At the end of the session on June 19, the price of SJC gold bars was traded at 117.4 - 119.4 million VND/tael (buy - sell), down 200,000 VND/tael compared to the previous session.
With a similar decrease, the price of 1-5 chi SJC gold rings is listed at 113.5 - 116 million VND/tael. The price of 9999 gold rings at Doji is traded at 114.5 - 116.5 million VND/tael, down 500,000 VND/tael compared to the previous session.
At 8:00 p.m. on June 19 (Vietnam time), the spot gold price was listed at $3,364/ounce, down 0.49% on the day. The gold futures price for August 2025 delivery on the Comex floor (New York) traded at $3,381/ounce.
The global gold market was little changed after the conflicting monetary policy decisions from the Bank of England (BoE) and the Swiss National Bank (SNB). The BoE kept interest rates unchanged, while the SNB decided to cut. This difference contributed to maintaining stable gold prices in the high zone.
Economists say the BoE's monetary policy is caught in a tug-of-war between weak economic growth and persistent inflationary pressures.
Rate cuts will be “gradual and cautious,” while keeping policy tight to keep inflation in check, said Michael Brown, senior market strategist at Pepperstone.
Meanwhile, experts say the SNB is trying to keep the franc weak to support exports and economic growth. The Swiss franc is considered a safe haven asset due to its stable financial system.
Previously, the US Federal Reserve (Fed) decided to keep the benchmark interest rate in the range of 4.25-4.5%, maintaining this level from December 2024. The decision shows the Fed's caution in the context of the risk of stagflation, contrary to the expectations of US President Donald Trump.
The US Dollar Index (DXY), which measures the greenback's movements against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stood at 98.96 points.
Gold Price Forecast
According to experts, lower interest rates often weaken the US dollar, making gold cheaper for international investors, thereby increasing demand and pushing up prices. However, factors such as geopolitical instability, economic crises or global financial concerns also contribute to gold's safe-haven role despite high interest rates.
According to the WGC’s annual survey, 95% of central bankers surveyed said they planned to increase their gold reserves in the next 12 months, the highest proportion since the survey began in 2018.
Meanwhile, about three-quarters of respondents expect the share of US dollar reserves to decline over the next five years, according to a survey of more than 70 central banks.
Tim Waterer, chief market analyst at KCM Trade, said gold prices are recovering slightly as investors closely monitor developments in the Israel-Iran conflict. If the US intervenes directly, geopolitical tensions will increase sharply.
Experts at Bank of America (BofA) predict that gold prices could reach $4,000/ounce this year, thanks to concerns about the US government's increasingly serious budget deficit.
BofA believes that interest rate volatility and the weakening trend of the US dollar will continue to support gold. In particular, if the US Treasury or the Fed is forced to intervene to stabilize the market, gold will benefit even more.
“While wars and conflicts are not sustainable price drivers, we still see the potential for gold to reach $4,000 an ounce in the next 12 months,” the BofA report stressed.
HA (according to Vietnamnet)Source: https://baohaiduong.vn/gia-vang-hom-nay-20-6-mat-da-lao-doc-sjc-va-nhan-co-dieu-chinh-414491.html
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