Gold price in Nghe An today (November 19): Strong increase in selling direction
Adjusting to the increasing trend of world gold price and domestic gold price, today, November 19, gold price in Nghe An increased sharply in the selling direction.
At the opening of the trading session on November 19, the world spot gold price increased by 48 USD to 2,611 USD per ounce. The market thus ended the series of 6 sessions of decline last week that caused gold to fall to a 2-month low.
In the domestic market, today, the gold price increased sharply, reaching 81 - 84 million VND/tael (buy - sell). Similarly, the price of gold rings also skyrocketed. The price of SJC 9999 gold was fixed at 80.9 million VND/tael for buying and 83.1 million VND/tael for selling, an increase of 1.2 million VND for buying and 800,000 VND for selling. DOJI adjusted the buying price up by 1.4 million VND and the selling price up by 1 million VND, to 82.4 million VND/tael and 83.7 million VND/tael, respectively.
In Nghe An, 9999 gold rings are listed by gold shops as follows: Kim Thanh Huy Gold and Silver is 82.0 million VND/tael (buy) and 85.50 million VND/tael (sell); Duc Tai Tam Dat Gold and Silver (Quynh Luu) is 81.20 million VND/tael (buy) and 84.80 million VND/tael (sell); Nhu Trinh Gold and Silver is 81.30 million VND/tael (buy) and 84.60 million VND/tael (sell);... Thus, compared to the national price level, the price of gold rings in Nghe An is 1 - 1.5 million VND/tael higher for selling.
After the gold price skyrocketed, the gold market in Nghe An is likely to gradually warm up. From the beginning of the morning, many people came to the gold shop to consult the price, some people decided to sell to take profit when the gold price recovered.
Mr. Dang Manh Hung, a resident of Le Mao ward (Vinh city) said: “At this time, we need cash to buy goods at the end of the year. Moreover, selling now has a good profit, so we decided to sell some of the gold we bought before. Because if we wait any longer, we don’t know what will happen in the near future, monetary policies and political changes are also very unpredictable…”.
The Fed will hold its final policy meeting of the year in mid-next month, and is expected to cut interest rates for the third time this year, despite recent data suggesting that the slowdown in inflation is slowing. Low interest rates are good for non-interest-bearing assets like gold. "The next support level will be $2,650 an ounce," said trading platform Kinesis Money.
