Gold price in Nghe An today (November 20): Increased by nearly 2 million VND/tael
The world gold price skyrocketed, pushing up the domestic gold price. In Nghe An, the price of gold rings increased by nearly 2 million VND/tael compared to yesterday's trading session.
On the morning of November 20, the world spot gold price reached 2,628.09 USD/ounce, up 24.11 USD/ounce compared to the previous session. Converted at the current exchange rate, the international gold price is about 82.59 million VND/tael (excluding taxes and fees).
Domestically, SJC gold price is listed at 83 - 85 million VND/tael (buy - sell). Meanwhile, SJC gold ring price fluctuates at 83.5 - 83.8 million VND/tael (buy) and 84.40 - 84.80 million VND/tael (sell).
In Nghe An, opening the trading session this morning, 9999 gold rings were listed by gold shops as follows:
Kim Thanh Huy gold and silver is 83.5 million VND/tael (buy) and 86.50 million VND/tael (sell).
Duc Tai Tam Dat Gold and Silver (Quynh Luu) 83.20 million VND/tael (buy) and 85.80 million VND/tael (sell).
Nhu Trinh Gold and Silver 82.80 million VND/tael (buy) and 85.60 million VND/tael (sell);…
Thus, compared to the national price level, the price of gold rings in Nghe An is 1.5 - 2 million VND/tael higher in the selling direction.
According to analysis, the strong rebound in gold prices is due to the following factors: The weakening of the USD makes gold more attractive to international buyers; Forecast of interest rate cuts from the Fed, according to Reuters, there is a 58.8% chance that the Fed will cut interest rates in December, creating positive momentum for the gold market; The tense geopolitical situation, Russia's airstrikes in Ukraine and military support from the US have increased the demand for safe haven gold.
Experts recommend that although gold prices may continue to fluctuate in the short term, this is a good time to consider buying and accumulating. With the context of economic and political instability in the world, gold is still a safe investment channel, helping to preserve asset value.
Accordingly, when gold is at the support level: 2,600-2,584 USD/ounce (suitable area to buy) and the resistance level: 2,634-2,650 USD/ounce (possible selling area).