Global gold prices surge ahead of Thanksgiving holiday.

Gold prices surged to $4,159 per ounce at 4 PM on November 27th, $26 higher than the previous night's low. The gold market heated up on the final trading day before the US Thanksgiving holiday, as many investors left the market early, reducing liquidity, but bargain-hunting buying remained dominant.

Despite signs of slowing trading activity in the US, gold prices maintained their upward momentum as investors digested new economic data. Many traders took advantage of the holiday break to buy gold, helping the market maintain a steady upward trend throughout the session.

The recently released US economic reports present a mixed picture. Initial jobless claims fell by 6,000 from the previous week to 216,000, the lowest level since February and lower than the forecast of 225,000.

Conversely, the Chicago Business Index fell sharply to 36.3 in November 2025, lower than the expected 44.3 and marking the 24th consecutive month below 50. This indicates that the Chicago area economy continues to slow down.

New data on durable goods orders showed a 0.5% increase in September 2025, exceeding expectations of 0.3%, after a 3% increase in August. Some sectors experienced growth, while others weakened, making it difficult to determine a clear trend in the market.

These reports did not significantly alter predictions about the Fed's monetary policy. Traders remain leaning toward the possibility of the Fed continuing to cut interest rates at its December meeting, with a probability of around 80%.

Gold price forecast

In a recent interview on Bloomberg TV, Daan Struyven, head of oil research at Goldman Sachs, affirmed that the bank remains extremely optimistic about the trend in gold prices.

He predicted that gold prices could rise by nearly 20% by the end of 2026, reaching $4,900 per ounce, thanks to sustained buying from central banks and ETF inflows. Even small diversification from individual investors would be enough to create further strong upward momentum.

At $4,159 per ounce, the world gold price, converted to VND (including taxes and processing fees), is approximately VND 132.4 million per tael. Compared to the domestic gold price, the difference is around VND 21 million per tael, a notable high in recent weeks.

The US Dollar Index fell to 99.59 points this morning, creating more room for gold prices to rise.

The central exchange rate announced by the State Bank of Vietnam is 25,152 VND/USD, a slight increase of 5 VND. Within the permitted range, the exchange rate fluctuates between 23,894 and 26,410 VND/USD.

At the State Bank of Vietnam's exchange, the USD is quoted at 23,945 VND for buying and 26,359 VND for selling.

Major commercial banks such as VCB, BIDV, VietinBank, and Techcombank are trading around 26,159 - 26,409 VND/USD.

In the free market, the US dollar exchange rate in Hanoi this morning was 27,740 VND for buying and 27,820 VND for selling, reflecting a slight upward trend compared to the previous day.