LIVE UPDATE TABLE OF GOLD PRICE TODAY 6/5 and EXCHANGE RATE TODAY 6/5
| 1. SJC - Updated: 06/05/2023 16:29 - Website time of supply source - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| SJC 1L, 10L | 66,550 | 67,150 |
| SJC 5c | 66,550 | 67,170 |
| SJC 2c, 1c, 5c | 66,550 | 67,180 |
| SJC 99.99 gold ring 1 chi, 2 chi, 5 chi | 55,450 | 56,400 |
| SJC 99.99 gold ring 0.5 chi | 55,450 | 56,500 |
| Jewelry 99.99% | 55,300 | 56,000 |
| Jewelry 99% | 54,246 | 55,446 |
| Jewelry 68% | 36,234 | 38,234 |
| Jewelry 41.7% | 21,504 | 23,504 |
World gold price and gold price in opposite direction.
Opening the first trading session of the week on June 5, domestic gold price decreased by 50 thousand VND/tael.
Specifically, the price of SJC gold in the Hanoi market was listed by Saigon Jewelry Company at 66.4 - 67 million VND/tael (buy - sell), down 50 thousand VND/tael for buying and down 70 thousand VND/tael for selling compared to the trading session at the end of last week.
At Phu Quy Jewelry Company, the listed price of SJC gold is 66.35 - 66.95 million VND/tael (buy - sell), down 50 thousand VND/tael in both buying and selling compared to the trading session at the end of last week.
Meanwhile, in the Asian market, gold prices fell in the session on June 5, due to the USD holding steady after a strong jobs report, although the market received support from the possibility that the US Federal Reserve (Fed) will stop raising interest rates this month.
Spot gold fell 0.4% to $1,939.19 an ounce at 3:03 p.m. (Vietnam time). US gold futures fell 0.8% to $1,954.4 an ounce.
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| Gold price today September 12: (Source: Kitco News) |
According to the World & Vietnam Newspaper , at 8:13 a.m. on June 6 (Vietnam time), the world gold price on Kitco was at 1,959.8 - 1,960.6 USD/ounce, down 1.9 USD/ounce compared to the previous trading session.
Summary of SJC gold prices at major domestic trading brands at the closing time of June 5:
Saigon Jewelry Company listed the price of SJC gold at 66.55 - 67.15 million VND/tael.
Doji Group currently lists the price of SJC gold at: 66.4 - 67.00 million VND/tael.
Phu Quy Group listed at: 66.45 - 67.10 million VND/tael.
PNJ system listed at: 66.4 - 67.0 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at: 66.47 - 67.08 million VND/tael; Rong Thang Long gold brand is traded at 55.48 - 56.38 million VND/tael; jewelry gold price is traded at 55.10 - 56.20 million VND/tael.
Thus, compared to the early morning of June 5, the price of SJC gold in the Hanoi market listed by Saigon Jewelry Company increased by VND150,000/tael for both buying and selling.
Converted according to the USD price at Vietcombank on June 5, 1 USD = 23,670 VND, the world gold price is equivalent to 55.35 million VND/tael, 11.8 million VND/tael lower than the selling price of SJC gold.
World gold price reverses
According to Reuters , world gold prices fell in the first trading session of the week on Monday as the US dollar firmed after strong US jobs data last week, offsetting some support for non-yielding bullion from bets that the Fed could pause interest rate hikes in June.
Spot gold fell 0.4% to $1,939.44 an ounce at 1130 GMT, near its lowest since May 30. U.S. gold futures fell 0.7% to $1,956.40 an ounce.
“Gold prices fell after the release of the US non-farm payrolls report, which fueled the recovery of the US dollar,” said Han Tan , chief market analyst at Exinity.
The dollar index rose 0.3%, making greenback-denominated bullion cheaper for overseas buyers, while benchmark U.S. bond yields hovered near a one-week high.
Gold also weakened as safe-haven demand eased after U.S. President Joe Biden pushed a debt ceiling deal through both the House and Senate, SP Angel analysts said in a note.
According to CME FedWatch Tool, the possibility of the Fed maintaining interest rates at the meeting on June 13-14 is pegged at 77%.
Technically, the bulls’ advantage has diminished a bit, according to Kitco News, with the bulls’ next upside target being a futures contract closing in August above solid resistance at $2,000 an ounce.
Meanwhile, the bears' next near-term downside price objective is to push futures prices below solid technical support at the May low of $1,949.60/ounce.
However, gold prices reversed to slightly higher in early Asian trading on Tuesday, June 6, after US services sector data reinforced hopes that the Fed could pause its monetary policy tightening cycle this month.
Spot gold was steady at $1,961.09 an ounce at 0016 GMT. U.S. gold futures rose 0.2 percent to $1,977.30.
The dollar index was flat after falling on Monday, while the yield on the 10-year Treasury note fell to 3.683%. A weaker dollar makes greenback-priced bullion cheaper for overseas buyers.
The US services sector barely grew in May as new orders slowed, pushing input prices to a three-year low, a survey from the Institute for Supply Management showed, which could support the Fed’s fight against inflation.
Traders have priced in an 81.7% chance that the Fed will leave interest rates unchanged at its June 13-14 policy meeting, according to CME Group's FedWatch tool.
Investors are bracing for a wave of U.S. government bond issuance as the Treasury Department plans to quickly replenish depleted coffers following a recent suspension of the debt limit.
Reflecting sentiment, SPDR Gold Trust GLD, the world's largest gold-backed exchange-traded fund, said its holdings rose 0.15% to 939.56 tonnes on Monday (June 5) from 938.11 tonnes on Friday.
“To see higher gold prices, we need to see the Fed become more dovish, which may require weaker economic data,” said UBS analyst Giovanni Staunovo .
Previously, Reuters analyst Wang Tao said gold prices could return to the low of $1,931.76/ounce recorded on May 30.
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