Domestic gold price this afternoon June 1, 2024
At the time of survey at 2:00 p.m. on June 1, 2024, the gold price today, June 1, on the trading floors of some companies is as follows:
The price of SJC gold listed by the gold house is 81.00 million VND/tael for buying and 84.00 million VND/tael for selling. The gold price decreased by 3 million VND/tael for buying and 3.5 million VND/tael for selling compared to the same trading session yesterday.
DOJI listed the price of 9999 gold this afternoon at VND80.95 million/tael for buying and VND83.5 million/tael for selling. The gold price decreased by VND3 million/tael for buying and by VND3.45 million/tael for selling.
At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at VND81.00 - 83.00 million/tael (buy - sell). The gold price decreased by VND3.2 million/tael for buying and VND3.8 million/tael for selling.
SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 80.95 - 83.45 million VND/tael (buy - sell). Gold price decreased by 3 million VND/tael for buying and decreased by 3.4 million VND/tael for selling. Meanwhile, at Bao Tin Manh Hai, it is being traded at 81.10 - 83.90 million VND/tael (buy - sell). Gold price decreased by 2.85 million VND/tael for buying and decreased by 3.05 million VND/tael for selling.
Gold bar prices continued to drop this afternoon, with gold brands recording the biggest drop in buying prices of 3.2 million VND/tael and the biggest drop in selling prices of 3.8 million VND/tael, causing the gold price to plummet to 84 million VND/tael. The difference between buying and selling prices is at a high level, ranging from 3 to 3.5 million VND/tael.
Gold bars fell sharply when the State Bank of Vietnam (SBV) changed the way it stabilized the market. Accordingly, up to the time of the current survey, SJC gold bars had lost more than 6 million VND after only 02 days after the SBV announced a change in the way it stabilized prices.
Previously, the management agency organized a gold auction with the aim of increasing the supply of gold bars to reduce the difference in domestic gold prices compared to world gold prices. With 9 auctions, the State Bank supplied the market with 48,500 taels of SJC gold bars (about more than 1.8 tons of gold), but the price of gold bars still did not show any signs of cooling down.
Therefore, the State Bank continues to switch to the method of selling gold directly to 4 large state-owned commercial banks including: Agribank , BIDV, VietinBank and Vietcombank at a price determined by this unit based on world prices and the management goal of reducing the difference between domestic and international prices compared to the present.
Regarding 9999 plain round gold rings in today's trading session: The price of 9999 gold rings at Bao Tin Minh Chau is listed at 74.23 - 75.63 million VND/tael (buy - sell). The price of 9999 Hung Thinh Vuong round gold rings at DOJI Gold and Gemstone Group is listed at 74.15 - 75.75 million VND/tael (buy - sell).
The central exchange rate listed by the State Bank is 24,261 VND/USD, up 3 VND/USD. The USD price at commercial banks is traded around 25,224 VND/USD for buying and 25,474 VND/USD for selling.
