Domestic gold price remained stable last week, buyers still lost 2 million VND per tael

Domestic gold price this afternoon June 16, 2024

At the time of survey at 1:30 p.m. on June 16, 2024, the gold price today, June 16 , on the trading floors of some companies is as follows:

The price of SJC gold listed by the gold house is 74.98 million VND/tael for buying and 76.98 million VND/tael for selling.

This afternoon, DOJI listed the price of 9999 gold at 74.98 million VND/tael for buying and 76.98 million VND/tael for selling.

At Mi Hong Gold and Gemstone Company, the price of Mi Hong gold at the time of survey listed the price of SJC gold at 76.00 - 76.98 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 75.50 - 76.98 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 76,000 - 76.98 million VND/tael (buy - sell). Gold price increased by 200,000 VND/tael for buying.

The price of SJC gold bars last week was flat, compared to the closing price of the previous trading session, this week the price has not changed, however the difference between the listed buying and selling price of gold is at a high level of about 2 million VND/tael, which makes gold buyers face heavy losses. Therefore, if you buy gold at SJC Company on June 9 and sell it today, June 16, you will lose 2 million VND/tael, similarly, DOJI also recorded the same loss.

Ring gold continued to record an increase of nearly 1 million VND per tael compared to the previous trading week. Specifically, at SJC Company, the price of 9999 round smooth ring gold is currently listed at 73.35-74.95 million VND/tael (buy in - sell out). Compared to the closing price of the previous trading session, the ring gold price of this unit increased by 750,000 VND/tael for both buying and selling.

The price of 9999 gold rings at Bao Tin Minh Chau is listed at 74.18-75.48 million VND/tael (buy - sell). Compared to the closing price of the previous trading session, the price of gold rings at this unit increased by 800,000 VND/tael for both buying and selling.

The central exchange rate listed by the State Bank is 24,249 VND/USD, up 4 VND/USD. The USD price at commercial banks is traded around 25,191 VND/USD for buying and 25,461 VND/USD for selling.

Gold price today June 16, 2024, SJC gold price, 9999 gold price, 24k gold price, 18k gold price June 16, 2024. Photo: Tra My

1. DOJI - Updated: June 16, 2024 09:32 - Source website time - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
AVPL/SJC HN	74,980	76,980
AVPL/SJC HCM	74,980	76,980
AVPL/SJC DN	74,980	76,980
Raw material 9999 - HN	73,700	74,250
Raw material 999 - HN	73,600	74,150
AVPL/SJC Can Tho	74,980	76,980

2. PNJ - Updated: June 16, 2024 14:30 - Website supply time - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
HCMC - PNJ	73,400	75,100
HCMC - SJC	74,980	76,980
Hanoi - PNJ	73,400	75,100
Hanoi - SJC	74,980	76,980
Da Nang - PNJ	73,400	75,100
Da Nang - SJC	74,980	76,980
Western Region - PNJ	73,400	75,100
Western Region - SJC	74,980	76,980
Jewelry gold price - PNJ	73,400	75,100
Jewelry gold price - SJC	74,980	76,980
Jewelry gold price - Southeast	PNJ	73,400
Jewelry gold price - SJC	74,980	76,980
Jewelry gold price - Jewelry gold price	PNJ Ring (24K)	73,400
Jewelry Gold Price - 24K Jewelry	73,300	74,100
Jewelry Gold Price - 18K Jewelry	54,330	55,730
Jewelry Gold Price - 14K Jewelry	42,100	43,500
Jewelry Gold Price - 10K Jewelry	29,580	30,980

World gold price this afternoon June 16, 2024 and chart of world gold price fluctuations in the past 24 hours

According to Kitco, the world gold price recorded at 1:30 p.m. today, Vietnam time, was at 2,332.01 USD/ounce. Converted according to the current exchange rate at Vietcombank, the world gold price is about 70.578 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 4.402 million VND/tael higher than the international gold price.

Gold price fluctuation chart in the last 24 hours

Last week, the world gold price unexpectedly reversed and increased sharply, surpassing the threshold of 2,330 USD/ounce. At the end of the trading week, the gold price on Kitco was listed at 2,333.80 USD/ounce, up 28.9 USD/ounce, equivalent to 1.25% compared to the previous trading session.

During the week, the US Federal Open Market Committee (FOMC) of the US Federal Reserve (FED) decided to keep interest rates unchanged, as expected by the market. The US benchmark interest rate remained at a 23-year high of 5.25-5.5%/year.

The Fed's key message is that inflation remains high and that it needs to maintain a tight policy stance for a while longer. This means the dollar remains high, dampening the excitement in the gold market. Investors are pricing in a 64% chance that the Fed will cut interest rates in September, down from the 71% previously predicted.

“Gold is recovering from last week’s sell-off on more dovish U.S. economic news — weaker producer price inflation and higher jobless claims — both of which support rate cuts, and rising geopolitical tensions, including multiple attacks on Israel and Russian warships in the Caribbean,” said Adrian Day, president of Adrian Day Asset Management.

Gold Price Forecast

In its latest forecast, Commerzbank AG said that US interest rates are likely to remain high in the near future, putting pressure on gold prices. Gold prices are expected to reach $2,200 an ounce by the end of the year.

Previously, according to many forecasts, with the Fed's expected 2-3 interest rate cuts in 2024, the spot gold price will reach 2,400-2,500 USD/ounce, possibly even up to 3,000 USD/ounce.

Source: https://congthuong.vn/gia-vang-chieu-nay-1662024-gia-vang-trong-nuoc-tuan-qua-di-ngang-nguoi-mua-van-lo-2-trieu-dong-moi-luong-326443.html