Domestic gold price today

Domestic gold prices fluctuated slightly 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 66.55 million VND/tael and sold at 67.17 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 fluctuated slightly this morning. Photo: nld.com.vn

DOJI brand gold price in Hanoi is listed at 66.4 million VND/tael for buying and 67 million VND/tael for selling. In Ho Chi Minh City, this brand gold is being bought and sold at the same low level as 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 buying at 66.45 million VND/tael and selling at 66.95 million VND/tael. Bao Tin Bao Tin Minh Chau gold is listed at 66.46 million VND/tael for buying and 67.1 million VND/tael for selling.

Domestic gold price updated at 5:30 am on June 15 as follows:

Yellow

Area

Early morning June 14

Early morning June 15

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

66.4

67

-50

-50

Ho Chi Minh City

66.4

67

66.4

67

-

-

Phu Quy SJC

Hanoi

66.45

67.05

66.45

67.05

-

-

PNJ

Ho Chi Minh City

66.45

67

66.45

66.95

-

-50

Hanoi

66.45

67

66.45

66.95

-

-50

SJC

Ho Chi Minh City

66.5

67.1

66.55

67.15

+50

+50

Hanoi

66.5

67.12

66.55

67.17

+50

+50

Danang

66.5

67.12

66.55

67.17

+50

+50

Bao Tin Minh Chau

Nationwide

66.47

67.03

66.46

67.1

-10

+70










World gold price today

Spot gold fell $1.4 to $1,942 an ounce early this morning. August gold futures last traded at $1,968.9 an ounce, up $12 from early the previous day.

The yellow metal traded close to its previous early morning levels but pared gains from the day as the US Federal Reserve maintained its hawkish stance on monetary policy despite its decision to pause at this meeting.

After a two-day meeting, the Fed decided not to raise interest rates for the 11th consecutive time, to assess the impact of previous increases. However, the decision of the Federal Open Market Committee (FOMC) to postpone the rate hike at this meeting was accompanied by a forecast of two more 25 basis point increases before the end of the year.

“Holding the target range unchanged at this meeting allows the committee to further assess the information and implications of monetary policy,” the Fed’s next meeting is July 25-26, the statement said.

The surprise came from the dot plot, which depicts the forecasts of individual FOMC members, showing that they expect interest rates to be higher. Accordingly, members think the federal funds rate will reach 5.6% by the end of this year, up from the forecast of 4.2% given at the March meeting. With a 0.25% increase, the FOMC will make two more rate hikes in the remaining four meetings this year.

The Fed funds rate is expected to be 4.6% by the end of 2024, up from the March forecast of 4.1%. Rates are expected to remain elevated at 3.4% in 2025, up from the previous estimate of 3.1%.

Responding to questions from reporters after the meeting, Fed Chairman Jerome Powell clarified the Fed’s decision to pause and noted that it was not a “skip.” When asked about rate cuts, Powell said the Fed would only consider easing policy in the next two years if inflation fell significantly.

World gold prices this morning were trading near the level of the previous morning. Photo: Kitco

The head of the world's most powerful central bank also said that all future interest rate decisions would be data-driven and he could not say what the final rate would be.

In keeping interest rates steady, the central bank expressed optimism about economic growth. The Fed forecast the U.S. economy to grow 1% this year, up from its forecast of 0.4% at its March meeting. At the same time, inflationary pressures are expected to remain above the central bank's 2% target. The Fed forecast core inflation, which strips out volatile food and energy prices, to rise 3.9% this year, up from its March estimate of 3.6%.

The Fed also maintained optimism about the labor market, predicting that the unemployment rate in the country will decrease from the forecast of 4.5% in March to 4.1%.

While gold prices are trying to gain new momentum, one market strategist said the short-term decline in gold could be a buying opportunity. Naeem Aslam, chief investment officer at Zaye Capital Markets, said the Fed is playing it safe with its latest statement as it appears to be ending its tightening cycle.

With domestic gold prices fluctuating slightly and world gold prices anchored at 1,942 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 over 11 million VND/tael.

TRAN HOAI