SJC gold price has not moved, the world is waiting for news from the US, "sharks" in China reduce buying

Gold price today June 27, 2024 recorded SJC continued to be "unmoving" while the world market decreased slightly. Precious metal prices continue to be mainly affected by US interest rate expectations.

LIVE UPDATE TABLE OF GOLD PRICE TODAY 6/27 and EXCHANGE RATE TODAY 6/27

1. SJC - Updated: 06/26/2024 08:34 - Website time of supply source - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
SJC 1L, 10L, 1KG	74,980	76,980
SJC 5c	74,980	77,000
SJC 2c, 1c, 5c	74,980	77,010
SJC 99.99 gold ring 1 chi, 2 chi, 5 chi	73,850 ▼100K	75,450 ▼100K
SJC 99.99 gold ring 0.3 chi, 0.5 chi	73,850 ▼100K	75,550 ▼100K
Jewelry 99.99%	73,750 ▼100K	74,750 ▼100K
Jewelry 99%	72,010 ▼99K	74,010 ▼99K
Jewelry 68%	48,485 ▼68K	50,985 ▼68K
Jewelry 41.7%	28,824 ▼42K	31,324 ▼42K

Update gold price today June 27, 2024

Domestic gold prices continued to remain stable, with the selling price of SJC gold bars at 76.98 million VND/tael, unchanged. Thus, the price of SJC gold has been "unchanged" for the 17th consecutive session.

Meanwhile, 9999 gold rings turned to decrease. SJC Company listed at 73.9 million VND/tael for buying and 75.5 million VND/tael for selling, down 50,000 VND for both buying and selling compared to yesterday. Doji Group traded at 74.45 million VND/tael for buying and 75.75 million VND/tael for selling, down 250,000 VND for both buying and selling.

The State Bank of Vietnam (SBV) continues to sell SJC gold bars to people through four state-owned commercial banks and SJC Company.

Currently, these 5 units are selling gold online to people.

Thus, after more than 3 weeks of the State Bank selling SJC gold bars to stabilize gold prices, the difference between domestic and international SJC gold bar prices has narrowed significantly, currently only about 6 million VND/tael compared to the peak in May 2024 of up to 18-20 million VND/tael.

World gold prices fell before the release of important US economic data, which could shed light on when the US Federal Reserve (Fed) will cut interest rates this year.

The dollar rose 0.1% against rivals, making gold more expensive for buyers using other currencies, while 10-year bond yields also rose.

According to TG&VN at 7:20 p.m. on June 26, the world gold price on the Kitco exchange was at 2,315.4 - 2,316.4 USD/ounce, down 4 USD compared to the previous trading session.

Higher bond yields and a stronger US dollar on hawkish comments from the Fed have weakened gold prices this morning, said Yeap Jun Rong, market strategist at IG.

On June 25, US Fed Governor Michelle Bowman reiterated her view that keeping policy rates steady for a period of time is enough to control inflation, but also reiterated that she is ready to raise borrowing costs if needed.

Meanwhile, Fed Governor Lisa Cook said that at some point interest rates will have to be cut.

Gold price today June 27, 2024: SJC gold price has not moved, the world is waiting for news from the US, 'sharks' in China reduce buying. (Source: Reuters)

Summary of SJC gold bar prices at major domestic trading brands at closing times of trading sessions last week (June 26):

Saigon Jewelry Group listed SJC gold price at: 74.98 - 76.98 million VND/tael

Doji Group listed SJC gold price at: 75.30 - 76.98 million VND/tael.

PNJ system listed at: 74.98 - 76.98 million VND/tael.

Phu Quy Gold and Silver Group listed at: 75.50 - 76.98 million VND/tael.

SJC gold price at Bao Tin Minh Chau is listed at: 75.50 - 76.98 million VND/tael.

Gold will continue to be supported

Investors are now awaiting data on the US first-quarter gross domestic product, which will be released on June 27, and the personal consumption expenditures (PCE) price index, which is scheduled to be released on June 28 (local time).

It is an important measure of the health of the US economy, used by investors, economists and policymakers to assess the effectiveness of monetary policy and forecast future economic trends.

Gold prices continue to be largely influenced by US interest rate expectations, said Ricardo Evangelista, an expert at ActivTrades. The stability in recent sessions reflects the lack of strong signals on the Fed's monetary policy.

Meanwhile, Chantelle Schieven, head of research at Capitalight Research, expects the Fed to quickly cut interest rates if the economy begins to weaken significantly, even if inflation remains high. In addition, geopolitical instability is also a factor supporting gold in the long term.

Meanwhile, precious metals experts at Heraeus said that gold will continue to be supported by strong central bank buying even as Chinese buying slows.

The People’s Bank of China (PBoC) halted gold purchases in May after 18 consecutive months of net inflows. However, the lack of reported additions to China’s central bank gold holdings does not necessarily mean that official holdings in other institutions (such as sovereign wealth funds) have stopped.

Experts cite the latest survey results of the World Gold Council showing that most central banks said they would increase their gold holdings in the coming time.

Source: https://baoquocte.vn/gia-vang-hom-nay-2762024-gia-vang-sjc-chua-nhich-the-gioi-cho-tin-my-ca-map-o-trung-quoc-giam-mua-276404.html