They all fell vertically.

Domestic gold prices today

Early this morning, June 15th , the price of 9999 gold from SJC decreased by 150,000 VND/ounce in both buying and selling prices compared to the closing price of yesterday's trading session.

The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 9:21 AM, and the price of 9999 gold was listed by Doji Gold and Jewelry Group at 8:32 AM as follows:

	Buy	Sell
SJC Hanoi	66,400,000 VND/ounce	67,020,000 VND/ounce
SJC Ho Chi Minh City	66,400,000 VND/ounce	67,000,000 VND/ounce
SJC Da Nang	66,400,000 VND/ounce	67,020,000 VND/ounce
Doji Hanoi	66,400,000 VND/ounce	67,000,000 VND/ounce
Doji Ho Chi Minh City	66,450,000 VND/ounce	66,950,000 VND/ounce

Updated SJC and DOJI gold prices at the beginning of the morning on June 15th.

At the close of trading on June 14th, the domestic price of 9999 gold was listed by SJC and Doji Gold and Gemstone Group in the following order for buying and selling:

SJC Hanoi: 66,550,000 VND/ounce - 67,170,000 VND/ounce
Doji Hanoi: 66,400,000 VND/ounce - 67,000,000 VND/ounce
SJC Ho Chi Minh City: 66,550,000 VND/ounce - 67,150,000 VND/ounce
Doji Ho Chi Minh City: 66,500,000 VND/ounce - 67,000,000 VND/ounce

The central exchange rate for June 15th, announced by the State Bank of Vietnam, is 23,704 VND/USD, an increase of 4 VND compared to yesterday. The USD price at commercial banks this morning (June 15th) is trading around 23,300 VND/USD (buying) and 23,670 VND/USD (selling).

International gold price today

At 10:16 AM today (June 15th, Vietnam time ), the spot price of gold in the world market stood around $1,934.1 per ounce, down $21.9 per ounce compared to last night. The price of August gold futures on the Comex New York exchange was $1,947 per ounce.

International gold price fluctuations over the past 24 hours (Image: Kitco)

On the night of June 14th (Vietnam time), the spot price of gold in the world market stood around $1,956 per ounce. Gold futures for August delivery on the Comex New York exchange were at $1,979 per ounce.

World gold prices on the night of June 14th were approximately 7.2% (US$132/ounce) higher than at the beginning of 2023. Converted using the bank's USD exchange rate, world gold was priced at VND 56.3 million/ounce, including taxes and fees, which is about VND 10.8 million/ounce lower than domestic gold prices as of the end of the trading session on June 14th.

*Gold prices rose due to a decline in the USD. (Photo: HH)*

Gold prices rose again after the DXY index (measuring the fluctuations of the US dollar against a basket of six major world currencies) fell from 103.3 points to below 103 points. The US is cautious about the impact of the unprecedented monetary tightening in over 40 years.

Precious metals received further support after the US Department of Labor reported that the Producer Price Index (PPI) fell sharply by 0.3% in May, following a 0.2% increase in April. This was a surprising development, as economists had forecast a PPI decline of only 0.1% in May.

Economists often pay close attention to the Producer Price Index (PPI). This is a key indicator of consumer price fluctuations. Traditionally, companies would raise or lower product prices in response to changes in input costs.

Gold price forecast

The decline in the PPI index suggests that inflation will cool down further. The US Federal Reserve (Fed) may therefore be more cautious in raising interest rates. The US dollar also declined following these positive market signals.

However, gold has not risen sharply. Core inflation remains significantly higher than the 2% target. High prices are still negatively impacting the economy.

In a recent survey on Kitco, the majority of analysts predicted that gold would rise this week. However, in the short term, gold remains under selling pressure from profit-taking, and the upward momentum is hampered by expectations that the Fed will not yet end its interest rate hike cycle. Gold is not expected to surpass the $2,000/ounce mark in the short term.

Representatives from Blue Line Futures believe that the market still harbors many uncertainties. Gold needs to break through key resistance levels before entering a new uptrend.

Source