Gold price update at the closing session on June 19: Reduced by another 4.8 million VND/tael

SJC gold bar price

As of 5:50 PM, SJC gold bar prices were listed by DOJI at the threshold of 142.5-146.5 million VND/tael (buying - selling), down 4.8 million VND/tael on the buying side and down 3.8 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 4 million VND/tael.

SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 142.5-146.5 million VND/tael (buying - selling), down 4.8 million VND/tael on the buying side and down 3.8 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 4 million VND/tael.

Phu Quy Jewelry Group listed SJC gold bar prices at 143.7-146.7 million VND/tael (buying - selling), down 5.1 million VND/tael on the buying side and down 4.6 million VND/tael on the selling side. The difference between buying and selling prices is at 3 million VND/tael.

9999 gold ring price

As of 6:00 PM, DOJI listed gold ring prices at the threshold of 142.5-146.5 million VND/tael (buying - selling), down 4.8 million VND/tael on the buying side and down 3.8 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 4 million VND/tael.

Bao Tin Minh Chau listed gold ring prices at the threshold of 142.5-146.5 million VND/tael (buying - selling), down 4.8 million VND/tael on the buying side and down 3.8 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 4 million VND/tael.

Phu Quy Gold and Gems Group listed the price of gold rings at 143-146.5 million VND/tael (buying - selling), down 3.3 million VND/tael on the buying side and down 3.8 million VND/tael on the selling side. The difference between buying and selling prices is at 3.5 million VND/tael.

World gold price

At 5:55 PM, world gold prices were listed around 4,150.2 USD/ounce, down 108.9 USD compared to the previous day.

Gold price forecast

World gold prices continued to face downward pressure in the last session of the week, as the USD strengthened and expectations of the US Federal Reserve (Fed) maintaining a tougher stance. The precious metal is heading towards its third consecutive week of decline, amid investors adjusting interest rate expectations after the latest Fed policy meeting.

The biggest pressure on gold today comes from the USD and US bond yields. As the greenback appreciates, gold becomes more expensive for investors holding other currencies. Along with that, prolonged high interest rate prospects reduce the attractiveness of gold - an asset that does not yield yields.

According to Mr. Nikos Tzabouras - senior market analyst at Tradu. com, gold prices are facing the risk of falling further, even retreating below the $4,000/ounce mark if the current environment does not improve. He believes that the expectation that the Fed will keep interest rates high for a long time is a disadvantage for gold, while supporting the USD.

However, the developments of gold in the short term still depend heavily on US economic data and geopolitical signals. Investors will pay special attention to inflation data, the last Q1 GDP of the US, the Personal Consumption Expenditure (PCE) index and preliminary PMI data in the coming week. These indicators may directly affect interest rate expectations, thereby affecting gold trends.

From a technical perspective, the 4,000 USD/ounce zone continues to be considered an important support threshold. Mr. Ole Hansen - Commodity Strategy Director at Saxo Bank - said that market sentiment is unlikely to improve significantly if gold prices have not regained their upward momentum. According to him, the 200-day moving average line is still a key area, making many trend-following investors not in a hurry to return to buying.

Meanwhile, some experts believe that the current correction is not enough to deny the long-term upward trend of gold. Mr. Simon-Peter Massabni - Business Development Director at XS. com - assessed that the market is entering a period of stronger volatility rather than forming a clear trend.

According to him, factors such as persistent inflation, increased US public debt and the central bank's demand for gold reserves are still medium and long-term support for precious metals.