Global gold prices fell as investors took profits.

Global gold prices ended the trading session on November 11th with significant volatility as investors took profits at high prices amid expectations of a swift reopening of the US government. The precious metals market experienced a volatile session, fluctuating sharply between safe-haven buying and short-term profit-taking selling pressure.

On the international market, December gold futures fell 0.14% to $4,116.30 per ounce.

On the Merchandise Exchange (MCX), December gold futures fell 0.05% to $4,374 per ounce. Gold prices had risen sharply at the start of the session, but profit-taking pressure narrowed those gains early on.

Gold prices fell from a three-week high due to news that the US government is about to resume operations and global stock markets recovered. However, expectations of a Fed interest rate cut and the weakening of the US dollar continue to support the long-term upward trend in gold prices.

According to experts, gold prices have maintained strong support around $3,870 and have surpassed the psychological threshold of $4,100 per ounce, indicating that the upward trend still has potential.

This week, gold prices are expected to fluctuate within the range of $3,960 - $4,220 per ounce. In the short term, gold has support at $4,084 - $4,050 and resistance at $4,154 - $4,180.

In the MCX market, gold prices may find support at $4,330 - $4,302 per ounce and encounter resistance at $4,394 - $4,430 per ounce.

Analysts recommend a "buy-on-dips" strategy, buying on price corrections. Investors can buy gold around $4,354 per ounce with a stop-loss at $4,316 per ounce, and a target of $4,422 per ounce.

According to expert Manoj Kumar Jain, in the current volatile environment, this strategy helps investors capitalize on upward trends while controlling risk.

Domestically, as of 11:30 AM, the price of SJC gold bars at DOJI Group, SJC, PNJ, and ACB gold bars was listed at 150-152 million VND/ounce for buying and selling, unchanged in both directions.

The price of SJC gold bars at Bao Tin Minh Chau and Mi Hong is listed at 150.5-152 million VND/ounce (buy - sell), remaining unchanged in both directions.

Phu Quy Gold, Silver and Gemstone Group listed the price of SJC gold bars at 149-152 million VND/ounce for both buying and selling, unchanged from yesterday.

For 9999 gold rings, as of 11:30 AM, DOJI Group listed the price of 9999 Hung Thinh Vuong round gold rings at 148.5-151.5 million VND/ounce (buying price - selling price), unchanged in both directions compared to yesterday.

Bao Tin Minh Chau listed the price of plain 9999 gold rings at 149.3-152.3 million VND/ounce, unchanged in both buying and selling prices compared to yesterday.

The price of Phu Quy 9999 pure gold rings is at 148.7-151.7 million VND/ounce (buying price - selling price), unchanged in both buying and selling directions compared to yesterday.

The spread between buying and selling gold at stores is currently high, ranging from 1.5 to 3 million VND per tael, increasing the risk for individual investors. Investors with a speculative mindset should carefully consider their options before investing.