Gold prices today (June 24): Plummeting

Gold prices today (June 24): Trading in SJC gold bars from various brands has plummeted over the past 24 hours, with the highest drop being 1.6 million VND/ounce, bringing the selling price back to around 147 million VND/ounce.

Domestic gold bar prices today

Specifically, gold bars from SJC, Bao Tin Manh Hai, PNJ, and DOJI brands were bought at 144 million VND/ounce and sold at 147 million VND/ounce, a decrease of 1.6 million VND/ounce in both directions compared to early yesterday morning.

Phu Quy branded gold bars are being bought at 144 million VND/ounce and sold at 147 million VND/ounce, a decrease of 1.5 million VND/ounce in both directions compared to early yesterday morning.

The price of domestic gold bars, updated in the early morning of June 24th, is as follows:

Gold bars	Early morning of June 23rd		Early morning of June 24th		Difference
	Buy	Sell	Buy	Sell	Buy	Sell
	Unit of measurement: million VND/ounce				Unit of measurement: Thousand dong/ounce
SJC	145.6	148.6	144	147	-1,600	-1,600
Bao Tin Manh Hai	145.6	148.6	144	147	-1,600	-1,600
DOJI	145.6	148.6	144	147	-1,600	-1,600
PNJ	145.6	148.6	144	147	-1,600	-1,600
Phu Quy	145.5	148.5	144	147	-1,500	-1,500

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Gold prices this morning (early morning of June 24th) decreased by 1.6 million VND/ounce compared to early yesterday morning. (Illustration photo: chinhphu.vn)

Domestic gold ring prices today

The price of gold rings today (June 24th) also dropped sharply compared to early yesterday morning.

Specifically, SJC listed the buying price of gold rings at 143.9 million VND/ounce and the selling price at 146.9 million VND/ounce, a decrease of 1.6 million VND/ounce in both directions compared to early yesterday morning.

The buying price for gold rings from Bao Tin Manh Hai brand is 141.5 million VND/ounce, a decrease of 2 million VND/ounce compared to early yesterday morning.

DOJI branded gold rings are being bought at 144 million VND/ounce and sold at 147 million VND/ounce, a decrease of 1.6 million VND/ounce in both directions compared to early yesterday morning.

PNJ branded gold rings are trading at 144 million VND/ounce for buying and 147 million VND/ounce for selling, a decrease of 1.5 million VND/ounce in both directions compared to early yesterday morning.

Phu Quy brand gold rings are trading at 144 million VND/ounce for buying and 147 million VND/ounce for selling, a decrease of 1.2 million VND/ounce in both directions compared to early yesterday morning.

The price of gold rings in Vietnam, updated in the early morning of June 24th, is as follows:

Gold rings	Early morning of June 23rd		Early morning of June 24th		Difference
	Buy	Sell	Buy	Sell	Buy	Sell
	Unit of measurement: million VND/ounce				Unit of measurement: Thousand dong/ounce
SJC	145.5	148.5	143.9	146.9	-1,600	-1,600
Bao Tin Manh Hai	143.5	But	141.5	But	-2,000	But
DOJI	145.6	148.6	144	147	-1,600	-1,600
PNJ	145.5	148.5	144	147	-1,500	-1,500
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Today's world gold price

Today, the world gold price is trading at $4,110.9 per ounce. Overall, the world gold price has decreased by 1.75% in the last 24 hours, equivalent to a drop of $73.41 per ounce.

With domestic gold bar prices falling and world gold prices listed on Kitco at $4,110.9 USD/ounce (equivalent to 131 million VND/ounce converted at Vietcombank exchange rate, excluding taxes and fees), the difference between domestic and world gold prices is approximately 16 million VND/ounce.

Today, the world gold price is trading at $4,110.9 per ounce. (Illustrative image)

Spot gold and silver prices fell sharply after the close of trading on Tuesday, as the US dollar remained at its highest level this year, risks following a Federal Reserve interest rate hike persisted, and the premium on the Strait of Hormuz continued to fall. US August gold futures fell 2% to $4,117.70 per ounce.

"Gold prices have benefited somewhat from falling oil prices this week, but they haven't benefited from the support of the US dollar, which continues to appreciate amid expectations of a Fed interest rate hike," said Tim Waterer, chief market analyst at KCM Trade.

According to the CME FedWatch tool, traders now estimate the probability of an interest rate hike in December at 88%, compared to 61% before last week's Fed meeting. Thus, investors are anticipating a tightening (hawkish) monetary policy under the leadership of the new Fed Chairman, Kevin Warsh.

In his analysis, Saxo Bank analyst Ole Hansen stated that energy prices will remain a key factor in the short term for the precious metals market.

Meanwhile, according to commodity strategists at Morgan Stanley, without a significant recovery in capital inflows into ETFs, gold will struggle to reach its target of $5,200 per ounce in the second half of 2026.

“While central bank gold purchases may continue regardless, ETF inflows are more sensitive to changes in interest rate expectations. The missing element is demand for ETFs, which are likely to remain sensitive to the Fed’s trajectory, real yields, and the dollar,” analysts Amy Gower and Martijn Rats wrote in a recently published research report.

Investors remain optimistic about the long-term outlook for the precious metal, as they expect easing tensions in the Middle East and falling oil prices to help lower inflation expectations. However, analysts warn that the Fed's recent hawkish tone has fueled expectations that interest rates may remain higher for a longer period.

Morgan Stanley shared data showing that expectations of higher interest rates for a longer period have pushed real yields on 10-year US Treasury bonds much higher than in February, leading to net outflows from gold ETFs recently and contributing to the decline in gold prices.

Investors are currently awaiting data on U.S. personal consumption expenditures (PCE) – the Fed’s preferred inflation indicator – expected to be released on June 25th for further guidance on monetary policy.

Today's silver price

Today's silver price at Phu Quy Gold, Silver and Gemstone Group is listed at 2.359 million VND/ounce (buying price) and 2.432 million VND/ounce (selling price) in Hanoi.

Additionally, according to surveys at other trading locations in Hanoi, the domestic silver price is currently listed at 1.995 million VND/ounce (buying price) and 2.029 million VND/ounce (selling price).

In Ho Chi Minh City, the current price of silver is 1.997 million VND/ounce (buying price) and 2.042 million VND/ounce (selling price).

On the world market, the price of silver is quoted at $63.74 per ounce, a decrease of $2.28 per ounce.

According to the People's Army

Source: https://baoangiang.com.vn/gia-vang-hom-nay-24-06-lao-doc-a490094.html