Gold prices on November 13th: Dropped by over 1 million VND.

Gold prices today, November 13th, conclude a series of sharp declines following the surge on November 9th. In summary, after more than three consecutive days of falling prices, gold has lost over 1 million VND per ounce.

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The gold market last week was most heavily influenced by the US presidential election. Trump's victory initially boosted the price of the precious metal, but it subsequently reversed course and fell due to negative economic news.

The cooling down of the gold market following the US presidential election results seems to have significantly impacted investor sentiment. Looking back at the past week, the precious metal performed rather sluggishly in the early sessions, surged strongly in the middle of the week, and gradually cooled down towards the end. Gold prices recorded their lowest buying and selling levels at 35.60-35.90 million VND/ounce, while the highest listed prices were 36.70-37.25 million VND/ounce.

Leading up to the US presidential election, numerous predictions from experts made it difficult for investors to determine the trend. The long-awaited outcome finally arrived, with billionaire Donald Trump winning after a closely contested race against Hillary Clinton.

During the midweek trading session, the gold price did not surge as dramatically as predicted by experts. At the height of the price swings, it reached a near-week high of 37.25 million VND/ounce before retreating to a lower level.

The gold market remained quiet over the weekend. Gold prices in Ho Chi Minh City are trading at 35.55 - 35.9 million VND/ounce, while in Hanoi they are 35.55-35.92 million VND/ounce. This marks the third consecutive day of decline for the precious metal. Since the beginning of the week, each ounce of SJC gold has decreased by approximately 270,000 VND, equivalent to 0.75% of its value.

International gold prices also experienced significant fluctuations last week. In the final trading session of the week, the precious metal continued its sharp decline in the US market, as news of the finalized election results eroded investor confidence in safe-haven assets.

This is the lowest price in three weeks as gold plummeted to $1,218 per ounce. The decline in gold was further exacerbated by positive US economic data, including a strong consumer confidence index.

Looking back at the past week, precious metals slipped at the start of the week as the dollar and stocks surged on news of Hillary Clinton's acquittal after the FBI stated that there were no criminal charges against the Democratic presidential candidate.

In addition, the precious metal gold is also under downward pressure as investors' bets on the Fed raising interest rates later this year are increasing. This is especially supported by the positive employment figures from the non-farm payroll report released last week.

And the final result was that the new president of the United States was Donald Trump, which created major shocks for the markets and raised concerns about the policy path of the newly elected president.

According to Doji's market survey, the market's ups and downs over the past week have evoked a wide range of emotions among investors. These sentiments seem to have dampened investor enthusiasm throughout the week.

According to Vietnamnet