Recovering after weeks of decline

Update SJC gold price

Domestic SJC gold price closed on June 15, 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 74.25-75.50 million VND/tael (buy - sell).

Saigon Jewelry Company SJC listed the price of 9999 plain round rings at 73.35-74.95 million VND/tael (buy - sell).

The price of 9999 gold rings at Bao Tin Minh Chau is listed at 74.18-75.48 million VND/tael (buy - sell).

World gold price

As of 5:00 p.m. today, the world gold price listed on Kitco was at 2,332.8 USD/ounce.

Gold Price Forecast

World gold prices increased in the context of the USD index decreasing. Recorded at 5:00 p.m. on June 15, the US Dollar Index, which measures the fluctuations of the greenback against 6 major currencies, was at 105.140 points (down 0.04%).

Gold prices just closed out their first weekly gain in four weeks. Geopolitical uncertainty and rising debt levels remain supportive of gold, said James Stanley, senior market strategist at Forex.com, on Kitco. However, he added that the near-term technical outlook is a little more uncertain. “As long as the $2,300 resistance level is held, I remain bullish,” said James Stanley, senior market strategist at Kitco.

Darin Newsom, senior market analyst at Barchart.com, expects gold to rally on this week's recovery and make further gains:

“While the mid-term trend for gold in August remains bearish, its short-term trend has turned bullish. This means that gold prices are likely to surpass the previous high of $2,358.80 an ounce with the next upside target being near $2,370 an ounce, followed by $2,391 an ounce,” the expert said.

The latest Kitco News weekly gold survey shows that a majority of experts and traders expect gold prices to rise next week, with many saying the precious metal is coming out of its “hibernation” state and returning to an upward trend.

Thirteen Wall Street analysts participated in the Kitco News Gold Survey this week, and experts are significantly more bullish on the precious metal’s near-term outlook.

Eight experts, or 62 percent, expect gold prices to rise next week. Only two analysts, or 15 percent, predict a fall. The remaining three, or 23 percent, expect gold to trade sideways next week.

Meanwhile, 216 votes were cast in Kitco’s online poll, with 117 traders, or 54%, predicting gold prices will rise next week. Another 49, or 23%, predict the precious metal will fall, while 50, or the remaining 23%, predict gold prices will be flat next week.

Following the Fed's monetary policy decision, market focus will shift to Europe next week as the Swiss National Bank and the Bank of England will both announce their monetary policy decisions on Thursday morning.

There is a lot of economic data coming out next week that could influence gold prices. The market will also get the Empire State manufacturing index on Monday and US retail sales for May on Tuesday.

Then on Thursday, housing starts and building permits for May, weekly jobless claims and the Philly Fed manufacturing index are released. The data week concludes with existing home sales on Friday morning.

Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-chot-phien-156-hoi-phuc-sau-nhieu-tuan-sut-giam-1353408.ldo