SJC gold bar price turns down, leaves the 120 million VND/tael mark

(Dan Tri) - Domestic gold prices fell across the board as world prices lost the 3,300 USD/ounce mark as tensions in the Middle East eased.

World gold prices fall sharply.

At the close of trading on June 27th, the price of SJC gold bars was listed by major businesses at 117.7-119.7 million VND/ounce (buy-sell), a decrease of 300,000 VND in both directions compared to the previous closing session. The price of plain gold rings was listed at 113.4-115.9 million VND/ounce (buy-sell), a decrease of 400,000 VND in both buying and selling prices.

Domestic gold prices fell in line with international trends. World gold prices traded around $3,273 per ounce, down $51 from the previous day and equivalent to VND 104.9 million per tael (approximately 37.5 grams) based on the exchange rate excluding taxes and fees.

Domestic gold prices have fallen across the board (Photo: Manh Quan).

Global gold prices are trending sharply downward, on track to record their second consecutive weekly decline. Soni Kumari, a commodity strategist at ANZ Bank, believes that market sentiment is leaning towards riskier assets, thereby putting downward pressure on gold prices.

She assessed that the easing of tensions in the Middle East following the ceasefire agreement, along with progress in US-China trade negotiations, has helped reduce global instability and driven oil prices down.

In other developments, a White House official said that the US had reached an agreement with China, which somewhat eased investor sentiment.

The market is currently focusing its attention on the core personal consumption expenditures (PCE) price index report, the Federal Reserve's preferred measure of inflation. The latest Reuters survey forecasts this index to rise 0.1% month-on-month and 2.6% year-on-year.

US President Donald Trump believes inflation is under control, therefore the Fed should lower interest rates. However, so far only two Fed policymakers have supported cutting interest rates at the July meeting. Investors, meanwhile, believe the Fed is likely to begin cutting interest rates in September.

In the coming weeks, experts believe that gold price movements will likely be primarily driven by expectations regarding Fed policy and fluctuations in the strength of the US dollar, rather than geopolitical events.

The central exchange rate continues to fall.

The USD-Index – a measure of the dollar's fluctuations against six major currencies – fell 0.58% from the previous day, to 97.1 points.

In the foreign exchange market, the central exchange rate listed by the State Bank of Vietnam is 25,048 VND/USD, a further decrease of 5 VND compared to the previous session. With a 5% margin, 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 (buying - selling), a decrease of 20 VND in both buying and selling rates. Meanwhile, at joint-stock banks, the corresponding exchange rate for buying and selling is 25,890-26,280 VND (buying - selling).

In the free market, the USD exchange rate is trading at 26,370-26,470 VND (buying - selling), unchanged from before.

Source: https://dantri.com.vn/kinh-doanh/gia-vang-mieng-sjc-quay-dau-giam-roi-moc-120-trieu-dongluong-20250627235749183.htm