Gold market remains cautious awaiting US economic data.

Global gold prices edged higher on June 25th as investors remained cautious ahead of the release of key US economic data. Meanwhile, the ceasefire agreement between Iran and Israel reduced the appeal of the precious metal as a safe-haven asset.

Gold bars in Incheon, South Korea. Photo: Yonhap/VNA

At approximately 0:58 AM on June 26th, Vietnam time, the spot gold price edged up 0.1% to $3,327.91 per ounce, after having hit its lowest level in over two weeks in the previous trading session. US gold futures closed down 0.3% at $3,343.1 per ounce.

Daniel Pavilonis, senior market strategist at RJO Futures, noted that while the market has many drivers and potential, the factors that usually support gold prices are unable to push the precious metal to new highs. He predicted that gold prices could retreat to $2,900 per ounce if tensions in the Middle East do not escalate.

In his second congressional hearing, Federal Reserve Chairman Jerome Powell reiterated that the Fed does not need to rush to cut interest rates, given the uncertainties surrounding the unresolved tariff negotiations. In May 2025, President Trump temporarily postponed the implementation of broad tariffs until July 9th, allowing the US time to negotiate and seek compromises with various countries.

However, Powell suggested that if inflationary pressures are contained, the Fed will move toward cutting interest rates sooner than expected. Currently, the market is pricing in a probability of the Fed cutting interest rates in September 2025 at over 85%.

Gold typically rises in price during periods of uncertainty and in low-interest-rate environments.

Investors are also awaiting US GDP and jobs data, scheduled for June 26, along with Personal Consumption Expenditure (PCE) data on June 27, for further clues about the Fed's upcoming monetary policy direction.

In other precious metals markets, spot silver prices rose 0.8% to $36.2 per ounce, platinum prices surged 2.8% to $1,352.96 per ounce, reaching their highest level since September 2014. Palladium prices, however, fell 0.5% to $1,061.01 per ounce.

In Vietnam, Saigon Jewelry Company (SJC) and DOJI Group listed the price of gold bars at 117.5 - 119.5 million VND/ounce (buying price - selling price).

According to VNA

Source: https://doanhnghiepvn.vn/kinh-te/thi-truong-vang-than-trong-cho-du-lieu-kinh-te-my/20250626081840440