Gold price in Nghe An today (November 24): Slight increase in selling price

Early morning of November 24 (Vietnam time), the spot gold price on Kitco floor was at 2,716.3 USD/oz. Converting the world gold price according to the foreign exchange rate at Vietcombank on November 24, the world gold price is equivalent to 83.48 million VND/tael.

Domestically, opening the trading session on November 24, SIC gold bar price was listed at 85 million VND/tael for buying; 87 million VND/tael for selling. The difference between buying and selling price of gold bars was 2 million VND/tael.

At the same time, the price of gold rings was listed at 85 - 85.60 million VND/tael (buy) and 86.5 - 86.6 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 84.70 million VND/tael (buy) and 88.50 million VND/tael (sell); Duc Tai Tam Dat Gold and Silver (Quynh Luu) 84 million VND/tael (buy) and 87.80 million VND/tael (sell); Nhu Trinh Gold and Silver 84.10 million VND/tael (buy) and 87.90 million VND/tael (sell);... Thus, compared to the national price level, the price of gold rings in Nghe An is 1.2-1.5 million VND/tael higher in the selling direction.

According to market developments, people still have no need to sell and buying is also limited. "Many people refer to the analysis of world gold price fluctuations, according to which, it will reach 2,800 USD/oz by the end of this year. Therefore, most people who want to buy - sell to store or take profit are hesitant", said Mr. Vu Xuan Thuy, an employee of a gold shop on Tran Phu Street.

According to analysts, the world gold price has been continuously increasing as investors seek safe havens amid increasing geopolitical instability and escalating tensions between Russia and Ukraine. On the other hand, US President-elect Donald Trump's tax proposals could cause volatility in the global market, put pressure on inflation, and limit the ability of major central banks to loosen monetary policy.

ANZ Bank believes that if the US pauses its interest rate cuts in December, it could curb gold prices in the short term. However, macroeconomic, geopolitical and consumer demand uncertainties will maintain positive sentiment in the global gold market.

Thanh Phuc