At the end of the trading session on June 24, the price of SJC gold bars was listed by large enterprises at 117.5-119.5 million VND/tael (buy - sell), down 200,000 VND in both buying and selling compared to before.
The price of plain gold rings listed by businesses is 113.5-116 million VND/tael (buy - sell), also down 200,000 VND in both directions.
Domestic gold prices fell slightly while international prices evaporated by 55 USD/ounce. Specifically, the world gold price this morning (Vietnam time) was traded around 3,324 USD/ounce, down 55 USD, and down nearly 2% after a week. According to the exchange rate excluding taxes and fees, the precious metal is equivalent to 105.4 million VND/tael.
World gold price evaporated more than 55 USD/ounce in one session (Photo: Hai Long).
The global gold price plunged mainly due to the stabilization of the geopolitical situation after the ceasefire agreement between Iran and Israel took effect. As tensions eased, the demand for gold decreased significantly. Rising global stock markets and falling oil prices also put pressure on the precious metal.
In addition, investors are closely watching the upcoming speech of the US Federal Reserve Chairman (Fed) before Congress . The market is divided on interest rate policy, with expectations that the Fed will maintain a cautious stance instead of easing too quickly. This signal could continue to put short-term pressure on gold prices.
According to analysts, in the current context, investors should consider gold as a tool to diversify their portfolios, rather than simply a hedge against political risks. Although it is no longer attractive as a traditional safe haven, gold still plays an important role in asset risk management.
Julian Wee, an investment expert at UBS, said the real value of gold lies not only in its ability to protect against crises, but in its role as a diversifier in a long-term investment portfolio.
Central rate increased to record level
The USD-Index - a measure of the greenback's performance against six major currencies - rose 0.07% from the previous day to 97.93 points.
In the foreign exchange market, the central exchange rate at the end of the session on June 24 was listed by the State Bank at 25,058 VND/USD, up 30 VND compared to yesterday and the highest level since the beginning of the year. With a 5% amplitude, the ceiling and floor exchange rates are 26,310 VND/USD and 23,805 VND/USD, respectively.
The USD exchange rate listed by major banks is 25,960-26,310 VND (buying - selling), an increase of 31 VND in the selling direction. At joint stock banks, the corresponding exchange rate for both buying and selling directions is 25,950-26,310 VND (buying - selling), also an increase of 30 VND in both buying and selling directions. All banks listed the USD selling price at the ceiling price.
In the free market, the USD price is traded at 26,320-26,420 VND (buy - sell), up 25 VND in both buying and selling directions.
Source: https://dantri.com.vn/kinh-doanh/gia-vang-the-gioi-lao-doc-giam-55-usdounce-ty-gia-trung-tam-tang-ky-luc-20250625072820435.htm
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