Vertical fall

Domestic gold price today

Early morning of June 15 , SJC 9999 gold price today decreased by 150 thousand VND/tael in both buying and selling compared to the close of yesterday's trading session.

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

	Buy	Sell out
SJC Hanoi	66,400,000 VND/tael	67,020,000 VND/tael
SJC HCMC	66,400,000 VND/tael	67,000,000 VND/tael
SJC Danang	66,400,000 VND/tael	67,020,000 VND/tael
Doji Hanoi	66,400,000 VND/tael	67,000,000 VND/tael
Doji HCMC	66,450,000 VND/tael	66,950,000 VND/tael

SJC and DOJI gold price list updated early morning June 15

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

SJC Hanoi: 66,550,000 VND/tael - 67,170,000 VND/tael
Doji Hanoi: 66,400,000 VND/tael - 67,000,000 VND/tael
SJC HCMC: 66,550,000 VND/tael - 67,150,000 VND/tael
Doji HCMC: 66,500,000 VND/tael - 67,000,000 VND/tael

The central exchange rate on June 15 announced by the State Bank is 23,704 VND/USD, an increase of 4 VND compared to yesterday. The USD price at commercial banks this morning (June 15) was traded around 23,300 VND/USD (buy) and 23,670 VND/USD (sell).

International gold price today

At 10:16 am today (June 15, Vietnam time ), the world spot gold price stood at around 1,934.1 USD/ounce, down 21.9 USD/ounce compared to last night. The price of gold futures for August delivery on the Comex New York floor was at 1,947 USD/ounce.

Fluctuations in international gold prices in the past 24 hours (Photo: Kitco)

On the night of June 14 (Vietnam time), the world spot gold price stood at around 1,956 USD/ounce. Gold for August delivery on the Comex New York floor was at 1,979 USD/ounce.

The world gold price on the night of June 14 was about 7.2% higher (132 USD/ounce) than at the beginning of 2023. World gold converted to the bank USD price was 56.3 million VND/tael, including taxes and fees, about 10.8 million VND/tael lower than the domestic gold price as of the end of the afternoon session on June 14.

*Gold prices increase due to USD decrease. (Photo: HH)*

Gold prices rose again after the DXY index (measuring the USD's volatility 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 an unprecedented monetary tightening period in more than 40 years.

Precious metals were further supported after the US Department of Labor said that the producer price index (PPI) in May fell sharply by 0.3% after rising 0.2% in April. This was a surprise development as economists had forecast the PPI to fall only 0.1% in May.

Economists pay close attention to the Producer Price Index (PPI). It is a leading indicator of consumer price movements. Traditionally, companies raise or lower their prices in response to changes in input costs.

Gold price forecast

The fall in PPI suggests that inflation will cool further. The US Federal Reserve (Fed) may be more cautious in raising interest rates. The USD also fell following positive signals in the market.

However, gold has not rallied much. Core inflation is still much higher than the 2% target. High prices are still having a negative impact on the economy.

In a recent Kitco survey, most analysts forecast gold to rise this week. However, in the short term, gold is still under profit-taking pressure and the upside is hindered by expectations that the Fed will not end its rate hike cycle. Gold is forecast to have difficulty surpassing the $2,000/ounce threshold in the short term.

Blue Line Futures representative said that the market still has many potential uncertainties. Gold needs to overcome important resistance levels before entering a new uptrend.

Source