Gold price today 22.6: Domestic gold reverses direction and surges

SJC gold bar price

As of 12:42 PM, Phu Quy Jewelry Group listed SJC gold bar prices at 145-148 million VND/tael (buying - selling), an increase of 1.3 million VND/tael on the buying side and an increase of 800,000 VND/tael on the selling side. The difference between buying and selling prices is at 3 million VND/tael.

At the same time, SJC gold bar prices were listed by DOJI Group at the threshold of 145-148 million VND/tael (buying - selling), an increase of 800,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

Bao Tin Minh Chau listed SJC gold bar prices at the threshold of 144.2-147.7 million VND/tael (buying - selling), an increase of 500,000 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 3.5 million VND/tael.

9999 gold ring price

As of 12:42 PM, Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 144.7-147.7 million VND/tael (buying - selling), an increase of 1.7 million VND/tael on the buying side and an increase of 1.2 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

DOJI Group listed gold ring prices at 145-148 million VND/tael (buying - selling), an increase of 800,000 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 gold ring prices at the threshold of 144.2-147.7 million VND/tael (buying - selling), an increase of 500,000 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 3.5 million VND/tael.

World gold price

At 12:42 PM, world gold prices were listed around the threshold of 4,194.1 USD/ounce, up 39.4 USD compared to the previous day.

Gold price forecast

World gold prices are forecast to continue to fluctuate strongly this week, as the market is simultaneously affected by the Fed's monetary policy, geopolitical developments in the Middle East and a series of important US economic data.

Mr. Adrian Day - Chairman of Adrian Day Asset Management - said that gold prices may not change much in the general trend but the fluctuation range will be large. According to him, the tough tone at the recent Fed meeting, along with the statements of Fed Chairman Kevin Warsh, surprised the market. Investors therefore need more time to assess whether the Fed will continue to maintain a tighter stance in the coming time or not.

This expert said that in the short term, the peace process in Iran, although still fragile, along with buying power from central banks and Tether, may help gold prices be supported in the low zone. However, this factor is not enough to create a clear upward trend if the USD and US bond yields remain high.

In the opposite direction, Mr. Rich Checkan - Chairman and CEO of Asset Strategies International - believes that the adjustment of gold in the past may have gone too far. According to him, if the negotiation process towards sustainable peace continues to be maintained, gold still has a chance to increase again, despite the policy orientation of the Fed.

This week, the market will closely monitor a series of US economic data, including preliminary PMI for June, new home sales in May, Q1 GDP data, weekly unemployment claims, orders for durable goods and especially the core personal consumer price index - the Fed's preferred inflation measure.

If the data shows that inflation is persistent or the US economy is still strong enough to withstand it, the expectation that the Fed will maintain high interest rates for longer may increase. At that time, gold will be under more pressure due to the USD and US bond yields being supported.

Conversely, if data sends signals of slowing growth and price pressure cools down, gold may recover thanks to expectations of policy easing returning. In the current context, the 4,000 USD/ounce zone continues to be considered an important psychological milestone for the market.