Gold price today, June 6: Unexpected sharp drop

(NLDO) - Gold prices today plummeted after a session of price increases, as investors rushed to sell to take profits.

Gold price today dropped sharply

At 6:00 a.m. this morning, June 6, the spot gold price on the international market dropped sharply to 3,358 USD/ounce - down 46 USD compared to the peak of 3,404 USD/ounce recorded in last night's trading session.

Similarly, the price of gold for August 2025 delivery was not out of the downward trend, falling to $3,376/ounce - down $26 from the previous session.

The decline came as investors aggressively booked profits after gold prices hit a four-week high.

According to analysts, the reason for today's gold price plunge may be due to the fact that global gold investment funds sold more than 19 tons in May 2025, as reported by the latest report of the World Gold Council (WGC). This information has triggered a wave of profit-taking, creating great pressure on today's gold price.

A report from Swiss-based commodity trading firm Trafigura warned of strong volatility in the gold market in the short term, due to geopolitical and macroeconomic uncertainties, along with the threat of rising inflation. Meanwhile, the US dollar weakened slightly, allowing gold prices to recover somewhat but not enough to offset the selling pressure.

In Vietnam, at the end of June 5, the price of SJC gold was listed at 117.7 million VND/tael for sale, while the price of gold rings was 114 million VND/tael.

Source: https://nld.com.vn/gia-vang-hom-nay-6-6-bat-ngo-sut-giam-rat-manh-196250606062507057.htm