Highly volatile and unpredictable.

On Sunday morning, June 16th, the price of SJC gold bars remained unchanged at 76.98 million VND/ounce at banks and SJC company. The buying price of gold bars at SJC company was 74.98 million VND/ounce.

This price has remained stable for over a week, as the State Bank of Vietnam maintained the same selling price for gold bars to the four state-owned commercial banks and SJC company.

Meanwhile, the price of 24K gold rings and jewelry increased compared to last week. Currently, gold rings are trading around 73.4 million VND/ounce for buying and 75 million VND/ounce for selling, an increase of 800,000 VND/ounce compared to the end of last week.

Today's gold price is difficult to predict, according to both analysts and international investors.

Gold ring prices rose in line with the strong recovery of the international market. Gold prices on the international market closed the trading week at $2,332 per ounce, an increase of approximately $40 per ounce compared to the end of the previous week.

This represents a fairly strong recovery for the precious metal after the sell-off that saw it lose more than $90 per ounce last weekend, pushing gold prices below the $2,300 per ounce mark.

However, the trend for gold prices next week is not easy to predict. According to Kitco 's survey on gold price trends today, among 13 analysts surveyed on Wall Street, only 23% predicted a rise in gold prices, 15% predicted a fall, and 62% remained neutral – suggesting gold prices could continue to trade sideways.

Similarly, in an online survey on Main Street, 216 investors participated, with 23% predicting a further increase in gold prices, 23% believing prices would fall, and a remarkable 54% forecasting prices would remain stable.

SJC gold bar prices remained stable last week.

According to analysts, the market is awaiting information on monetary policy decisions from European countries, as central banks in Switzerland, the UK, and other countries will announce their monetary policy decisions next week.

In the US, new information about slowing inflation could help the Federal Reserve (FED) begin cutting interest rates in September. Gold prices also rose at the end of last week's trading session despite the US dollar index rising to 105.5 points.

Currently, the world gold price, converted at the listed exchange rate, is approximately 71.6 million VND/ounce, about 5.3 million VND/ounce lower than SJC gold bars and about 3.3 million VND/ounce lower than gold rings. The price difference between SJC gold bars and the world market has narrowed considerably compared to the record high of about 17-18 million VND/ounce a few weeks ago.

Source: https://nld.com.vn/gia-vang-hom-nay-16-6-bien-dong-manh-kho-doan-196240616085917102.htm