Gold price this afternoon November 28, 2024: Gold price decreased while USD increased
Gold prices this afternoon, November 28, 2024, decreased in both the world and domestic markets. Meanwhile, the USD strengthened because the US Federal Reserve (Fed) may be cautious in cutting interest rates further.
Domestic gold price this afternoon November 28, 2024
At the time of survey at 3:00 p.m. on November 28, 2024, domestic gold prices had some slight changes compared to yesterday. Specifically:
The price of SJC gold bars in the domestic market is currently trading between VND82.90 million/tael and VND85.40 million/tael (buying - selling), a slight decrease of VND100,000/tael compared to the previous trading session. However, the current difference between buying and selling prices is up to VND2.5 million/tael.
The price of SJC gold rings also decreased slightly, ranging from 82.50 million VND/tael to 84.40 million VND/tael (buy - sell), down about 200 thousand VND/tael compared to the beginning of yesterday.
At Bao Tin Manh Hai, Thang Long Dragon gold rings are traded at 83.08 million VND/tael to 84.58 million VND/tael (buy - sell).
Phu Nhuan Jewelry Company (PNJ) is currently trading Kim Bao 999.9 gold bars at VND 83.40 million/tael to VND 84.50 million/tael (buy - sell).
The domestic gold bar and gold ring prices have both decreased slightly, with the highest decrease of 200,000 VND/tael, both for buying and selling. Despite this decrease, the difference between buying and selling prices remains quite high, posing potential risks to buyers.
| Today (November 28, 2024) | Yesterday (November 27, 2024) | |||
| Purchase price | Selling price | Purchase price | Selling price | |
| SJC | 82,900  100 | 85,400 100 | 83,000 | 85,500 |
| DOJI HN | 82,900100 | 85,400 100 | 83,000 | 85,500 |
| DOJI SG | 82,900 100 | 85,400 100 | 83,000 | 85,500 |
| BTMC SJC | 82,900100 | 85,400100 | 83,000 | 85,500 |
| Phu Quy SJC | 82,900100 | 85,400100 | 83,000 | 85,500 |
| PNJ HCMC | 83,400 100 | 84,500 | 83,500 | 84,500 |
| PNJ Hanoi | 30,29040 | 31,690 40 | 30,330 | 31,730 |
International gold price this afternoon November 28, 2024
In the trading session on November 28, the world gold price continued to decrease slightly. Specifically, the spot gold price decreased by 0.3% to 2,627.60 USD/ounce. The US gold futures price also decreased by 0.5% to 2,627.00 USD.
The main reason for this price decrease was the slight increase of 0.1% in the USD index, making gold less attractive to investors holding currencies other than the USD.
According to Kelvin Wong, senior analyst at OANDA Asia-Pacific, the gold market is currently closely watching the moves of the US Federal Reserve (Fed), especially the possibility of a rate cut next year.
The latest Core Personal Consumption Expenditures (PCE) data showed inflation is trending down, raising expectations that the Fed will adopt a less dovish policy in the near term.
However, despite signs of cooling inflation, the Fed remains steadfast in its goal of getting inflation back to 2%. In addition, the possibility of higher taxes from the Trump administration could also have a strong impact on US monetary policy decisions.
According to the CME group's FedWatch tool, the market currently predicts a 64.7% chance that the Fed will cut interest rates by 0.25 percentage points next December.
Meanwhile, Mexican President Claudia Sheinbaum has warned of retaliation if US President Donald Trump carries out plans to impose a 25% tariff on imports from Mexico.
