.8 million/ounce for buying and VND 85.3 million/ounce for selling, an increase of VND 100,000/ounce compared to the morning. Major gold trading businesses 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/ounce.

Gold ring prices also followed the upward trend. Bao Tin Minh Chau Company listed the buying price at 82.68 million VND/ounce and the selling price at 84.68 million VND/ounce, an increase of 250,000 VND/ounce compared to this morning. Meanwhile, DOJI Group significantly adjusted the buying price to 83.5 million VND/ounce, an increase of 1 million VND, while the selling price was 84.5 million VND/ounce, a slight increase of 100,000 VND.

On the morning of November 27th, as gold prices showed signs of falling, many investors rushed to buy, causing prices to rebound that afternoon. On Tran Nhan Tong gold street in Hanoi, people flocked to shops, queuing to buy gold. Notably, large businesses like Bao Tin Minh Chau sold gold rings without quantity limits, a rare occurrence. However, SJC gold bars remained scarce at many stores.

At the Bao Tin Minh Chau store, even though customers don't need a number, they still have to wait 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 led her to decide to buy 20 taels of gold immediately when the price dropped. She said, "If the price rises, I will sell to make a profit, otherwise I will keep it as savings."

Similarly, Ms. Thuy Sen from Ba Dinh district, Hanoi, said: "Last month, I could only buy a maximum of 3 taels of gold at a time. Today, the store is selling freely, so I bought 5 taels right away. Although I know the price of gold can change constantly, the feeling of holding gold in my hand is still more reassuring."

	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 Ho Chi Minh City	83,500 800	84,500 100	82,700	84,400

International gold prices this afternoon, November 27, 2024

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

Compared to domestic gold rings, the price difference has decreased by approximately 300,000 VND compared to yesterday, down to 1.62 million VND/ounce. This indicates that the domestic market is gradually aligning with the global market.

Currently, global investors are awaiting the minutes of the US Federal Reserve's November meeting to learn more about upcoming monetary policy. This information could significantly impact gold prices in the near future, as gold typically rises when monetary policy is loose or when there are concerns about inflation.

According to Darin Newsom, a market analyst at Barchart.com, gold prices may experience a slight short-term correction due to market adjustments. However, in the long term, he believes gold will continue to appreciate.

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

Nitesh Shah, an expert from WisdomTree, offered a more cautious forecast. He predicted that the price of gold would rise to $2,850 per ounce by the fourth quarter of 2025.