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| Gold price today June 1, 2024, SJC gold price, 9999 gold price, 24k gold price, 18k gold price June 1, 2024. Photo: Can Dung |
| 1. DOJI - Updated: 06/01/2024 17:54 - Time of the source website - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| AVPL/SJC HN | 80,950 ▼2100K | 82,750 ▼3200K |
| AVPL/SJC HCM | 80,950 ▼2100K | 82,750 ▼3200K |
| AVPL/SJC DN | 80,950 ▼2100K | 82,750 ▼3200K |
| Raw material 9999 - HN | 73,600 ▼500K | 74,500 ▼250K |
| Raw material 999 - HN | 73,500 ▼500K | 74,400 ▼250K |
| AVPL/SJC Can Tho | 80,950 ▼2100K | 82,750 ▼3200K |
| 2. PNJ - Updated: June 1, 2024 5:29 PM - Website supply time - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 74,000 ▼600K | 75,800 ▼600K |
| HCMC - SJC | 80,950 ▼2100K | 83,000 ▼2950K |
| Hanoi - PNJ | 74,000 ▼600K | 75,800 ▼600K |
| Hanoi - SJC | 80,950 ▼2100K | 83,000 ▼2950K |
| Da Nang - PNJ | 74,000 ▼600K | 75,800 ▼600K |
| Da Nang - SJC | 80,950 ▼2100K | 83,000 ▼2950K |
| Western Region - PNJ | 74,000 ▼600K | 75,800 ▼600K |
| Western Region - SJC | 81,000 ▼2000K | 83,500 ▼3500K |
| Jewelry gold price - PNJ | 74,000 ▼600K | 75,800 ▼600K |
| Jewelry gold price - SJC | 80,950 ▼2100K | 83,000 ▼2950K |
| Jewelry gold price - Southeast | PNJ | 74,000 ▼600K |
| Jewelry gold price - SJC | 80,950 ▼2100K | 83,000 ▼2950K |
| Jewelry gold price - Jewelry gold price | PNJ Ring (24K) | 74,000 ▼600K |
| Jewelry Gold Price - 24K Jewelry | 73,900 ▼600K | 74,700 ▼600K |
| Jewelry Gold Price - 18K Jewelry | 54,780 ▼450K | 56,180 ▼450K |
| Jewelry Gold Price - 14K Jewelry | 42,450 ▼350K | 43,850 ▼350K |
| Jewelry Gold Price - 10K Jewelry | 29,830 ▼250K | 31,230 ▼250K |
World gold price this afternoon June 1, 2024 and chart of world gold price fluctuations in the past 24 hours
According to Kitco, the world gold price recorded at 2:00 p.m. today, Vietnam time, was at 2,329.15 USD/ounce. This afternoon's gold price decreased by 13.36 USD/ounce compared to yesterday's gold price. Converted according to the current exchange rate at Vietcombank, the world gold price is about 70.548 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 10.452 million VND/tael higher than the international gold price.
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| Gold price fluctuation chart in the last 24 hours |
The world spot gold price stood at 2,329.15 USD/ounce, down more than 13 USD/ounce compared to the same session yesterday.
The yellow metal fell as the market digested the most-anticipated data of the week, the personal consumption expenditures (PCE) index. The US Commerce Department reported that the core personal consumption expenditures (PCE) price index, which excludes food and energy, rose 0.2% in April from March, in line with economists polled by Dow Jones.
The PCE index rose 2.8% year-over-year, slightly above the 2.7% forecast. Including food and energy prices, the overall PCE rose 2.7% year-over-year and 0.3% month-over-month, both in line with economists' forecasts.
In addition to the PCE, the Commerce Department also released data on income and spending. Personal income rose 0.3% in April, matching estimates, while spending rose just 0.2%, below forecasts and the 0.7% increase in March. The low PCE increase will help the Federal Reserve consider cutting interest rates soon.
The CME FedWatch tool currently shows a 50.5% chance of a Fed rate cut in September, with a 45.1% chance of a 25 basis point cut and a 5.4% chance of a 50 basis point cut. Fed officials have recently taken a tougher stance on a longer path to achieving their 2% inflation target.
Although inflation rose in line with expectations, increasing the possibility that the Fed will cut interest rates this year, gold continued to fall.
Gold Price Forecast
Gold's retreat after a modest gain following the PCE report suggests short-term exhaustion for the precious metal after a remarkable rally this year, said independent metals trader Tai Wong.
Mr. Bart Melek - Head of commodity strategy at TD Securities said that gold prices cannot skyrocket because they depend on the FED's moves and economic data in the coming time.
Precious metals are being weighed down by the Fed's aggressive interest rate stance, but some experts remain bullish on gold prices in the medium to long term.
According to gold market expert Matt Simpson, gold prices could trade in the range of $2,280-2,300/ounce, if US economic data continues to be positive.
Source: https://congthuong.vn/gia-vang-chieu-nay-162024-gia-vang-sjc-rot-the-tham-tuot-thang-xuong-moc-84-trieu-dongluong-323619.html
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