Gold price today November 25: Increasing continuously all week, world gold surpasses 2,700 USD mark

Domestic gold price today November 25, 2024

At the time of survey at 4:30 a.m. on November 25, 2024, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold today at 85.6 million VND/tael for buying and 86.6 million VND/tael for selling. The price of 9999 gold rings increased by 200 thousand VND/tael for buying and 100 thousand VND/tael for selling compared to the end of last week.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 85.7-87 million VND/tael for buying and selling. Compared to the end of last week, the price of SJC gold bars decreased by 300 thousand VND/tael for buying.

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 85.3-87 million VND/tael (buy - sell).

At Bao Tin Manh Hai, it is being traded at 85.3-87 million VND/tael (buy-sell). Compared to the end of last week, the gold price increased by 300 thousand VND/tael in the buying direction.

The latest gold price list today, November 25, 2024 is as follows:

World gold price today November 25, 2024 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was 2,711.91 USD/Ounce. Today's gold price increased by 150.44 USD/Ounce compared to the same day last week. Converted according to the USD exchange rate, on the free market (25,750 VND/USD), the world gold price is about 85.12 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 1.87 million VND/tael higher than the international gold price.

Last week, the gold bar market witnessed a continuous increase in price for 5 days from Monday (November 18) to Friday (November 22), before stabilizing on the weekend (November 23).

The buying price of SJC gold bars increased by a total of 5 million VND/tael, closing at 85 million VND/tael.

Selling price increased by 3.5 million VND/tael, closing at 87 million VND/tael.

After deducting the difference between buying and selling prices, investors can profit about 1.5 million VND/tael if trading this week.

The difference between buying and selling prices has decreased significantly, from 3.5 million VND at the end of last week to less than 2 million VND. This shows that businesses have adjusted to attract transactions in the context of strong gold prices.

Although domestic gold prices increased rapidly, they still followed closely the increasing trend of world gold prices and maintained a difference of between 2 million and 3.5 million VND throughout the past week.

While gold bar prices remained stable over the weekend (November 23), gold ring prices continued to increase steadily from Monday to Saturday, creating an impressive week of price increases.

Buying price increased from 4.1 to 5.2 million VND/tael, reaching 84.8-85.6 million VND/tael at the weekend.

Selling price increased by 3.9 to 4.2 million VND/tael, closing at 86.5-86.8 million VND/tael.

During this price increase, the gap between buying and selling prices of gold rings has narrowed significantly, from 1.7-2.5 million VND last week to 950 thousand to 1.8 million VND.

Gold ring owners last week could have made a profit of 2 to 3 million VND/tael, after deducting the difference between buying and selling.

Gold rings are sold at only 200,000 VND/tael lower than gold bars, this difference has decreased 600,000 VND compared to last weekend.

The buying price of gold rings is about 600,000 VND/tael higher than the buying price of SJC gold bars, reflecting the attractiveness of gold rings to investors.

The world gold price has increased continuously for 6 consecutive sessions, surpassing the 2,700 USD/ounce mark. In total, the price increased by about 6% for the whole week, marking the strongest increase in nearly 2 years.

The rise came amid rising investor demand for safe havens, overcoming pressure from a strong US dollar and lower expectations of US interest rate cuts.

According to Mr. Alex Ebkarian (Director of Allegiance Gold), geopolitical tensions and economic risks have boosted demand for gold in the short term.

Tensions have risen after the UK and US authorized Ukraine to use weapons to strike deep into Russian territory. Russia responded with more aggressive attacks, including the launch of intercontinental ballistic missiles. These actions increase the risk of global conflict, making gold a safe choice for protecting assets.

Data from the CME FedWatch tool shows that the probability of the US Federal Reserve cutting interest rates by 0.25% in December has dropped from more than 80% to less than 53%. This helps gold prices to be less pressured by interest rate expectations.

The Dollar Index, which measures the greenback against a basket of other currencies, rose nearly 0.5% to 107.49, its highest in two years. This typically puts pressure on gold, which is priced in dollars and does not pay interest.

Mr. Ebkarian commented that President-elect Donald Trump's policy plans, including import tariffs, could increase inflation in the US. In this environment, gold will play its role as an effective investment channel against inflation.

Gold price forecast

The outlook for gold remains strong, with safe-haven demand, geopolitical concerns and central bank policy continuing to support prices. Investors should keep an eye out for a possible rise towards $2,750-$2,790, but also be wary of any reversal if there is a change in Fed policy or if the geopolitical situation becomes more stable.

According to a Kitco News survey, the current sentiment among experts on gold prices is quite optimistic. Of the 18 experts participating, 16 believe that gold prices will continue to rise, 2 predict that gold prices will stabilize, and no one thinks that gold prices will fall.

Gold prices are benefiting from tensions between Russia and Ukraine, along with buying demand after previous falls in prices, said Rich Checkan, president of Asset Strategies International.

Barchart.com expert Darin Newsom warned that gold prices could correct lower in the short term, but he still believes the upward trend will continue until the end of this year.

Marc Chandler, director of Bannockburn Global Forex, predicts that gold prices could reach $3,000 per ounce by 2025. He believes that geopolitical factors, such as political events and conflicts, will be the main drivers of gold prices.

This week, due to the Thanksgiving holiday in the US, analysts predict that trading volume will increase sharply at the beginning of the week.

Phoenix Futures and Options President Kevin Grady said he expects heavy trading volume early in the week, Monday through Wednesday, before markets close for the holiday.

Experts at CPM Group also expect gold prices to reach $2,730 an ounce in the next two weeks, thanks to economic and political factors. However, they also warn that there may be profit-taking as we enter December.