Gold price update at the closing session on June 23rd: Reduced by another 1.6 million VND/tael

SJC gold bar price

As of 6:25 PM, Phu Quy Jewelry Group listed SJC gold bar prices at 144-147 million VND/tael (buying - selling), down 1.5 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

SJC gold bar price was listed by DOJI at 144-147 million VND/tael (buying - selling), down 1.6 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 143.5-147 million VND/tael (buying - selling), down 900,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3.5 million VND/tael.

9999 gold ring price

As of 6:25 PM, Phu Quy Gold and Gems Group listed the price of gold rings at 144-147 million VND/tael (buying - selling), down 1.2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

DOJI listed gold ring prices at 144-147 million VND/tael (buying - selling), down 1.6 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 143.5-147 VND/tael (buying - selling), down 900,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3.5 million VND/tael.

World gold price

At 6:35 PM, world gold prices were listed around the threshold of 4,123.8 USD/ounce, down 79.4 USD compared to the previous day.

Gold price forecast

World gold prices are under pressure as the USD rebounds sharply, as the market adjusts expectations for the monetary policy of the US Federal Reserve (Fed). Investors increasing the possibility of the Fed maintaining high interest rates for longer has reduced the attractiveness of non-profit precious metals.

According to analysts, although gold is still supported by safe-haven demand in the context of geopolitical instability, the factors determining the medium and long-term trend are still US monetary policy, the diễn biến of the USD and US government bond yields.

Mr. Ricardo Evangelista - an analyst at ActivTrades - said that the rise of the USD and a tougher view from the Fed are putting pressure on gold prices. According to him, in the near future, investors will continue to closely monitor signals from the Fed, especially the possibility of interest rate adjustments.

After the recent meeting, the market increased bets on the possibility that the Fed may raise interest rates again if inflation persists. The yield of 10-year US government bonds remains around the high zone, increasing the opportunity cost when holding gold.

In addition, developments in the energy market are also affecting gold prices. Oil prices cooled down after positive signals from US-Iran talks, helping to reduce concerns about inflationary pressures. However, geopolitical risks have not completely disappeared, causing defense needs to remain present.

Ms. Suki Cooper - an analyst at Standard Chartered - said that the market once expected the $4,000/ounce zone to be an important support point for gold after signs of cooling down tensions, but sentiment quickly changed as the USD strengthened and investors increased selling activity.

Meanwhile, Morgan Stanley assesses that the long-term outlook for gold is still positive, but capital inflows into gold ETFs will be a key factor. According to experts at this bank, if ETF cash flow has not recovered strongly, the goal of higher gold prices in the second half of the year will face many challenges, because ETF demand is sensitive to interest rate expectations, real yields and the strength of the USD.

In the basic scenario, some financial institutions still believe that gold may establish new high price zones if the Fed switches to policy easing. However, if the market continues to value the possibility of interest rates remaining high or more interest rate hikes appear, gold prices may face adjustment pressure.

In the short term, investors are waiting for US economic data, especially the Personal Consumption Expenditure (PCE) index - an inflation measure closely monitored by the Fed - to find more clues about the direction of monetary policy.