Gold Prices Today, November 5: Global Market Drops Sharply
Global spot gold prices in the Asian market at 6:30 AM on November 5 (Vietnam time) were trading around USD 3,937/ounce, down USD 58/ounce compared to the previous session.
Spot gold in the U.S. market closed early this morning (Vietnam time) at around USD 3,931/ounce, plunging USD 69/ounce from the prior session.
According to Kitco News, gold fell in the U.S. session as a stronger U.S. Dollar Index pressured the precious metal. A broad selloff in global stock markets and rising risk aversion failed to boost safe-haven demand for gold. However, analysts noted it would not be surprising if gold rebounds as selling pressure in equities intensifies on Tuesday or Wednesday.
Experts believe short-term momentum in the gold market is shifting, and prices could stabilize in the final two months of 2025.
In an interview with Kitco News, Aakash Doshi, Head of Gold Strategy at State Street Investment Management, said he expects gold to remain stable below the USD 4,000/ounce resistance level from now until the end of 2025.
“If we look at the next 12 months, this rally isn’t over, but we may see around eight weeks of consolidation. This is a healthy pullback within a long-term bull market. November and December are typically not strong months for gold, so it is difficult to expect another rally this year. But I anticipate new record highs in the first quarter of 2026,” Doshi noted.
Although ETF outflows may deepen seasonal trends after the August–September rally driven by FOMO, Doshi believes any correction will be shallow because the market still has significant underlying support.
“If I had to predict future gold prices between USD 3,000/ounce or USD 5,000/ounce while we are currently in the USD 4,000 range, I would lean toward USD 5,000,” he added.
Doshi also pointed out that data from the World Gold Council shows physical gold demand has hit record levels—even at historically high prices. Investors remain comfortable buying at elevated levels as they still see value in the market.
Domestic Gold Prices Turn Lower
As of 6:30 AM today (November 5), domestic SJC gold bars and gold rings sharply retreated compared to the previous session.
DOJI (Hanoi & HCMC):
146.2 – 148.2 million VND/tael (buy – sell)
Down 800,000 VND/tael on both sides.
Buy–sell spread: 2 million VND/tael
Bảo Tín Minh Châu (SJC):
147.2 – 148.2 million VND/tael
Buy price down 300,000 VND/tael, sell price down 800,000 VND/tael
Spread: 1 million VND/tael
Phú Quý (SJC):
145.2 – 148.2 million VND/tael
Buy price down 1.3 million VND/tael, sell price down 800,000 VND/tael
Spread: 3 million VND/tael
For gold rings:
Vàng Rồng Thăng Long – Bảo Tín Minh Châu:
145.7 – 148.7 million VND/tael
Down 800,000 VND/tael on both buy and sell
Spread: 3 million VND/tael
DOJI Hưng Thịnh Vượng 9999 – Hanoi:
145 – 148 million VND/tael
Down 500,000 VND/tael on both sides
Spread: 3 million VND/tael
Phú Quý (999.9 gold rings):
145.2 – 148.2 million VND/tael
Down 800,000 VND/tael on both sides
Spread: 3 million VND/tael
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