Gold price today November 26: Sell, run away on Black Friday

Gold prices today, November 26, continue to sink to the bottom. With no positive outlook, investors are still looking for ways to flee. In the same rhythm as Black Friday, gold prices continue to decline.

Opening at 8:30 a.m., the price of gold bars was listed by DOJI Gold and Gemstone Group at VND35.53 million/tael (buy) and VND35.63 million/tael (sell), down VND20,000 compared to the end of yesterday.

At SJC Company, the listed gold price for buying is 35.45 million VND/tael, and for selling is 35.67 million VND/tael. In Ho Chi Minh City market, the listed selling price is 35.65 million VND/tael.

The world gold price at the same time was lower than the domestic gold price, the converted price was 32.37 VND/tael.

The world gold price listed on the New York floor at 5:00 a.m. (Vietnam time) was 1,184.60 USD/ounce, down 0.3%. In the Asian market, gold trading on the Shanghai floor was listed at 1,202.15 USD/ounce.

Gold is under pressure from a number of factors including the stock market, currencies and expectations of higher interest rates. Since Mr. Trump was elected President of the United States, the stock market has been on the rise.

Mr. Fawad Razaqzada, a technical analyst for Forex, commented that the increase in the value of the USD, followed by the excitement of the stock market, made investors no longer feel that gold is a safe haven for money. This was shown through transactions, investors took profits after the gold price reached 1,2000 USD/ounce.

The exchange-traded fund has reduced its gold holdings by 5% to 54,135,000 ounces since November 9, the day after the election. According to investors, the Fed's financial meeting in early December will be the focus of the gold market.

Although gold prices are low, according to economist Nouriel Roubini, the new President's policies will impact the USD when he officially runs the country as US President.

In the afternoon session yesterday, November 25, in the Hanoi market, the SJC gold price of Saigon Jewelry Company was listed at 35.40 - 35.58 million VND/tael (buy - sell), an increase of 80,000 VND/tael compared to this morning's session.

At 3:10 p.m., DOJI Gold and Gemstone Group listed the price of SJC gold at VND35.47 - 35.57 million/tael (buy - sell), an increase of VND90,000/tael in both directions compared to before.

Meanwhile, the buying and selling price of gold at Saigon Jewelry Company Limited in Hanoi was listed at VND35.34 - 35.54 million/tael, down VND90,000 for buying and VND100,000 for selling compared to the end of the day on November 24. The price of SJC gold in the Ho Chi Minh City market also fluctuated similarly, listed at VND35.34 - 35.52 million/tael.

According to vietnamnet