Gold prices on June 23rd: A sharp reversal across the board.

World gold prices today (June 23) faced strong selling pressure, trading at $4,138.3 per ounce, amidst a surge in the US dollar index and continued rise in US bond yields. Domestically, the prices of SJC gold bars and rings reversed course and fell in line with world prices, listed at VND 148 million/ounce and VND 147.9 million/ounce respectively.

In today's trading session (June 23), the prices of gold bars and gold rings from domestic brands all decreased after yesterday's sharp increase. Meanwhile, on the international market, the price of gold reversed its trend and fell, retreating to the 4,100 USD/ounce mark.

Specifically, at 11:30 AM on June 23rd, Saigon Jewelry Company (SJC) listed the buying and selling price of SJC gold bars at 145-148 million VND/ounce, a decrease of 600,000 VND per ounce in both buying and selling prices compared to the closing price of the previous day. The buy-sell spread was 3 million VND.

Gold price statistics from Rong Viet Online Services Joint Stock Company (VDOS) - Updated at 11:30 AM on June 23rd.

The buying price of SJC 9999 gold rings is 144.9 million VND/ounce, and the selling price is 147.9 million VND/ounce, a decrease of 600,000 VND/ounce in both directions (buying and selling).

Meanwhile, the price of DOJI gold bars in Hanoi and Ho Chi Minh City was 145 million VND/ounce for buying and 148 million VND/ounce for selling, a decrease of 600,000 VND per ounce in both buying and selling prices compared to the previous day's closing price.

This brand listed the price of Doji Hung Thinh Vuong 9999 gold rings at 145-148 million VND/ounce, a decrease of 600,000 VND/ounce in both buying and selling prices compared to the closing price of yesterday's trading session.

PNJ listed gold at 144.9 million VND/ounce for buying and 147.9 million VND/ounce for selling, a decrease of 600,000 VND per ounce in both buying and selling prices compared to the previous closing session.

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On the same day, Bao Tin Manh Hai Gold, Silver and Gemstone Joint Stock Company listed the buying and selling prices of gold bars at 145-148 million VND/ounce. The price of Kim Gia Bao 24K gold rings traded at 144.3-147.8 million VND/ounce (buying-selling).

Bao Tin Minh Chau lists the price of 9999 gold rings at 144.5-148 million VND/ounce (buying price - selling price). The difference between buying and selling is 4 million VND/ounce.

As of 11:30 AM on June 23rd (Vietnam time), the world gold price decreased by $52.4/ounce compared to the previous day's closing price, falling to $4,138.3/ounce.

World gold price chart on June 23. (Image: kitco.com)

Despite gradually cooling energy prices amid positive signals from US-Iran negotiations easing inflation concerns, gold remains under downward pressure due to a stronger US dollar and continued rising US bond yields amid the Federal Reserve's hawkish monetary stance.

Following its meeting on June 17th, the FED announced it would keep interest rates unchanged at 3.5%-3.75%, while also signaling a possible rate hike later this year to stabilize prices.

Data from CME's FedWatch Tool shows that the interest rate futures market is betting on a 70% chance that the Fed will raise interest rates between now and September.

Although often seen as a hedge against inflation, a high-interest-rate environment reduces the attractiveness of gold because the precious metal does not yield returns like other investment channels.

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Investors are currently awaiting the release of US personal consumption expenditure (PCE) data later this week, seeking further clues about the Fed's monetary policy path.

Today, the USD-Index stands at 101.01 points; the yield on 10-year US Treasury bonds is currently fluctuating around 4.5%; the US stock market declined as technology stocks faced strong selling pressure; world oil prices fell following positive signals from the US and Iran, trading around $77.63 per barrel for Brent crude and $73.72 per barrel for WTI crude.

Source: https://baolaocai.vn/gia-vang-ngay-236-dong-loat-dao-chieu-giam-manh-post902293.html