LIVE UPDATE TABLE OF GOLD PRICE TODAY 6/15 AND EXCHANGE RATE TODAY 6/15
1. SJC - Updated: 06/14/2024 08:32 - Website time of supply - ▼ / ▲ Compared to yesterday. | ||
Type | Buy | Sell |
SJC 1L, 10L, 1KG | 74,980 | 76,980 |
SJC 5c | 74,980 | 77,000 |
SJC 2c, 1c, 5c | 74,980 | 77,010 |
SJC 99.99 gold ring 1 chi, 2 chi, 5 chi | 72,900 | 74,500 |
SJC 99.99 gold ring 0.3 chi, 0.5 chi | 72,900 | 74,600 |
Jewelry 99.99% | 72,800 | 73,700 |
Jewelry 99% | 70,970 | 72,970 |
Jewelry 68% | 47,771 | 50,271 |
Jewelry 41.7% | 28,386 | 30,886 |
Update gold price today June 15, 2024
Domestic gold prices remained around 74.98 - 76.98 million VND/tael (buy - sell). The difference between buying and selling prices was 2 million VND/tael.
The State Bank has implemented many best solutions to ensure narrowing the gap between SJC gold price and world gold price.
Currently, the price of SJC gold is only around 5 million VND/tael higher than the world gold price, an unprecedented low difference.
This is thanks to the strategy of selling gold directly to people, without going through intermediaries, to immediately reduce the domestic gold price. Next, the authorities simultaneously implemented administrative solutions including inspection, gold identification, anti-speculation...
These two solutions have stabilized the gold market for over two weeks and ended the phenomenon of SJC gold prices pushing up abnormally high.
World gold prices increased sharply after US economic data showed that price pressure had weakened, raising hopes of an interest rate cut from the US Federal Reserve (Fed).
Data on June 13 showed U.S. producer prices unexpectedly fell in May, another sign that inflation is cooling after a sharp rise in the first quarter.
The lower-than-expected CPI report came just ahead of the Fed's June 12 meeting, with the central bank holding interest rates steady and pushing back the start of rate easing to perhaps late December.
This week's inflation data, along with data on US jobless claims, showed that price pressures have weakened and the labor market is losing momentum, keeping markets hopeful of a September Fed rate cut.
According to TG&VN at 7:00 p.m. on June 14, the world gold price on the Kitco exchange was at 2,331.4 - 2,332.4 USD/ounce, up 27.5 USD compared to the previous trading session.
Gold price today June 15, 2024: The world price is skyrocketing, the domestic price is unchanged, the price drop is a good opportunity to buy goods. (Source: CNBC) |
Summary of SJC gold prices at major domestic trading brands at the closing time of June 14:
Saigon Jewelry Company listed at 74.98 - 76.98 million VND/tael.
Doji Group is currently listed at: 74.98 - 76.98 million VND/tael.
PNJ system listed at: 74.98 - 76.98 million VND/tael.
Phu Quy Gold and Silver Group listed at 75.50 - 76.98 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at: 75.50 - 76.98 million VND/tael.
Buyers are still actively collecting gold
Any decision on monetary policy by the Fed will depend on the health of the economy, according to Ashworth, North America economist at Capital Economics.
According to him, the possibility of cutting interest rates as early as September could happen if upcoming US economic reports show a weakening labor market and a sharp decline in inflation.
Investors are pricing in a 64% chance the Fed will cut interest rates in September, down from a previous forecast of 71%.
Market analyst Carlo Alberto De Casa of Kinesis Money said that despite the pressure, the fact that gold is still above $2,300/ounce shows that buyers are still actively considering the correction and price decrease as a good opportunity to increase their gold holdings.
In the long term, Ruth Crowell, CEO of the London Bullion Association, said that there are currently too many factors affecting the world gold price. However, the most important factor is China, because they often consider gold a safe choice when considering the state of the economy, challenges in the real estate sector as well as the stock market.
Central banks around the world, especially China, have been buying gold to add to their reserves amid devaluation of their currencies, rising geopolitical risks and economic uncertainty.
But the biggest player, China, cut back, then stopped buying.
Another factor that does not support the expectation of rising gold prices is the Fed's monetary policy. Contrary to investors' expectations not long ago that there would be at least two cuts to the USD's basic interest rate this year, according to the minutes of the latest Fed meeting, there is now a high probability that there will be only one cut.
With the latest developments mentioned above, Nikos Kavalis, CEO of Metal Focus fund, commented that the extreme scenario of gold price touching or even exceeding 3,000 USD/ounce this year will not happen.
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