Sharp decline, under pressure from USD

Update SJC gold price

Domestic SJC gold price closed on June 18, 2024.

SJC gold bar price recorded at DOJI Group. Unit: Million VND/tael. Chart: Khuong Duy

Price of round gold ring 9999

As of 5:00 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI Gold and Gemstone Group is listed at 74.3-75.55 million VND/tael (buy - sell).

Compared to the closing price of last week's trading session, the price of gold rings by this unit increased by 50,000 VND/tael for both buying and selling.

Saigon Jewelry Company SJC listed the price of 9999 plain round rings at 73.3-74.9 million VND/tael (buy - sell).

Compared to the closing price of last week's trading session, this unit's gold ring price decreased by 50,000 VND/tael for both buying and selling.

The price of 9999 gold rings at Bao Tin Minh Chau is listed at 74.28-75.58 million VND/tael (buy - sell); unchanged from the closing price of yesterday's trading session.

World gold price

As of 5:00 p.m. today, the world gold price listed on Kitco was at 2,311.5 USD/ounce.

Gold Price Forecast

World gold prices fell amid a high USD index. Recorded at 5 p.m. on June 18, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, stood at 105.115 points (up 0.15%).

According to analyst Jim Wyckoff, at gold market specialist Kitco Metals, the precious metal market is looking for direction due to lack of new fundamental information.

The analyst believes that gold prices could fluctuate between $2,300-2,400/ounce until the market receives an important catalyst, which may have to wait until July.

Meanwhile, Saxo Bank commodity strategist Ole Hansen said that demand for precious metals is currently strong enough to keep prices from falling, and even increase.

The yield on the 10-year US Treasury note has now risen after falling last week, making gold less attractive to investors.

Traders are closely watching upcoming comments from New York Fed President John Williams, Philadelphia Fed President Patrick Harker and Fed Governor Lisa Cook.

Traders are pricing in a 67% chance of a rate cut in September, according to the CME FedWatch Tool, as the latest report showed consumer prices in May were unchanged for the first time in nearly two years.

Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-chot-phien-186-giam-manh-chiu-ap-luc-tu-dong-usd-1354610.ldo