At 9:15 AM on June 24th, Vietnam time, the price of gold on the world market continued to fall after US President Donald Trump announced on June 23rd on the social media platform Truth Social that Israel and Iran had agreed to a comprehensive ceasefire.
Donald Trump's announcement came about five hours after Iran attacked a US military base in Qatar in retaliation for Washington's bombing of Tehran's nuclear facilities last weekend.
This news triggered a sharp sell-off in gold, causing it to continue its rapid decline to $3,347 per ounce, down about $20 per ounce from the previous session.
Gold prices also retreated significantly from the $3,400/ounce mark in the early days of the week.
Previously, the gold market also experienced unexpected developments when gold prices cooled down, instead of being a safe haven for investors, as regional tensions between Israel and Iran escalated.
Some analysts suggest the market has been "surprisingly calm" following the US attacks on Iran; there have been no signs of a flight from risky assets in the past few trading sessions on international markets.
The price of SJC gold bars has remained unchanged for the past 3 days.
The domestic gold market also remained stable, with SJC gold bar prices maintained at 117.7 million VND per ounce for buying and 119.7 million VND per ounce for selling by companies such as SJC, PNJ, DOJI , and Bao Tin Minh Chau.
Similarly, the price of 99.99% pure gold rings and jewelry remained stable at 113.7 million VND/ounce for buying and 116.2 million VND/ounce for selling.
Domestic gold prices have remained unchanged for the past three days, despite the continuous decline in global gold prices.
This development has widened the price gap between domestic and international gold. Currently, the world gold price, converted at the listed exchange rate, is approximately 106.2 million VND/ounce, which is about 13.5 million VND/ounce lower than SJC gold bars.
Source: https://nld.com.vn/thong-tin-nay-khien-gia-vang-giam-manh-196250624094303285.htm
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