Volatile, unpredictable

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

This price has been stable for over a week, as the State Bank kept the selling price of gold bars unchanged for four state-owned commercial banks and SJC company.

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

Gold price today is difficult to predict according to both analysts and international investors.

The price of gold rings increased following the strong recovery of the international market. The price of gold on the international market ended the trading week at 2,332 USD/ounce, an increase of about 40 USD/ounce compared to the end of last week.

This is a fairly good recovery for the precious metal after a sell-off of more than $90/ounce at the end of last week, pushing gold prices below the $2,300/ounce range.

However, the gold price trend next week is not easy to predict. The results of the Kitco survey on gold price trends today show that in the survey on Wall Street, of the 13 analysts who responded, only 23% said that gold prices will increase, 15% said that gold prices will decrease and up to 62% said that gold prices will be neutral - gold prices may continue to move sideways.

Similarly, in an online survey on Main Street, 216 investors responded, of which 23% predicted gold prices would continue to rise, 23% said gold prices would fall and 54% predicted gold prices would remain flat.

SJC gold bar price stable last week

According to analysts, the market is waiting for information on the monetary policy management of the European region, when next week the central banks of Switzerland, the UK... will announce their monetary policy decisions.

In the US, new information about slowing inflation could help the US Federal Reserve (FED) start cutting interest rates in September. Gold prices also increased last weekend despite the USD index rising to 105.5 points.

Currently, the world gold price converted according to the listed exchange rate is about 71.6 million VND/tael, lower than SJC gold bars by about 5.3 million VND/tael and lower than gold rings by about 3.3 million VND/tael. The difference between SJC gold bars and the world price has narrowed significantly compared to the record level a few weeks ago of about 17-18 million VND/tael.

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