Gold price today listed on Kitco is at 1,951 USD/ounce, down 6 USD/ounce compared to early this morning.
World gold prices fell this morning as the USD rebounded from the low of the previous session.
Bullion prices fell 0.2% on a weekly basis last week as traders stepped up bets on the possibility of another rate hike in July, amid hawkish comments from Fed officials in their first comments since the central bank held rates steady in June after 10 straight hikes.
Markets are now waiting for Mr. Powell's testimony before the US Congress on June 22-23 for signals on future interest rates.
Gold prices are down today.
In addition, the European Union (EU) is awaiting its inflation report on June 22, with markets having largely priced in a July rate hike, while the Bank of England is expected to raise rates by another 25 basis points on June 23.
Gold price movements today
+ Domestic gold price
At 6:30 a.m. on June 20, the gold price at Doji was listed at 66.45 - 67.05 million VND/tael (buy - sell), an increase of 50,000 VND/tael compared to the same time yesterday.
Meanwhile, the gold price at SJC was listed at 66.5 - 67.1 million VND/tael (buy - sell), unchanged from yesterday afternoon.
The price of gold rings and jewelry of all kinds is traded around 53.65 - 55.9 million VND/tael.
+ International gold price
The world gold price listed on Kitco is at 1,951 USD/ounce, down 6 USD/ounce compared to early this morning. Gold futures last traded at 1,955 USD/ounce.
Gold Price Forecast
Eurozone inflation risks exceeding recent forecasts, says ECB Governing Council member Isabel Schnabel, who said the moves by central banks in the coming months to combat high inflation will cause currency volatility, which will make bond prices very volatile and prolonged, with a major impact on gold prices.
Rising interest rates increase the opportunity cost of holding non-yielding bullion.
Previously, experts said that the USD lost value last week and this opened up opportunities for gold prices to recover.
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