Domestic gold price today June 25, 2024

The price of SJC gold bars announced by 4 state-owned commercial banks including Agribank , BIDV, Vietcombank and VietinBank this morning continued to remain at the old level, 76.98 million VND/tael. This is the 14th consecutive session that the price of SJC gold bars sold by banks remains at 76.98 million VND/tael.

Early morning of June 25 , SJC 9999 gold price remained unchanged compared to the end of yesterday's trading session, maintained at 76.98 million VND/tael (selling).

The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:30 a.m. and the price of 9999 gold was listed by Doji Jewelry Group at 8:39 a.m. as follows:

Buy Sell
SJC HCMC 74,980,000 VND/tael 76,980,000 VND/tael
Doji Hanoi 74,980,000 VND/tael 76,980,000 VND/tael
Doji HCMC 74,980,000 VND/tael 76,980,000 VND/tael

SJC and Doji gold price list updated early morning June 25

At the close of the session on June 24, the price of 9999 gold bars at SJC was 74.98 million VND/tael (buy) and 76.98 million VND/tael (sell). SJC listed the price of gold rings at 73.95-75.55 million VND/tael (buy - sell).

Doji Hanoi listed at 74.98 million VND/tael (buy) and 76.98 million VND/tael (sell). Doji Ho Chi Minh City bought SJC gold at 74.98 million VND/tael and sold at 76.98 million VND/tael.

Bao Tin Minh Chau listed the price of Golden Dragon gold rings at 74.66 - 75.96 million VND/tael (buy - sell).

The central exchange rate on June 25, 2024 announced by the State Bank is 24,253 VND/USD, down 9 VND compared to the previous trading session. The USD price at commercial banks this morning (June 25) was listed at 25,215 VND/USD (buy) and 25,465 VND/USD (sell).

International gold price today June 25, 2024

At 8:15 a.m. today (June 25, Vietnam time), the world spot gold price stood at around 2,329.3 USD/ounce, down 3.1 USD/ounce compared to last night. The gold futures price for August 2024 on the Comex New York floor was at 2,342.6 USD/ounce.     

On the morning of June 25, the world gold price converted to USD bank price was over 71.5 million VND/tael, excluding tax and fees, about 5.48 million VND/tael lower than the domestic gold price.

The price of gold on the Kitco floor (at 9:00 p.m., June 24, Vietnam time) was traded at $2,332.4/ounce, up 0.56% compared to the beginning of the session. The price of gold futures for August 2024 delivery on the Comex New York floor was traded at $2,340.5/ounce.

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World gold prices increase thanks to the weakening USD. Photo HH

At the beginning of the trading session on June 24 (US time), the world gold price increased thanks to the weakening of the USD. Analysts said that gold still maintained a price above 2,300 USD/ounce, which is a positive signal for the market. However, some other analysts said that in an increasingly unstable environment, any negative signal for gold will lead to a sell-off in the market, causing prices to fall very deeply.

Although gold's rally has slowed, many analysts say the factors that have supported the precious metal in recent times have not disappeared.

Concerns related to geopolitical instability remain a factor of concern for the market, especially ahead of the US election in November.

In addition, geopolitical instability is also causing the USD reserves of countries around the world to shrink and that is also a threat that global inflation remains high.

Central banks around the world and retail investors are increasing their exposure to the gold market, with 81% of the 70 central banks surveyed saying they would increase their gold reserves in the coming year, according to the World Gold Council.

Gold Price Forecast

Analysts at CPM Group predict that gold prices will be higher in the next week or two, during which time a series of political, economic and financial market issues could push the price of gold to $2,400 an ounce, or even $2,450 an ounce.

However, analysts also gave a warning forecast that the increase in gold prices may be short-lived and will dissipate after the first week of July.

Analysts predict that later this week, the US core personal consumption expenditure index report for May will be released, if the data is weaker, it could increase the possibility of the US Federal Reserve (Fed) cutting interest rates early in 2024, which will support the precious metal. Conversely, higher-than-expected data will cause gold to fall further.