World gold price drops sharply
At the end of the trading session on June 27, the price of SJC gold bars was listed by large enterprises at 117.7-119.7 million VND/tael (buy - sell), down 300,000 VND each way compared to the previous session. The price of plain gold rings was listed at 113.4-115.9 million VND/tael (buy - sell), down 400,000 VND in both buying and selling.
Domestic gold prices decreased in line with international prices. World gold prices were trading around 3,273 USD/ounce, down 51 USD compared to before and equivalent to 104.9 million VND/tael calculated according to the exchange rate excluding taxes and fees.
Domestic gold prices fell across the board (Photo: Manh Quan).
World gold prices are trending down sharply, on track to record a second consecutive week of decline. Soni Kumari, commodity strategist at ANZ Bank, said that market sentiment is tilted towards risky assets, thereby creating downward pressure on gold prices.
She assessed that the easing of tensions in the Middle East after the ceasefire agreement, along with progress in US-China trade negotiations, has helped reduce global instability and pulled down oil prices.
In another development, a White House official said that the US had reached an agreement with China, which also somewhat eased investor sentiment.
Markets are now focused on the Federal Reserve's preferred inflation gauge, the core personal consumption expenditures (PCE) price index, which is expected to rise 0.1% month-on-month and 2.6% year-on-year, according to a Reuters poll.
US President Donald Trump said inflation is under control, so the Fed should lower interest rates. However, so far only two Fed policymakers support cutting interest rates at the July meeting. Investors believe the Fed will likely cut interest rates starting in September.
In the coming weeks, experts believe that gold price movements will likely be driven mainly by Fed policy expectations and fluctuations in the strength of the US dollar, rather than geopolitical events.
Central rate continues to decrease
The USD-Index - a measure of the greenback's performance against six major currencies - fell 0.58% from the previous day to 97.1 points.
In the foreign exchange market, the central exchange rate was listed by the State Bank at 25,048 VND/USD, down 5 VND compared to the previous session. With a 5% amplitude, the ceiling and floor exchange rates are 26,300 VND/USD and 23,795 VND/USD, respectively.
The USD exchange rate listed by major banks is 25,880-26,270 VND (buy - sell), down 20 VND in both buying and selling directions. Meanwhile, at joint stock banks, the corresponding exchange rate for both buying and selling directions is 25,890-26,280 VND (buy - sell).
On the free market, the USD price is traded at 26,370-26,470 VND (buy - sell), unchanged from before.
Source: https://dantri.com.vn/kinh-doanh/gia-vang-mieng-sjc-quay-dau-giam-roi-moc-120-trieu-dongluong-20250627235749183.htm
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