Gold price in Nghe An today (November 18): 500-700,000 VND/tael higher than domestic gold price
Opening the new trading session of the week, the gold price in Nghe An remained unchanged, maintaining the same price as yesterday. Gold trading in the market was quite quiet.
Domestically, at the opening of this morning's trading session, gold bars were sold by gold and gemstone companies at VND83.5 million/tael. On the buying side, the gold price of most brands was listed at VND80 million/tael. For 9999 gold rings, the price was fixed at VND80.3 - 83 million/tael, an increase of VND500,000/tael on the buying side and an increase of VND700,000/tael on the selling side compared to the previous closing session.
In Nghe An, 9999 gold rings are listed by gold shops as follows: Kim Thanh Huy Gold and Silver is 81 million VND/tael (buy) and 84 million VND/tael (sell); Duc Tai Tam Dat Gold and Silver (Quynh Luu) is 80.50 million VND/tael (buy) and 83.50 million VND/tael (sell); Nhu Trinh Gold and Silver is 80 million VND/tael (buy) and 83.30 million VND/tael (sell);... Thus, compared to the national price level, the price of gold rings in Nghe An is 500-700,000 VND/tael higher (buy) and 500,000 - 700,000 VND/tael higher (sell).
According to records, in recent days, the gold market in Nghe An has been quite quiet in both buying and selling directions. Most people do not spend money at this time to buy gold for storage, and at the same time, do not sell gold when the price is at rock bottom. For the most part, at this time, only a few people go to buy wedding gold or gold from the ward or hui.
The gold market is expected to be quieter this week as few important economic data are released. The news to be expected will be data on housing and building permits in the US, home sales and the University of Michigan consumer sentiment survey. In addition, the market is also waiting for comments from some Fed officials to assess the speed and extent of upcoming interest rate cuts.
The latest Kitco News weekly gold survey shows that both professionals and retail investors are concerned about the near-term outlook for the yellow metal. Many experts believe that gold will continue its decline from last week, with prices forecast to hit $2,300 an ounce.
