Global gold prices fell ahead of the US presidential election

SJC gold bar price fell from 90 level million dong/tael

Convert according to the exchange rate indicated at the bank and the world gold price has decreased by 1.6 million VND/tael in the last two days and is equivalent to only 83.93 million VND/tael tael.

Global gold prices fell sharply after rising sharply over the past three weeks, with a total increase of 177 USD/ounce, equivalent to 5.43 million VND/tael.

The US presidential election will take place early next week. Analysts believe that if Donald Trump or Kamala Harris win the election, concerns about the federal budget deficit will also increase. Investors massively sold US Treasury bonds before the elections.

The value of the US dollar has also increased as this currency also strengthens its role as a safe investment channel in the context of the upcoming elections.

Many experts predict that global gold prices will continue to decline next week, even below 2.700 USD/ounce.

Today, November 2, SJC company listed the selling price of gold bars at 11 million VND/tael, purchasing 89.5 million VND/tael.

At the same time, the sale price of 9999 SJC brand gold rings sold by SJC company also decreased to 88.9 million VND/tael, with a purchase amount of 87.4 million VND /tael.

At Bao Tin Minh Chau Company, the selling price of gold rings decreased to 88.98 million VND/tael, and the purchase price to 87.98 million VND/tael.

Likewise, DOJI company also reduced the sale price of 9999 gold rings to 89 million VND/tael, purchasing 88 million VND/tael.

Next week, will global gold prices fall further?

Compared with the world converted gold price, the domestic gold price is 5.57 million VND/tael higher. This gap tends to widen due to the sharp drop in global gold prices.

Meanwhile, the price of gold rings is 5.07 million VND/tael higher than the world converted gold price.

According to analysts, gold prices continue to fluctuate unpredictably. It is likely that the global gold price will fall below 2.700 USD/ounce before starting to rise again.

However, in the long term, gold’s trend remains upward as there are still factors that drive gold prices, such as the upcoming US presidential election, the US Federal Reserve (Fed) about to further reducing interest rates and war in Russia and Ukraine. continues.