The price of SJC gold bars on June 22.6 did not change much compared to the afternoon of June 21.6. Eximbank bought 66,5 million dong, sold 66,9 million dong; Saigon Jewelry Company - SJC bought 66,4 million dong, sold 67 million dong… Meanwhile, the price of gold ring 4 and 9 decreased by 50.000 dong/tael, down to 55,45 million dong in the buying and selling direction. The difference between the buying and selling price of gold bars is from 56,55 to 400.000 dong/tael, while the gold ring is 600.000 million dong/tael.
Gold prices in the country are less volatile compared to the world
The world gold price increased and decreased abnormally in the US session (night of June 21.6). The precious metal fell from $1.935 an ounce to $1.918 an ounce, but then quickly rallied back to $1.938 an ounce. The gold market eased some losses and held steady as Jerome Powell - Chairman of the US Federal Reserve (Fed) said that interest rates will no longer increase at a rapid rate. The decision to keep interest rates in June should not be called a pause and most Fed members believe that two more rate hikes will be made this year. Jerome Powell believes US inflation will return to 6%, but it will be “difficult to know” where interest rates will be when that happens.
The world's largest gold investment fund, SPDR, sold 1,73 tons of gold, reducing its holdings to 932,3 tons.
Central bank gold demand continues to dominate the market, with purchases by the National Bank of Poland hitting a record high in May of 5 tonnes. Previously, in April, this country's banks bought 19 tons. The country's gold reserves rose to 4 tons.