Gold price update at the close of June 20th: Slight recovery

SJC gold bar price

As of 5:50 PM, Phu Quy Jewelry Group listed SJC gold bar prices at 143.7-147.2 million VND/tael (buying - selling), unchanged in the buying direction and increased by 500,000 VND/tael in the selling direction. The difference between buying and selling prices is at 3.5 million VND/tael.

SJC gold bar price was listed by DOJI at the threshold of 144.2-47.2 million VND/tael (buying - selling), an increase of 1.7 million VND/tael on the buying side and an increase of 700,000 VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 143.7-147 VND/tael (buying - selling), an increase of 1.2 million VND/tael on the buying side and an increase of 500,000 VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3.3 million VND/tael.

9999 gold ring price

As of 5:50 PM, Phu Quy Gold and Gems Group listed the price of gold rings at 143-146.5 million VND/tael (buying - selling), unchanged in both buying and selling directions. The difference between buying and selling prices is at 3.5 million VND/tael.

DOJI listed gold ring prices at the threshold of 144.2-47.2 million VND/tael (buying - selling), an increase of 1.7 million VND/tael on the buying side and an increase of 700,000 VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

Bao Tin Minh Chau listed gold ring prices at the threshold of 143.7-147 VND/tael (buying - selling), an increase of 1.2 million VND/tael on the buying side and an increase of 500,000 VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3.3 million VND/tael.

World gold price

At 5:50 PM, world gold prices were listed around the threshold of 4,154.7 USD/ounce, slightly up 4.5 USD compared to the previous day.

Gold price forecast

Short-term gold price forecasts continue to be strongly affected by US monetary policy. After the latest meeting, the US Federal Reserve (Fed) kept interest rates unchanged in the 3.50-3.75% range, but a tougher message from Fed Chairman Kevin Warsh caused the market to adjust expectations. Instead of discussing much about the possibility of interest rate cuts, investors are considering the risk that the Fed may raise interest rates in 2026.

This development is disadvantageous for gold, because high interest rates and bond yields increase the opportunity cost of holding unprofitable precious metals. Stronger USD and 10-year US Treasury bond yields around 4.4% are also creating more pressure on gold prices.

According to Mr. Laurence Booth - Global Market Director at CMC Markets, the current decline in gold is more like a risk-reducing process than a panicked sell-off.

He believes that the adjustment diễn biến is still quite orderly, although prices have decreased sharply in a few sessions. A more noteworthy point is that physical demand in some large markets, including China, shows less positive signs, causing gold to lack additional supporting momentum.

In the opposite direction, geopolitical risks have not completely disappeared. The Strait of Hormuz continues to be a hotspot to monitor, although commercial transport has somewhat resumed after the memorandum of understanding between the US and Iran.

Cooling oil prices help reduce inflationary pressure, thereby weakening the demand for gold safeguards. However, this shipping route is not completely normal due to security risks, transport disruptions and backlogs, so shelter buying power has not completely disappeared.

In the long term, Mr. Axel Merk - founder of Merk Investments - believes that investors should not see gold only through the lens of interest rates. According to him, a Fed that favors anti-inflation may create a short-term resistance, but also help reduce policy volatility. At that time, the market may pay more attention to gold supporting factors such as budget deficit, increased public debt and the need to preserve purchasing power.

In the coming week, the market will monitor a series of US economic data, including preliminary PMI of manufacturing - services, PCE index, unemployment claims, last Q1 GDP, durable goods orders, personal income and spending. These figures may determine the next direction of the USD, bond yields and gold prices.