Gold price update morning of June 21st: Unpromising forecast, facing the risk of decline

Khương Duy |

Gold price update morning of June 21st: Most Wall Street experts predict negatively about gold prices next week.

SJC gold bar price

As of 6:00 AM, 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.

Diễn biến giá vàng SJC những phiên giao dịch gần đây. Biểu đồ: Khương Duy
SJC gold price movements in recent trading sessions. Chart: Khuong Duy

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 6:00 AM, 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.

Giá vàng nhẫn trơn tại một số đơn vị kinh doanh. Đơn vị: đồng/lượng. Bảng: Khương Duy
Price of plain gold rings at some business units. Unit: VND/tael. Table: Khuong Duy

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.

Giá vàng miếng SJC và nhẫn trơn tại một số đơn vị kinh doanh. Đơn vị: đồng/lượng. Bảng: Khương Duy
SJC gold bar and plain ring prices at some business units. Unit: VND/tael. Table: Khuong Duy

World gold price

At 6:00 AM, world gold prices were listed around the threshold of 4,154.7 USD/ounce.

Diễn biến giá vàng thế giới những phiên giao dịch gần đây. Biểu đồ: Khương Duy
Developments in world gold prices in recent trading sessions. Chart: Khuong Duy

Gold price forecast

World gold prices have just experienced a week of strong fluctuations as safe-haven buying pressure due to tensions in the Middle East was quickly overwhelmed by selling pressure after the meeting of the US Federal Reserve (Fed).

Although the Fed kept interest rates unchanged in the range of 3.50%-3.75%, the signal still leaving open the possibility of interest rate hikes in 2026 has caused the USD and US bond yields to rise, thereby putting pressure on the precious metal.

During the week, gold prices at one point strongly increased to the 4,381.83 USD/ounce zone before reversing after a tough message from the Fed. Downward pressure continued to increase as the US and Iran reached a preliminary agreement to cool down the conflict and reopen the Strait of Hormuz. This development helped oil prices cool down, weakening part of the safe-haven demand for gold.

The latest weekly gold survey by a website specializing in precious metals shows that Wall Street sentiment has strongly leaned towards a negative trend. Among the 10 experts participating in the survey, only 1 person predicted gold prices would increase next week, 7 people thought prices would decrease and 2 people predicted the market would move sideways.

Meanwhile, individual investors are more optimistic as 54% of survey participants expect gold prices to increase.

Đồ họa: Khương Duy
Wall Street's forecast for gold prices next week. Graphics: Khuong Duy

Kevin Grady - Chairman of Phoenix Futures and Options - said that the 4,000 USD/ounce zone is still an important psychological support threshold for gold. However, he believes that if buying pressure does not return clearly, the market may retest the recent bottom, even next week. According to this expert, market liquidity is quite weak, showing that investors are not really ready to bottom-fish.

Sharing the same cautious view, Alex Kuptsikevich - senior analyst at FxPro - predicts gold prices may fall next week. He believes that the previous recovery momentum has weakened under the impact of the Fed's tough stance and the wave of buying the USD. According to him, retesting the $4,000/ounce mark next week is not a surprising scenario.

In the opposite direction, Rich Checkan - Chairman and CEO of Asset Strategies International - said that the recent decline was somewhat excessive. He still expects gold prices to rise if the peace process in the Middle East continues to have more positive signals.

Gold price data is compared to the previous day.

See more news related to gold prices HERE...

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