Gold price today dropped
At around 6:00 a.m. on June 19 (Vietnam time), the spot gold price on the world market was recorded at 3,375 USD/ounce, down 25 USD compared to the peak of the session (3,400 USD/ounce).
Gold futures for August delivery also fell, trading at $3,390 an ounce, down about 0.7% from the previous session.
The decline came as the US Federal Reserve (Fed) kept interest rates in the range of 4.25% - 4.5%, as analysts had predicted. However, the focus of market attention was on the latest economic forecasts from the Fed, when the agency lowered its economic growth forecast, raised inflation expectations and signaled that it would only cut interest rates twice in 2025.
The Fed's decision to keep interest rates unchanged has added pressure on gold prices, as the precious metal is often sensitive to monetary policy.
The Fed forecasts that interest rates could fall to 4% by the end of the year, but it also stressed that it is in no rush to cut rates. This has kept investors cautious, limiting the flow of money into gold, an asset that does not pay interest.
In Vietnam, by the end of June 18, the price of SJC gold was listed at 119.6 million VND/tael (selling price), and the price of gold rings was 116.2 million VND/tael.
Source: https://nld.com.vn/gia-vang-hom-nay-19-6-dao-chieu-di-xuong-196250619063104704.htm
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