At the end of the session on June 14, the price of gold bars at SJC closed at 117.8-120.3 million VND/tael (buy - sell), an increase of 300,000 VND/tael compared to the previous session.
The price of 1-5 chi SJC gold rings is listed at 113.7-116.2 million VND/tael (buy - sell), an increase of 200,000 VND/tael compared to the closing price of the previous session.
Meanwhile, the price of 9999 gold rings at Doji is listed at 115-117 million VND/tael, unchanged from the closing price of the previous session.
In the world market, the spot gold price on Kitco closed the trading week at 3,430 USD/ounce. The gold futures price for August 2025 delivery on the Comex New York floor traded at 3,452 USD/ounce.
Tensions in the Middle East pushed gold prices to a record weekly close above $3,400 an ounce. Gold is now outperforming the dollar, which has struggled to attract safe-haven flows. The U.S. dollar index ended the trading week at 98.13, down 1% from a week ago.
The escalation of the Middle East conflict due to attacks between Israel and Iran has affected investor sentiment. Global markets have seen a strong reaction, with oil prices soaring, while investors have pulled money from the stock market and shifted to safe-haven assets such as gold and government bonds.
When geopolitical uncertainty and risk increase, investors tend to turn to gold - considered a reliable "safe haven". However, history shows that these price increases are often short-lived without a more significant escalation or supporting macroeconomic factors.
Market attention turns to the US Federal Reserve (Fed) as Chairman Jerome Powell is due to speak after its monetary policy meeting next week.
Markets are expecting the Fed to keep interest rates unchanged. However, there is growing speculation that Mr. Powell could start preparing for a rate cut later this year.
The latest inflation data, along with signs of slowing U.S. economic growth, have given the Fed more room to ease monetary policy. However, rising geopolitical uncertainty could make markets more cautious in their forecasts.
A weaker dollar makes gold cheaper for investors holding other currencies, which stimulates demand for the metal. The market has seen the dollar weaken amid escalating conflicts, adding to the upward momentum for gold.
Investors will be closely watching Mr. Powell's speech for any clues about the Fed's monetary policy path in the coming period, which has a significant impact on the direction of gold prices.
Gold Price Forecast
World gold prices have broken through short-term resistance, but analysts remain cautious about the possibility of the precious metal setting a new record next week.
While the escalating conflict between Israel and Iran is reinforcing gold's safe-haven status, geopolitical-driven price rallies are typically short-lived.
The conflict between Israel and Iran could keep gold above $3,400, but it won’t push prices higher if tensions are minor, said Ole Hansen, head of commodity strategy at Saxo Bank. The market has seen a number of geopolitical events that have sent gold soaring over the past three years, but none have been able to sustain the rally.
According to Lukman Otunuga, senior market analyst at FXTM, if the Fed adopts a “dovish” stance following the latest inflation report, this could provide a strong boost to gold bulls. Such a development could push prices above the all-time high of $3,500, especially if current geopolitical factors continue to support them.
Otunuga also warned of the opposite scenario: if the Fed meeting is “hawkish” and Mr. Powell shows caution about future rate cuts, gold could lose some of its appeal as investors reduce expectations for a Fed rate cut.
If it weakens and fails to hold the $3,430 mark, gold prices could retreat to the support levels of $3,400 and $3,360.
Source: https://vietnamnet.vn/gia-vang-hom-nay-15-6-2025-tien-gan-muc-cao-ky-luc-vang-sjc-tang-vot-2411528.html
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