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Domestic gold prices
In the domestic market, the systems of Saigon Jewelry, Bao Tin Minh Chau and the Phu Quy system, SJC … still fluctuate according to the upward trend of the market. Specifically, the buying and selling prices of these companies increased slightly in the range of 20,000 to 100,000 VND / tael. Currently, the domestic gold price is the highest at 56.49 million dong / tael.
In the first session of November, Saigon Jewelry Company quoted the purchase price of gold at VND 55.90 million / tael; the selling price was 56.49 million dong / tael, a slight increase of 100,000 dong / tael in the buy and sell directions compared to the previous session. The difference in the sale price is still higher than the purchase price of around VND 500,000 / tael.
Bao Tin Minh Chau Company quoted the SJC gold price at 55.83 – 56.11 million dong / tael (buy for sale). The price of the Thang Long Dragon Gold brand is between 53.35 and 53.99 million VND / tael (buy on sale).
At the same time, DOJI Group quoted the gold buy-sell price at 55.80 – 56.20 million dong / tael, 50,000 dong / tael more in the buy direction and 50,000 dong / tael in the sell direction at compared to the previous session. The difference between the buying and selling price of gold is currently 400,000 dong / tael.
The SJC Phu Quy system recorded the price of gold at 55.85 – 56.22 million dong / tael, 50,000 dong more than in the previous session.
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| Gold price today 1/11: gold suddenly turned around, investors are cautious |
World price of gold
In the global gold market, precious metals are under selling pressure because investors sell gold to offset losses and pressure from margin contracts to buy gold earlier. Gold prices rose and fell dramatically as the stock exchanges of Europe, Japan and the United States continued to “red” on the floor. This situation has forced many investors to sell gold to make up for equity losses.
Furthermore, the fall in gold prices was also due to the sudden rise in the USD as the currency became a haven for storms in the context of fluctuating financial and commodity markets. Analysts predict that in the context of the epidemic that still has a strong influence, the United States will inject more money into the economy and continue to support businesses and consumers. This means that in the long term, the dollar will weaken, creating momentum for gold prices to skyrocket in the near future.
Along with that, the market still has long-term supportive momentum for the gold price. Today, many investors are more cautious and wait for US election information to make the most reasonable business decisions.
Gold prices appear to be trending up, but appear fairly stable below the $ 1,900 / ounce resistance. The latest results from Kitco News’ survey of the weekly gold market show that retail investors are being much more cautious as electoral uncertainty is overwhelming.
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