At the end of the session on June 28, the price of SJC gold bars was traded at 117.2-119.2 million VND/tael (buy - sell), down 500,000 VND/tael compared to the previous session.

The price of 1-5 chi gold rings of SJC is listed at 113.2-115.7 million VND/tael (buy - sell), down 200,000 VND/tael; the price of 9999 gold rings at Doji is at 114-116 million VND/tael, down 500,000 VND/tael compared to the previous session's closing price.

According to Kitco, spot gold prices closed the week at $3,272/ounce. Gold futures for August 2025 delivery on the Comex New York floor traded at $3,284/ounce.

Economic data from the US Bureau of Economic Analysis showed that the personal consumption expenditures (PCE) index - the Federal Reserve's preferred inflation gauge - increased 2.3% in May compared to the same period last year, up from 2.1% in April, in line with the FactSet consensus estimate.

More worryingly, core PCE (which strips out food and energy prices) rose to 2.7% from 2.5%, beating the consensus forecast of 2.6%.

gold price - buy and sell gold-10.jpg
Gold price decreased at the end of the week. Photo: Chi Hieu

Despite rising inflation, bond markets and interest rate futures showed limited reaction. Markets were pricing in just a 20% chance of a rate cut by the Federal Open Market Committee in July, but that rose to 75% by September.

A weaker dollar and expectations of interest rate cuts did not help gold, suggesting that traditional safe-haven demand is giving way to risk appetite as investors turn to other growth assets. The Nasdaq Composite and S&P 500 both hit new record highs.

Adding to the risk-on environment is growing optimism around U.S.-China trade relations. A trade deal finalized on Thursday regarding expedited shipments of rare earths to the United States was seen as a positive step toward resolving the ongoing tariff dispute between the world’s two largest economies.

Investors are shifting their bets, experts say, away from the safe havens they once held, and toward riskier assets, especially those expected to benefit from a rebound in global trade.

Gold Price Forecast

Experts from Saxo Bank pointed out that even when traditional factors that are favorable for gold such as the US dollar and bond yields fall, gold still cannot bounce. This shows that the gold market is in a "stable" state, even at the risk of a deeper correction.

As geopolitical tensions ease and global economic growth prospects improve, demand for gold as a safe haven appears to be waning.

For now, gold seems to be waiting for a clear signal. If inflation persists, geopolitical tensions flare up again or economic uncertainty increases, safe-haven demand for gold could be boosted.

Michael Moor, founder of Moor Analytics, predicted a "pause" period for many investment channels.

Looking at price data over short periods of time, gold prices tend to fall unless they break above a certain level. This indicates an important resistance level that the market needs to break to change the trend.

Michael Moor's comments suggest that the gold market is at a crossroads, where previously strong growth trends appear to be stalling, awaiting clearer signals to shape the next move.

Source: https://vietnamnet.vn/gia-vang-hom-nay-29-6-2025-di-xuong-vang-mieng-sjc-giam-500-000-dong-luong-2416106.html