Gold price today June 24: World gold price drops sharply, domestic price remains unchanged for the second day

Mi Hong Company reduced the buying price of SJC gold bars by 300,000 VND per tael, down to 118.7 million VND, and kept the selling price unchanged at 119.7 million VND. Saigon Jewelry Company - SJC kept the gold price unchanged for the second consecutive day, buying at 117.7 million VND, selling at 119.7 million VND. Phu Quy Company also kept the buying price of SJC gold bars at 117 million VND, selling at 119.7 million VND... The price of SJC gold bars is 2 - 3 million VND higher than the price of 4-number-9 rings per tael. SJC Company bought at 113.7 million VND, selling at 116.3 million VND; Phu Quy Company bought 113.6 million VND, sold 116.6 million VND... SJC gold bar price is 13.7 million VND/tael higher than the world price , while gold rings are 10.3 million VND/tael higher.

The price of gold rings is nearly 3 million VND/tael lower than that of SJC gold bars (PHOTO: NGOC THANG)

The world gold price dropped sharply by 25 USD/ounce, down to 3,343 USD, at one point down to 3,332 USD. In the US trading session (night of June 23), the price of the precious metal increased sharply to 3,394.5 USD. Despite the dramatic geopolitical developments in the Middle East, the gold market did not increase as strongly as expected, confusing analysts who predicted strong safe-haven demand following the direct involvement of the US military in the region. Another confusing factor for gold is that the USD-Idnex index decreased but gold still could not increase. This shows that the pressure to sell gold is the main driving force pushing the price down.

In addition, recent US inflation data was weaker than expected, with the consumer price index (CPI) rising just 0.1% in May. This has reinforced expectations that the US Federal Reserve (Fed) will cut interest rates in September. As interest rates fall, gold will become even more attractive to investors .

Notably, according to data recently released by the World Gold Council (WGC), 95% of reserve managers expect central banks to continue to increase their gold reserves in the next 12 months. This is a record high since the survey began in 2019 and an increase of 17% compared to the data recorded in 2024. Therefore, central banks, especially in China and Russia, are continuing to accumulate gold as part of a strategy to diversify their investment portfolios away from the US dollar./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-2462025-vang-the-gioi-giam-manh-trong-nuoc-bat-dong-ngay-thu-2-185250624084638982.htm

Source: https://baolongan.vn/gia-vang-hom-nay-24-6-vang-the-gioi-giam-manh-trong-nuoc-bat-dong-ngay-thu-2-a197569.html