Gold price today, June 12: Still on the rise despite US inflation cooling down

(NLDO) – Gold prices continued to increase today, despite cooling inflation data in the US, creating a complicated picture in the precious metals market.

Gold price today shows no signs of slowing down

At around 5:00 a.m. this morning (June 12), the world gold price today reached 3,355 USD/ounce, an increase of 25 USD compared to the same time the previous day (3,325 USD/ounce).

Gold's rally shows no signs of slowing down, even though the latest report on the US consumer price index (CPI) shows inflation is cooling down.

According to newly released data, the US CPI in May increased 2.4% compared to the same period last year, while the core CPI (excluding food and energy) increased 2.8%, equivalent to April.

The figures show that inflation in the US remains high, although lower than some analysts had forecast. The Wall Street Journal said that the upward pressure on prices expected in the summer due to the trade tariff war from late 2024 has not yet materialized.

High inflation is challenging the US Federal Reserve (Fed), forcing the organization to maintain a neutral monetary policy with unchanged interest rates. This increases the opportunity cost of holding gold - an asset that does not yield interest. However, the risk of economic recession due to persistent inflation is boosting demand for gold as a safe haven, supporting gold prices to rise.

Other important markets also recorded fluctuations, which had a certain impact on today's gold price trend. The USD index decreased slightly, while crude oil futures increased, trading around 66.5 USD/barrel. The yield on 10-year US Treasury bonds fell to 4.43% after a positive CPI report.

In Vietnam, at the end of June 11, the price of SJC gold was listed at 118.8 million VND/tael (selling price), while the price of gold rings reached 114.5 million VND/tael.

Source: https://nld.com.vn/gia-vang-hom-nay12-6-van-tren-da-tang-du-lam-phat-my-ha-nhiet-196250612051039164.htm