Domestic gold price today
Early morning on June 29, the price of 9999 gold of SJC today increased by 50 thousand dong/tael in the buying afternoon but decreased by 50 thousand dong/tael in the selling side compared to the end of last week's trading session.
Gold price 9999 is updated by Saigon Jewelry Company Limited (SJC) at 8:22 and gold price 9999 is listed by Doji Jewelry Group at 8:32 as follows:
| Buy into | Sold out | |
| SJC Hanoi | 66.400.000 VND/tael | 67.020.000 VND/tael |
| SJC HCMC | 66.400.000 VND/tael | 67.000.000 VND/tael |
| SJC Da Nang | 66.400.000 VND/tael | 67.020.000 VND/tael |
| Doji Hanoi | 66.350.000 VND/tael | 66.950.000 VND/tael |
| Doji Ho Chi Minh City | 66.450.000 VND/tael | 66.950.000 VND/tael |
SJC and DOJI gold price list updated early in the morning of June 29
Closing the session on April 27, the price of 5 gold bars at SJC Ho Chi Minh City was 9999 million dong/tael (buying in) and 66,35 million dong/tael (sold out). SJC Hanoi listed at 67,05 million dong/tael (buying in) and 66,35 million dong/tael (sold out).
Doji Hanoi listed at 66,35 million dong/tael (buy in) and 66,95 million dong/tael (sold out). Doji Ho Chi Minh City bought SJC gold at 66,4 million dong/tael, sold at 67 million dong/tael.
Central exchange rate on 29/5 announced by the State Bank is 23.712 VND/USD, up 1 VND compared to last week. USD price at commercial banks this morning (May 29) was trading around 5 VND/USD (buying) and 23.280 VND/USD (selling).
International gold price today
At 9:33 am today (May 29, Vietnam time), the world spot gold price stood around the threshold of 1.945,5 USD/ounce, down 0,5 USD/ounce compared to last night. Gold futures for August delivery on Comex New York were at $8 per ounce.
Morning 29/5, world gold converted at the bank's USD price is nearly 55,5 million dong/tael (excluding taxes and fees), about 11,52 million dong/tael lower than the domestic gold price.
On the world market, the spot gold price on May 28 (Vietnam time) traded at $5 per ounce. Gold futures price traded at $1.946 per ounce.
The world gold price is dependent on any interest rate adjustment moves of the US Federal Reserve (Fed). US macroeconomic data showed that inflation increased more than expected, causing the market to shape whether the Fed will continue to be tougher in adjusting interest rates.
Thus, the USD will increase stronger after the Fed raises interest rates, which means that the gold price will become weak.
On the world market, the DXY index, which measures the strength of the USD, with 6 major currencies increased by 0,69% compared to a week ago, to 1 points.
According to the prediction of the FedWatch CME tool, there is a 64% chance that the Fed will raise interest rates by 25 percentage points at its June 13-14 meeting.
In addition, according to analysis by James Knightley, chief economist at ING, if the debt ceiling scenario is resolved smoothly and the number of jobs announced next Friday increases, the market accepts the possibility that the Fed will raise interest rates in June.
Gold price forecast
Currently, experts on Wall Street are divided on whether gold will continue to fall or move higher. Accordingly, 43% believe that the price of gold will increase in the next time. Also 43% think that the price of gold will fall and only 14% think that the price of gold will go sideways.
Meanwhile, 762 retail investors surveyed by Kitco News, 49% expect gold prices to be higher, 36% expect prices to fall and 15% expect prices to move sideways.
Based on previous surveys, the odds of investors predicting a drop in gold prices this time have increased.
