On November 25, gold prices experienced a significant increase in both local and international markets. At 3:30 PM, the Saigon Jewelry Company (SJC) listed its gold prices at 150.9 million VND for buying and 152.9 million VND for selling, marking a rise of 2.5 million VND from the previous closing. The buy-sell spread was recorded at 2 million VND.
Gold Price Movements
According to VDOS, at the same time, the SJC 9999 gold ring was priced at 148.5 million VND for buying and 151 million VND for selling, also showing a 2.5 million VND increase on both fronts. In Hanoi and Ho Chi Minh City, the DOJI gold prices mirrored those of SJC, with a buy price of 150.9 million VND and a sell price of 152.9 million VND.
DOJI’s 9999 gold ring was listed at 148.7 million VND for purchasing and 151.7 million VND for selling, increasing by 2.6 million VND. PNJ reported similar figures, with its gold buy price at 148.7 million VND and the sell price at 151.7 million VND, which is also a 2.6 million VND hike.
International Gold Prices
As of the specified time, global gold prices soared by 80.2 USD/ounce, reaching 4,144.4 USD/ounce. This surge was attributed to expectations surrounding a potential interest rate cut by the Federal Reserve (Fed) in December. John Williams, President of the New York Fed, indicated last week that interest rates might lower “in the short term” without jeopardizing the Fed’s inflation goals, spurring investor speculation about a possible rate cut next month.
Market Influences and Predictions
Gold prices are sensitive to changes in U.S. interest rates. A drop in rates tends to weaken the U.S. dollar while increasing the appeal of non-yielding assets like gold. Additional factors supporting gold’s recovery include demand from central banks and exchange-traded funds (ETFs). In September, central banks acquired 64 tons of gold, three times the amount purchased in August.
UBS has recently upgraded its gold price forecast for 2026 to 4,500 USD/ounce. Investors are now closely watching economic indicators, including retail sales, unemployment claims, and the producer price index (PPI), which are set to be released over the weekend, alongside future announcements from the Fed for clearer market direction.
Additional Market Insights
- USD-Index fell to 100.15 points.
- Ten-year U.S. Treasury yield stood at 4.036%.
- U.S. stock markets are trending upwards due to expectations of Fed interest rate cuts.
- Global oil prices decreased slightly, with Brent trading around 62.23 USD/barrel and WTI at 58.37 USD/barrel.
As the market evolves, fluctuations in gold prices will remain influenced by interest rate discussions and overall economic data, impacting investor sentiment significantly.
