As of 8:00 p.m. on June 18 (Vietnam time), the spot gold price today on the international market was at $3,395/ounce. Gold for August 2025 delivery on the Comex New York floor was at $3,413/ounce.
The world gold price on the night of June 18 was about 29.3% higher (equivalent to 770 USD/ounce) than at the end of 2024. The world gold price converted to the bank USD price was 108.4 million VND/tael, including taxes and fees, about 11.2 million VND/tael lower than the domestic gold price as of the end of the afternoon session on June 17.
Gold prices on the international market increased slightly in the context of the war between Israel and Iran in the Middle East still heating up, throwing fire at each other. Besides, the US economy sent out some worse signals.
Gold prices rose but were stopped short of the psychological threshold of $3,400 an ounce. Demand was not strong enough to push the price of the precious metal above this threshold, even as the US reported that the number of workers filing for unemployment benefits for the first time remained high.
Initial jobless claims remain at their highest level since early October, according to the US Department of Labor.
The US also released data on the deteriorating housing market last month. Specifically, according to the US Department of Commerce, the number of housing starts fell 9.8% in May to a seasonally adjusted annual rate of 1.256 million units. This is the lowest level since May 2020, when the COVID-19 outbreak began.
The data was much worse than expected, with economists expecting only a slight decline of -0.8% to 1.36 million units. April saw a revised increase of 2.7% to 1.392 million units.
Gold has also been under pressure from a recovering US dollar over the past few days. The DXY index is currently at 98.9 points, up from 98.2 points at the same time the previous session.
Investors are further dissecting the monetary policy signals of the US Federal Reserve (Fed).
Domestically, the price of SJC gold bars and plain rings is under pressure as authorities step up management to prevent speculation and hoarding. Gold prices are flat and trading is quiet.
Specifically, by the end of the trading session on June 18, the price of 9999 gold bars at SJC and Doji was listed at 117.6-119.6 million VND/tael (buy - sell).
Late afternoon on June 18, SJC announced the price of gold rings of type 1-5 at only 113.7-116.2 million VND/tael (buy - sell). Doji announced the price of gold rings of type 1-5 at only 115-117 million VND/tael (buy - sell).
Gold Price Forecast
World gold prices are hovering around the $3,390-$3,400/ounce threshold. Profit-taking pressure increases quite quickly every time gold approaches $3,400/ounce. However, some analysts believe that weak US employment data will have a positive impact on precious metals.
The weakening labor market is expected to prompt the Fed to shift from a neutral to accommodative monetary policy stance and signal a rate cut later this year.
Geopolitical tensions in the Middle East, particularly the Israel-Iran conflict, continue to drive demand for gold as investors seek safe haven assets amid uncertainty. The Ukraine-Russia situation shows no signs of abating, reinforcing gold’s role as a hedge against risk.
Many organizations have recently forecast that gold prices may fluctuate around $3,350-3,450/ounce in the short term. Gold prices tend to increase slightly if geopolitical tensions escalate or US inflation data is weaker than expected. Conversely, positive economic reports may curb the increase.
Source: https://vietnamnet.vn/gia-vang-hom-nay-19-6-2025-tin-hieu-xau-di-vang-mieng-sjc-va-nhan-tron-ra-sao-2412830.html
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