SJC increased by 1 million VND/tael
Domestic gold bar prices skyrocketed today, each tael of gold increased by 1 million VND/tael compared to early yesterday morning.
Accordingly, gold bars of the brands SJC, PNJ, DOJI and Bao Tin Minh Chau are being bought at 117.5 million VND/tael (up 500,000 VND/tael) and sold at 120 million VND/tael (up 1 million VND/tael).
Phu Quy SJC Gold also increased by 700,000 VND/tael for buying and increased by 1 million VND/tael for selling, trading at 117 million VND/tael for buying - 120 million VND/tael for selling.
The price of gold rings of various brands was also adjusted to increase by 1 million VND/tael compared to yesterday morning.
Illustration photo. (Photo source: Internet)
Specifically, SJC listed gold rings at 113.5 million VND/tael for buying - 116 million VND/tael for selling.
The price of gold rings at DOJI is listed at 115 million VND/tael for buying - 117 million VND/tael for selling.
The price of gold rings at PNJ is listed at 113.5 million VND/tael for buying - 116.2 million VND/tael for selling.
Bao Tin Minh Chau listed the price of gold rings at 116 million VND/tael for buying - 119 million VND/tael for selling.
Phu Quy listed the price of gold rings at 114 million VND/tael for buying - 117 million VND/tael for selling.
Mi Hong listed the price of gold rings at 114.2 million VND/tael for buying - 115.7 million VND/tael for selling.
World gold price
According to Kitco, the world gold price recorded at 5:00 a.m. on June 14, Vietnam time, was at 3,422.03 USD/ounce. Today's gold price increased by 67.62 USD/ounce compared to yesterday. Converted according to the USD exchange rate at Vietcombank (26,223 VND/USD), the world gold price is about 112.7 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 7.23 million VND/tael higher than the international gold price.
Gold prices surged as investors rushed to buy the metal as a safe haven after Israeli airstrikes on Iran raised concerns about a wider conflict in the Middle East. Spot gold rose 1.2%, approaching its April 2025 record of $3,500.05. For the week, gold prices rose more than 3%.
According to experts, the move to attack Iranian targets has made the market worried about geopolitical risks. Daniel Pavilonis, senior market strategist at RJO Futures, said: "Gold prices will continue to be high as the market anticipates that Iran may retaliate, causing more instability."
Illustration photo. Photo source: Internet
Israel has launched a series of airstrikes on Iran, targeting nuclear facilities, missile factories and eliminating military commanders, in what could be a long-term campaign to prevent Tehran from developing nuclear weapons. US President Donald Trump said Iran brought the attack on itself by not complying with US demands to limit its nuclear program.
In addition to geopolitical factors, this week's slightly lower US inflation data also contributed to the gold price increase. This reinforced expectations that the Federal Reserve (Fed) will soon cut interest rates. Gold is considered a safe asset in times of economic uncertainty or geopolitical conflicts, and also benefits from low interest rates.
Meanwhile, in Asian markets like India, demand for physical gold has fallen sharply due to soaring prices. In India, gold prices have crossed the psychologically important threshold of 100,000 rupees, making consumers wary.
Asian and European stocks fell across the board, while US markets are expected to open sharply lower. The US dollar rose against other currencies, while WTI crude oil prices jumped to a five-month high, trading around $74 a barrel. The yield on the 10-year US Treasury note is currently at 4.34%.
Silver edged down 0.3% to $36.24 an ounce, but was still up nearly 1% for the week. Platinum, meanwhile, fell 3.9% to $1,244.91, despite a 6.3% weekly gain. Palladium also fell 0.3%, but was still up 0.7% for the week.
Technically, gold is in a strong short-term uptrend. The next target for bulls is to push the price above the key resistance level at $3,427.70 per ounce. Meanwhile, bears are hoping to push the price below the support level of $3,250. The immediate resistance levels are currently at $3,467 and $3,477.30, while the immediate support levels are at $3,400 and $3,358.50.
Goldman Sachs predicts that gold prices could reach $3,700 an ounce by the end of 2025 and $4,000 by mid-2026 thanks to strong demand from central banks. Bank of America (BofA) also believes that gold is likely to rise to $4,000 in the next 12 months.
Commerzbank made a rather positive assessment when predicting that gold prices could reach $3,400/ounce by the end of 2024 and continue to increase to $3,600/ounce by the end of 2025. These figures reflect a strong belief in gold's long-term growth potential.
According to Saxo Bank analysis, one of the key factors supporting gold prices is the steady buying demand from global central banks. This trend shows the strong confidence of large institutions in the sustainable value of gold, even when macroeconomic indicators do not clearly show safe-haven demand.
Central banks are actively diversifying their foreign exchange reserves, reducing their dependence on the US dollar and seeking stability in a volatile global economic environment. This strategy contributes to the continued appeal of gold as an important reserve asset.
Wells Fargo stressed that geopolitical factors and economic uncertainty will continue to be the main drivers of gold prices in the near term. The organization forecasts that gold buying by both private investors and central banks will continue to increase until at least 2026.
In the short term, Wells Fargo expects gold prices to correct slightly to $3,000-$3,200 per ounce by the end of 2024. However, the long-term outlook remains positive as the organization predicts gold prices could reach $3,600 per ounce by the end of 2026, reflecting sustained demand for the precious metal.
Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-14-6-2025-vang-the-gioi-vuot-xa-moc-3-400-usd-ounce/20250614080612612
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