Gold price on June 17: SJC gold bars slide, lose the 120 million VND/tael mark

In today's trading session, gold price Domestic and international brands are all down.

Specifically, at 11:30 a.m. on June 17, Saigon Jewelry Company (SJC) listed the buying and selling price of SJC gold bars at 117.6-119.6 million VND/tael, unchanged in both buying and selling prices compared to the previous session. The difference between buying and selling prices was 2 million VND.

Gold price statistics of Dragon Viet Online Service Joint Stock Company VDOS - Updated at 11:30 am on June 17.

The price of SJC 9999 gold ring is 113.7 million VND/tael for buying and 116.2 million VND/tael for selling, unchanged in both buying and selling prices.

Meanwhile, DOJI gold bar price in Hanoi and Ho Chi Minh City was bought at 117.6 million VND/tael and sold at 119.6 million VND/tael, unchanged in both directions (buying-selling) compared to the previous session's close.

This brand lists its prices at gold ring Doji Hung Thinh Vuong 9999 remained unchanged in both buying and selling prices compared to yesterday's closing price, trading at 115-117 million VND/tael, respectively.

PNJ Gold listed buying price at 114 million VND/tael and selling price at 116.8 million VND/tael, an increase of 1 million VND/tael for buying and 200 thousand VND/tael for selling compared to the previous session.

As of 11:30 a.m. on June 17 (Vietnam time), the world gold price was trading at 3,387.52 USD/ounce.

World gold prices cooled down after a volatile trading week with a strong breakout due to escalating Middle East conflicts.

World gold price chart on June 17. (Photo: kitco.com)

The main reason was recorded as profit-taking activities from investors after the recent sharp increase in gold prices, combined with risk-off sentiment when the US and international stock markets simultaneously increased.

In addition, the factor that caused gold prices to fall at the beginning of the week was that the conflict did not affect global oil supplies.

Analysts say that as long as crude oil prices do not spike, investor sentiment will remain relatively stable. However, the risk of Iran blocking the Strait of Hormuz – a route for transporting 20% of global crude oil – remains a potential risk factor.

The market is now awaiting information from the two-day policy meeting of the US Federal Reserve (FED) which ends this Wednesday. Most likely, the US central bank will keep interest rates unchanged.

Today, the USD-Index was at 98.09 points; the yield on 10-year US Treasury bonds fell to 4.438%; US stocks rose sharply; world oil prices turned down, trading at 73.6 USD/barrel for Brent oil and 70.79 USD/barrel for WTI oil.

Source: https://baoquangninh.vn/gia-vang-ngay-17-6-vang-mieng-sjc-truot-doc-mat-moc-120-trieu-dong-luong-3362907.html