The world gold price at one point dropped vertically by 20 USD, from 1,960 USD/ounce to 1,940 USD/ounce.
At dawn on June 15, at the end of the June 2023 monetary policy meeting, the US Federal Reserve (FED) announced that it would keep interest rates unchanged at 5%-5.25%. This is the first time the FED has paused raising interest rates after 10 consecutive increases since March 2022.
However, the FED still sent signals that from now until the end of 2023, interest rates will continue to rise to further reduce inflation.
In response to this news, the USD increased in value across the board, with the 10-year US bond interest rate rising from 3.78%/year to 3.85%/year and the 2-year bond from 4.64%/year to 4.8%/year. Financial investors have poured capital into the USD and bonds, meaning that very little money has flowed into precious metals.
The above developments negatively impacted the gold price today. Under pressure from the USD and bonds, many people sold gold to recover capital. After only a few minutes of trading, the world gold price fell vertically from 1,960 USD/ounce to 1,940 USD/ounce at 3:00 a.m. on June 15.
At 6:00 a.m. the same day, the world gold price was trading at 1,942 USD/ounce.
Previously, in Vietnam, SJC gold price increased slightly by 50,000 VND/tael, closing at 67.05 million VND/tael at the end of the day thanks to the effect of the world gold price increasing on June 14.
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