Gold price today goes down
Early on June 28, the world gold price closed at 3,274 USD/ounce, down sharply by 55 USD compared to the highest level in last night's trading session (3,329 USD/ounce).
The buoyant US stock market was one of the main reasons for the drop in gold prices today. The major indexes all rose: Dow Jones rose 432 points, Nasdaq rose 105 points, and S&P 500 rose 32 points. This growth may have prompted investors to sell gold and transfer capital to the stock market.
Investors’ shift from gold to other assets was underpinned by positive developments in US-China trade relations. This optimism has driven capital flows into technology and growth sectors, which continue to attract institutional investors.
Meanwhile, gold – a traditional safe haven – is losing its appeal as geopolitical tensions ease, especially after the ceasefire between Israel and Iran. Analysts say geopolitical risks, which have been a major driver of gold’s price gains, are “evaporating” faster than expected.
In Vietnam, the price of SJC gold continues to be affected by the downward trend of the world market. As of the end of June 27, the price of SJC gold was listed at 119.7 million VND/tael (selling price), while the price of gold rings was at 115.9 million VND/tael.
Source: https://nld.com.vn/gia-vang-hom-nay-28-6-sut-giam-manh-196250628062513165.htm
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