Gold prices fluctuated strongly last week
At the opening of the trading session on June 16, the price of SJC gold bars was listed by large enterprises at 118.5-120.5 million VND/tael (buy - sell), an increase of 700,000 VND for buying and 200,000 VND for selling compared to the closing price last week. The current difference between the two buying and selling prices is 2 million VND/tael.
The price of plain gold rings was also adjusted by businesses to increase by 200,000 VND each way, listed at 113.9-116.4 million VND/tael (buy - sell).
Domestic gold prices increased continuously last week in the context of world prices exceeding 3,400 USD/ounce (Photo: Tien Tuan).
On the international market, the world gold price is around 3,430 USD/ounce. According to the exchange rate excluding taxes and fees, the precious metal is equivalent to 109 million VND/tael. Last week, the highest price recorded for the precious metal was 3,446 USD/ounce.
The latest Kitco News weekly gold survey shows that experts and investors remain optimistic about the outlook for gold prices.
Specifically, of the 14 experts participating in the survey, 10 experts (71%) predicted that gold prices would increase, one expert (7%) said that gold prices would decrease, and the remaining 3 experts (21%) said that gold prices would remain unchanged next week. Meanwhile, an online survey of 253 investors showed that 146 investors (58%) expected prices to increase, 54 investors (21%) predicted prices would decrease, and 53 investors (21%) said prices would remain unchanged next week.
The main catalyst for gold’s recent rally has been the escalation of tensions in the Middle East between Israel and Iran. The political conflict has triggered a sell-off in stocks and a spike in oil prices. At the same time, safe-haven demand has sent gold prices soaring.
The surge in gold prices reflects not only geopolitical uncertainty but also a larger shift in global reserve strategies.
Gold is set to overtake the euro as the world’s second-most important reserve asset by 2024, thanks to record central bank purchases, according to the latest data from the European Central Bank (ECB) report. The US dollar remains dominant with a 46% share of global reserves, followed by gold at 20% and the euro at 16%.
Banks list USD selling price at ceiling price
USD-Index - a measure of the greenback's volatility against six major currencies - fell 1.07% last week to 98.14 points.
The US dollar has seen notable volatility over the past week, influenced by a number of economic , political and geopolitical factors. Events such as US-China trade negotiations, inflation data, US Federal Reserve policy and geopolitical tensions in the Middle East have had a strong impact on the value of the US dollar.
In the foreign exchange market, the central exchange rate ended last week listed by the State Bank at 24,975 VND/USD. With a 5% margin compared to the central exchange rate, the ceiling rate applied is 26,223 VND/USD and the floor rate is 23,726 VND/USD.
The USD exchange rate listed by major banks is 25,833-26,223 VND (buying - selling), up 10 VND in both directions compared to the previous day. Meanwhile, at joint stock banks, the corresponding exchange rate for both buying and selling is 25,830-26,223 VND, unchanged from the previous day.
On the free market, the USD price is traded at 26,280-26,380 VND (buy - sell), unchanged from before.
Source: https://dantri.com.vn/kinh-doanh/gia-vang-hom-nay-ngay-166-vang-mieng-sjc-len-1205-trieu-dongluong-20250616004225974.htm
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