Specifically, the spot gold price was at 3,270 USD/ounce, down 1.68% compared to the beginning of the session. The gold futures price for August 2025 delivery on the Comex New York floor traded at 3,285 USD/ounce.
The geopolitical situation in the Middle East is showing signs of cooling down, contributing to positive sentiment in global financial markets.
Notably, the Trump administration announced that the US and China had officially signed a new trade agreement, ending months of tense negotiations. Details of the agreement have not been made public, but it has contributed to creating a positive sign for investors to look to the stock and commodity markets instead of focusing on investing in gold as before.
Daniel Pavilonis, senior strategist at RJO Futures, said the easing of geopolitical tensions has prompted investors to take profits, especially after previous concerns about the risk of conflict with China and the situation in the Middle East. Currently, the ceasefire between Iran and Israel is still maintained, after some minor clashes earlier.
In addition, new data showed that American consumer spending unexpectedly fell in May, after a wave of early purchases of items such as cars in anticipation of higher tariffs temporarily subsided. This has led markets to bet that the Federal Reserve will cut interest rates by a total of 75 basis points in 2025, possibly starting in September.
However, according to Mr. Pavilonis, economic factors do not have much impact on the current gold price, because the selling trend mainly comes from geopolitical changes. When the world situation is stable, investors tend to switch to riskier assets. In addition, high interest rates continue to reduce the attractiveness of gold.
Gold price movements today
+ Domestic gold price
At 6:00 a.m. on June 28, the price of SJC gold bars was traded at 117.7-119.7 million VND/tael (buy - sell), down 300,000 VND/tael compared to the previous session's close.
Meanwhile, the price of 1-5 chi SJC gold rings was listed at 113.4-115.9 million VND/tael (buy - sell), down 400,000 VND/tael compared to the previous session's closing price.
The price of 9999 gold rings at Doji is at 114.5-116.5 million VND/tael, down 500,000 VND/tael compared to the previous session's close.
+ International gold price
The world spot gold price was at 3,270 USD/ounce, down 1.68% compared to the beginning of the session. The gold futures price for August 2025 delivery on the Comex New York floor traded at 3,285 USD/ounce.
Gold Price Forecast
According to Mr. David Meger, Director of Metal Trading at High Ridge Futures, gold prices have experienced several recent declines, affected by two main factors: the cooling situation in the Middle East and concerns about inflation.
Easing tensions in the Middle East have reduced safe-haven demand for the precious metal, Meger said, adding that markets are betting on the possibility that the Fed will delay its rate cut. Rising inflation expectations, particularly from potential tariffs under President Donald Trump, have added to the downward pressure on gold.
Meanwhile, Soni Kumari, commodity strategist at ANZ Bank, said the market is quite optimistic about risk assets, which is putting pressure on gold prices.
Tensions in the Middle East have eased following a ceasefire agreement and progress in US-China trade negotiations is easing market uncertainty, pushing gold prices further down.
Source: https://baolangson.vn/gia-vang-hom-nay-28-6-trong-nuoc-va-the-gioi-dong-loat-giam-5051446.html
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