 |
At the close of trading on June 12, the precious metal edged up slightly by $7.6 to $4,218 per ounce. Photo: Reuters . |
After recovering nearly $200 from its previous lows, the price of gold continued to rise to $4,245 per ounce during the June 12th trading session (US time), before falling to $4,176 per ounce. By the close of trading, the precious metal edged up slightly by $7.6 to $4,218 per ounce, while US gold futures contracts rose 3% and closed at $4,238.8 per ounce.
However, overall within a week, this item experienced several sharp price drops and lost 2.3% of its value.
In other metals, spot silver prices rose 1.2% to $68.14 per ounce. Palladium increased 0.7% to $1,281.04 per ounce. Platinum, however, fell 0.8% to $1,706.9 per ounce.
Since the conflict erupted in late February, gold prices have been under pressure due to inflation concerns as rising oil prices will force central banks to maintain high interest rates for longer. While gold is often seen as a hedge against inflation, high interest rates reduce the attractiveness of non-yielding assets like gold.
Currently, UBS has lowered its gold price forecast, warning that the Fed's delay in cutting interest rates could push gold prices down to the $3,850- $4,000 per ounce range in the short term.
On the other hand, oil prices continued to fall after reports emerged that the US and Iran might sign a memorandum of understanding to end the conflict in the Gulf as early as June 14, according to a Reuters source. However, Iran's Fars news agency denied this information.
Specifically, US WTI crude oil fell 3.2%, closing at $84.88 per barrel. Brent crude, the international market benchmark, lost 3.4%, closing at $87.33 per barrel. Overall for the week, oil prices fell by about 6%, but remain more than 20% higher than before the US and Israel attacked Iran on February 28th.
In the US stock market, all indices closed higher on June 12th as investors continued to place their hopes on a peace agreement between the US and Iran, while SpaceX shares surged on their first day of trading, becoming the largest listing in Wall Street history.
At the close of trading, the Dow Jones index rose 353.51 points (+0.7%) to 51,202.26 points. The S&P 500 index increased 37.16 points (+0.5%) to 7,431.46 points, while the Nasdaq Composite gained 79.18 points (+0.31%) to 25,888.84 points.
Thus, all three major US stock indices ended the week with gains of around 7%, reflecting optimistic investor sentiment. However, US equity funds recorded their first weekly outflow in the past three weeks. Additionally, the technology index confirmed it entered correction territory this week.
Regarding the geopolitical situation, both the US and Iran have signaled that an agreement to end the conflict between the two countries is very close. A senior US administration official said that a draft agreement has been developed and has received consensus from both sides.
US President Donald Trump has also repeatedly stated since mid-March that an agreement with Iran to end the hostilities is very close.
Currently, according to the CME FedWatch tool, traders are pricing in a 57% chance that the US Federal Reserve (Fed) will raise interest rates before December.
Source: https://znews.vn/gia-dau-giam-vang-troi-sut-post1659267.html
![[Photo] Thousands of people participate in a run to show their support for the campaign "Sharing a common determination to build drug-free communes, wards, and special zones".](https://vphoto.vietnam.vn/thumb/1200x675/vietnam/resource/IMAGE/2026/06/27/1782554475933_0673e2a3df7b5e25076a-8283-jpg.webp)
