Update on gold price today (November 24): As of 5:00 p.m., domestic gold price increased to 70.9 - 71.8 million VND/tael (buy - sell). Meanwhile, world gold price listed on Kitco is at 1,994.4 USD/ounce.
Domestic gold price
Domestic gold price developments
World gold price developments
Although gold remains stuck below $2,000 an ounce, some analysts remain optimistic that an all-time high is achievable by year-end or into the new year.
Analysts do not expect to see much upside for the rest of the week as most traders are currently focused on US Thanksgiving and Black Friday shopping.
Entering the holiday season, the gold market could not maintain its new gains above $2,000/ounce as the market continued to review the minutes of the US Federal Reserve's November monetary policy meeting, released on November 21.
Although the central bank kept interest rates unchanged at its latest meeting, the minutes showed the committee maintained a hawkish stance as it expected to keep rates on a tight leash for the foreseeable future.
Nicky Shiels, head of metals strategy at MKS PAMP, said that over the past five years, gold has seen an average gain of 2.7% from Thanksgiving to December 31.
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