Gold price early this morning flew nearly 1 million VND per tael

Gold price today November 15 in domestic market

Saigon Jewelry Company listed the price of SJC gold bars at 80 - 83.5 million VND/tael, down half a million VND/tael compared to early this morning.

Other gold trading enterprises such as Bao Tin Minh Chau Company, Phu Quy Gold Company, and Doji Group also adjusted the price down by half a million VND/tael to 83.5 million VND/tael.

The price of gold rings was also adjusted down by businesses from 500,000 VND to nearly 1 million VND/tael depending on the brand. Bao Tin Minh Chau Company listed the price of gold rings at 80.42 - 82.42 million VND/tael for buying and selling, down 760,000 VND/tael compared to early this morning.

This shows that the current gold price is plummeting. According to experts, the gold price is unpredictable, so people should be cautious in buying and selling. Investors should diversify their business portfolio instead of choosing only gold investment channels, because the risk level of gold is high.

Gold price today November 15 on the world market

Updated information from Petrotimes: World gold prices today, November 15, continued to decline sharply after the re-election of Donald Trump as US President, which reduced concerns about war in some countries and the increase in the value of the USD, making gold less attractive.

Surveying the markets a week after Trump’s victory, Nicky Shiels, Head of Metals Research & Strategy at MKS PAMP, said market sentiment has been affected with the SPX at $6,000, Bitcoin aiming for $100,000, the US dollar rising, while the value of commodities and precious metals has plummeted.

The greenback and US bond yields both rose sharply after a report from the US Labor Department showed that the country's consumer prices rose as expected in October.

Specifically, the US CPI in October increased by 0.2% compared to September, equal to the previous forecast. The core CPI in October calculated by month after deducting food and energy prices increased by 0.3%, equal to the previous month's increase and the forecast.

However, the latest report also showed a slow pace towards the inflation target, raising concerns that the US Federal Reserve (Fed) may cut interest rates less next year.

The consumer price data had a mixed impact on gold prices, according to Zain Vawda, a market analyst at OANDA. After the report, the market increased bets on the possibility of the Fed cutting interest rates by 25 basis points in December. According to CME's FedWatch tool, traders are now pricing in an 82% chance of a December rate cut, up from about 58% before the data.

Some investors believe the start of a new presidential term could prompt the Fed to pause its easing cycle if inflation spikes following the expected new round of tariffs.

Today, the US economy continues to announce the October producer price index (PPI). Currently, the US PPI forecast for October increased by 2.3% compared to the same period last year, much higher than the increase of 1.8% in September.

If CPI and PPI increase, the Fed will have to raise interest rates again to control inflation. This will put pressure on gold, because the USD continues to rise, causing the cost of trading and storing gold to increase.