Gold prices on November 26th: SJC gold price drops by 200,000 VND, global prices retreat from peak.
On the morning of November 26th, domestic gold prices reversed course and fell after a series of sharp increases. World gold prices are currently trading around $4,480 per ounce due to profit-taking pressure.
The domestic gold market recorded a simultaneous downward correction during the morning session of November 26th. After a series of impressive price increases, both SJC gold bars and gold rings reversed course and fell, following the trend of the international market as profit-taking pressure increased.
Trends in domestic gold bar prices
This morning, major gold trading businesses adjusted their prices down by 200,000 VND/ounce for both buying and selling compared to the previous session. Specifically, the listed prices for gold bars at these establishments are as follows:
| Trademark | Buying price (million VND/ounce) | Selling price (million VND/ounce) |
|---|---|---|
| SJC, DOJI, PNJ, Bao Tin Minh Chau | 156.8 | 158.8 |
| Phu Quy | 155.8 | 158.8 |
For gold rings, there was slight divergence in price among brands. Bao Tin Minh Chau gold rings decreased by 200,000 VND/ounce, currently trading at 155.3 - 158.3 million VND/ounce. Meanwhile, Phu Quy recorded the sharpest decrease of up to 300,000 VND/ounce, bringing the price of gold rings down to 154.5 - 157.5 million VND/ounce. Other units such as SJC, DOJI, and PNJ maintained stable prices from the previous session.
Global temperatures cool down after reaching historical peaks.
On the international market, in the early hours of November 26th (Vietnam time), the price of gold fluctuated around $4,480 per ounce. This price has fallen significantly from the historical peak of $4,520 per ounce set just a few hours earlier.
Based on the Vietcombank exchange rate (excluding taxes and fees), the current world gold price is equivalent to approximately 142.5 million VND per tael. Thus, the gap between the domestic and international prices of SJC gold bars remains high, at 16.3 million VND per tael.
Market trend analysis and forecasting
Jim Wyckoff, senior analyst at Kitco Metals, believes the market is entering a consolidation phase. Profit-taking by investors after a series of strong gains is the main reason for the price cooling down. However, the low interest rate environment from the US Federal Reserve (Fed) and geopolitical uncertainties remain important support for precious metals in the medium term.
Notably, JP Morgan recently issued an optimistic forecast for the coming period. According to this financial institution, strong demand from ETFs, central banks, and new capital inflows from the Chinese market could push gold prices above $5,000 per ounce by the end of 2026. Despite the positive long-term outlook, experts still advise short-term investors to exercise caution, as the market needs more time to establish new sustainable upward price momentum.