Update on the closing price of gold on June 26: Massive plunge

Update SJC gold price

Domestic SJC gold price closed on June 26, 2024.

Price of 9999 round gold ring

As of 5:00 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 74.5-75.8 million VND/tael (buy - sell).

Saigon Jewelry Company listed the price of gold rings at 73.85-75.45 million VND/tael (buy - sell).

Bao Tin Minh Chau listed the price of gold rings at 74.56-75.86 million VND/tael (buy - sell).

World gold price

As of 7:50 p.m. today, the world gold price listed on Kitco was at 2,320 USD/ounce, down 2.7 USD/ounce compared to the opening of the previous trading session.

Update world gold price. Screenshot

Gold price forecast

World gold prices fell amid a rising USD index. Recorded at 7:50 p.m. on June 26, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, stood at 105,662 points (up 0.38%).

Experts said that gold prices will continue to fluctuate in a narrow range in the coming days as traders are hesitant ahead of the release of the personal consumption expenditure index report and the short-term direction continues to be dominated by uncertainty surrounding the US Federal Reserve's monetary policy.

The gold market may be struggling now, but is expected to see a significant surge higher as the Fed cuts interest rates later this year and rising debt adds to economic uncertainty, according to Bank of America. A Fed rate cut and bond market turmoil could push gold prices to $3,000 in the next 12 to 18 months.

In an interview with Kitco News last week, Chantelle Schieven, head of research at Capitalight Research, said she expects the Fed to quickly cut interest rates if the economy begins to weaken significantly, even if inflation remains high. Geopolitical uncertainty is also a factor supporting gold in the long term.

In addition, in a recent report, Heraeus experts said that gold will continue to be supported by strong buying activities of central banks even as China's buying activities slow down.

Experts cite the latest survey results of the World Gold Council showing that most central banks said they would increase their gold holdings in the coming time.

Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-chot-phien-266-o-at-lao-doc-1358085.ldo