Domestic gold price today

Domestic gold prices were almost unchanged early this morning. Currently, the domestic precious metal prices are listed specifically as follows:

SJC gold price in Hanoi and Da Nang is currently being bought at 66.5 million VND/tael and sold at 67.12 million VND/tael. In Ho Chi Minh City, SJC gold is still being bought at the same price as in Hanoi and Da Nang but sold at 20,000 VND lower.

Domestic gold prices remained almost unchanged early this morning. Photo: VNA

DOJI brand gold price in Hanoi is listed at 66.45 million VND/tael for buying and 67.05 million VND/tael for selling. In Ho Chi Minh City, this brand gold is being bought and sold 50,000 VND lower than in Hanoi.

Phu Quy SJC gold price is listed at 66.45 million VND/tael for buying and 67.05 million VND/tael for selling. PNJ gold is listed at 66.45 million VND/tael for buying and 67 million VND/tael for selling. Bao Tin Bao Tin Minh Chau gold is listed at 66.47 million VND/tael for buying and 67.03 million VND/tael for selling.

Domestic gold price updated at 5:30 am on June 14 as follows:

Yellow

Area

Early morning June 13

Early morning June 14

Difference

Buy

Sell

Buy

Sell

Buy

Sell

Unit of measure:

Million VND/tael

Unit of measure:

Thousand dong/tael

DOJI

Hanoi

66.45

67.05

66.45

67.05

-

-

Ho Chi Minh City

66.45

67.05

66.4

67

-50

-50

Phu Quy SJC

Hanoi

66.5

67.1

66.45

67.05

-50

-50

PNJ

Ho Chi Minh City

66.45

67

66.45

67

-

-

Hanoi

66.45

67

66.45

67

-

-

SJC

Ho Chi Minh City

66.5

67.1

66.5

67.1

-

-

Hanoi

66.5

67.12

66.5

67.12

-

-

Danang

66.5

67.12

66.5

67.12

-

-

Bao Tin Minh Chau

Nationwide

66.52

67.08

66.47

67.03

-50

-50

World gold price today

World gold prices continued to decline sharply early this morning, with spot gold falling $13.4 to $1,943.4 an ounce. August gold futures last traded at $1,956.9 an ounce, down $14 from early the previous day.

Gold markets extended weekly losses ahead of the US Federal Reserve’s interest rate decision as markets re-priced expectations for a rate cut on Wednesday followed by a rate hike in July.

The latest inflation report revealed a mixed outlook for the US. While the consumer price index (CPI) fell to 4% year-on-year, marking its lowest level in more than two years, the core CPI, which the Fed pays more attention to because it strips out volatile food and energy prices, fell to 5.3% from 5.5%, but was slightly hotter than expected.

Analysts remain cautious despite the cooling inflation, which opens the door to a Fed pause. Economists Sarah House and Michael Pugliese of Wells Fargo said that, given the new data, it is likely that the Fed will pause its rate hikes at its June meeting. “However, we expect Chairman Powell’s press conference and the latest summary of economic projections to signal that another rate hike remains on the cards.”

If core inflation remains in the 3% to 3.5% range by the end of this year, markets will not expect the Fed to cut interest rates anytime soon.

According to the CME FedWatch Tool, after the CPI data was released, markets were pricing in a 92% chance the Fed would pause on Wednesday and a 60% chance of a 25 basis point hike in July.

Gold market focus today is on updated economic forecasts, dot charts and Fed Chairman Jerome Powell's press conference.

World gold prices reversed and fell sharply this morning. Photo: Reuters

"For gold to rally, Wall Street needs to be confident that the Fed is done raising rates. This inflation report is appropriate, but some Fed members may be concerned that core price pressures persist," said Edward Moya, senior market analyst at OANDA.

Analysts warn that if there is a surprise rate hike on Wednesday, gold is at risk of a broad sell-off. “A surprise rate hike is likely to trigger a sharp sell-off towards levels not reached since mid-March at $1,900 an ounce,” said FXTM senior market analyst Lukman Otunuga. “In the meantime, prices remain stuck in a range with support at $1,935 an ounce and resistance at $1,983 an ounce.”

With domestic gold prices remaining almost unchanged and world gold prices listed at Kitco at 1,943.4 USD/ounce (equivalent to nearly 55.4 million VND/tael if converted at Vietcombank exchange rate, excluding taxes and fees), the difference between domestic and world gold prices is currently about 11.6 million VND/tael.

TRAN HOAI