World gold prices rose by more than 2%.
World gold prices rose more than 2% today, recovering after falling to a one-year low in the previous session.
Spot gold prices rose 2.1% to $3,954.41 per ounce, after falling 3.6% in the previous session and touching their lowest level since October 2025, according to Reuters. December gold futures also rose 1.8% to $3,969.6 per ounce. The recovery followed a sharp sell-off in the precious metals market, when gold fell 3.6% to its lowest level in more than a year.
One of the factors supporting gold at the start of the week was the movement of oil prices. The drop in oil prices helped to alleviate some of the market’s concerns about the risk of prolonged inflation, thereby supporting gold prices.
Peter Grant, Vice President and Senior Strategist for Metals at Zaner Metals, believes that weaker oil prices have somewhat eased concerns about inflation. However, the market still expects the Fed to raise interest rates in December, although the probability of this has decreased slightly in recent sessions.
According to Grant, the US dollar is also providing some support for gold prices. Data from CME Group’s FedWatch tool shows that traders now forecast a 77% probability of the Fed raising interest rates in December, down from 80% a week ago.
The sharp drop in gold prices at the end of last week’s trading session occurred amidst selling pressure in the stock market, particularly in technology stocks and companies related to artificial intelligence ( AI ).
According to analysts, the wave of sell-offs in technology stocks has spread to other markets. Additional margin requirements have forced some investors to sell even assets traditionally considered safe havens, such as gold, to meet liquidity needs.
Following the sharp decline, technical indicators suggest that selling pressure on gold has somewhat eased. Gold’s 14-day Relative Strength Index (RSI), a commonly used indicator to assess overbought or oversold conditions, rose to around 37 on November 2nd, up from below 30 at the end of last week.
The RSI rising back above 30 suggests that gold has technically moved out of oversold territory, although this does not necessarily mean the downtrend has completely ended.
Domestic gold prices surge.
In the domestic market, gold prices continued to heat up today, with SJC gold bars uniformly increasing by 1.2 million VND/ounce, while the price of gold rings also surged sharply.
At SJC Company, the price of SJC gold increased by 1.2 million VND/ounce in both buying and selling directions, bringing the buying price to 138.2 million VND/ounce and the selling price to 141.2 million VND/ounce.
In Phu Quy, SJC gold bars surged by 1.2 million VND/ounce in both buying and selling prices, reaching 136.7 million VND/ounce for buying and 141.2 million VND/ounce for selling.
At Ancarat, the listed gold price is trading at 136.2 – 139.7 million VND/ounce.
The gold ring market continues to attract attention as all surveyed brands saw increases, although the magnitude of the adjustments varied. At SJC, gold rings increased by 1.2 million VND/ounce in both buying and selling prices, reaching 134 million VND/ounce for buying and 138 million VND/ounce for selling.
Phu Quy increased the price of gold rings by 1.2 million VND/ounce, currently listed at 136.7 million VND/ounce for buying and 139.7 million VND/ounce for selling.