Domestic gold price
At the end of the trading session on June 15, the price of 9999 gold bars at SJC Ho Chi Minh City was VND66.55 million/tael (buy) and VND67.15 million/tael (sell). SJC Hanoi listed at VND66.55 million/tael (buy) and VND67.17 million/tael (sell).
Doji Hanoi listed at 66.5 million VND/tael (buy) and 67.1 million VND/tael (sell). Doji Ho Chi Minh City bought SJC gold at 66.5 million VND/tael and sold at 67 million VND/tael.
International gold price
On the world market, the spot gold price on June 15 (Vietnam time) was trading at 1,955 USD/ounce.
According to data from the US Department of Commerce, retail sales in the country increased by 0.3% last month. The figure was higher than economists' forecast of a 0.1% decrease.
The US consumer price index (CPI) increased by 4% in May, the smallest annual increase in more than two years.
Meanwhile, the Federal Reserve (Fed) decided to keep interest rates unchanged in the range of 5%-5.25%, ending the 10th consecutive rate hike. Fed Chairman Jerome Powell said the central bank has not yet made a decision on its July meeting.
The Fed said that further rate hikes would be based on an assessment of the cumulative tightening of monetary policy, the lag in monetary policy affecting economic activity, inflation, and economic and financial developments.
Gold Price Forecast
Tim Waterer, market analyst at KCM Trade, said the movement of gold prices will depend on tough comments from the head of the Fed.
According to the CME Fedwatch tool, traders are forecasting a 72% chance that the Fed will raise interest rates in July.
The gold market is awaiting a slew of US economic data, including weekly jobless claims.
Source
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