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Gold price on November 20, 2021: Gold buyers lost nearly 3 million dong/tael after 3 days

Gold price on the morning of November 20 continued to decline in both the world and in the country when the dollar increased.

On the morning of November 20, the price of gold bars in the country went down in the same direction as the world. Saigon Jewelry Company - SJC listed the buying price of gold bars at 59.4 million dong/tael and selling it at 60.5 million dong/tael, down 300,000 dong compared to the end of yesterday. 

However, compared to the previous 24 hours, each SJC gold bar lost 1.3 million dong/tael. At the same time, the difference between the buying and selling prices of SJC has been pushed up to 1.1 million dong/tael instead of only 700,000 dong/tael as at the beginning of this week. Compared to the highest selling price of SJC's gold at 62.3 million dong/tael at noon on November 17, after nearly 3 days, buyers lost nearly 3 million dong/tael.

Gold price in the morning of November 20 fell back to jade

World gold price at the end of the week went down to 1,845.5 USD/ounce, down 12 USD compared to yesterday, equivalent to 50.6 million VND/tael. Domestic gold is still nearly 10 million dong/tael higher than the world. International gold prices fell to a 1-week low as the dollar strengthened after a member of the US Federal Reserve Board of Governors, Christopher Waller, called for an early contraction of economic support measures. economy to help establish tighter monetary policy. 

Mr. Waller said the US central bank will speed up the reduction in bond purchases to have more flexibility to raise interest rates from near-zero levels today.

However, UBS analyst Giovanni Staunovo said that the Fed's announcement of a rate hike sometime next year will negatively affect gold, but there are still many uncertainties, many concerns about inflation to continue to support precious metals in this environment. 

Besides, the news that Austria will apply a nationwide blockade to deal with the new wave of Covid-19 infections and signs that Germany may do the same support the uptrend of the metal. precious type. Speaking on CNBC, analyst Ole Hansen at Saxo Bank said that the blockade in Europe will help provide new impetus for gold prices...

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