Gold price stable
At the end of the trading session on June 18, the price of SJC gold bars was listed by large enterprises at 117.6-119.6 million VND/tael (buy - sell), unchanged from the previous session. At the beginning of the week, there was a time when the selling price of gold bars reached 120.5 million VND/tael.
The price of plain gold rings is listed at 113.7-116.2 million VND/tael (buy - sell), also remaining the same.
In the international market, the world gold price is around 3,390 USD/ounce, up 3 USD compared to before. According to the exchange rate excluding tax and fees, the precious metal is equivalent to 107.2 million VND/tael.
The gold market continues to fluctuate below the threshold of 3,400 USD/ounce, in the context of tensions in the Middle East remaining under control within the region.
World and domestic gold prices are stable (Photo: Manh Quan).
Risk factors still cause some volatility in gold prices, but some portfolio managers say investors should focus on the global economic picture instead of getting caught up in short-term events.
According to experts, gold remains in a solid uptrend as it continues to serve as an important monetary asset and a hedge against the devaluation of fiat currencies globally.
Despite growing global economic risks, recent data shows that gold still accounts for only about 1% of total global investment assets. Experts say that proportion will soon increase as investors increasingly seek gold as a hedge against asset value.
Meanwhile, the latest annual survey by the World Gold Council (WGC) shows that not only do central banks expect to continue buying gold in the next 12 months, they are also showing the highest level of interest in the precious metal in a decade.
Accordingly, 95% of reserve managers participating in the survey believe that global gold reserves will increase in the next 12 months. 43% of foreign exchange reserve managers at central banks said they plan to increase their gold holdings this year. Reserve managers remain positive on gold in the context of gold reaching many record highs and central banks maintaining gold purchases for 15 consecutive years.
Gold continues to act as a safe haven asset that helps mitigate risks amid persistent economic and geopolitical uncertainty that puts pressure on reserve managers.
According to the WGC, the three main reasons why central banks and reserve managers are prioritizing holding gold as an asset at the moment include gold's long-term value preservation ability, its role as an effective portfolio diversifier, and its performance during times of crisis.
Central exchange rate approaches 25,000 VND/USD
The USD-Index - a measure of the greenback's performance against six major currencies - fell 0.2% from yesterday to 98.6 points.
In the foreign exchange market, the central exchange rate at the end of yesterday's session was listed by the State Bank at 24,994 VND/USD, down 4 VND. With a 5% margin compared to the central exchange rate, the ceiling rate applied is 26,243 VND/USD and the floor rate is 23,744 VND/USD.
The USD exchange rate listed by major banks is 25,850-26,243 VND (buying - selling), down 4 VND in both directions compared to the previous day. Meanwhile, at joint stock banks, the corresponding exchange rate for both buying and selling is 25,850-26,243 VND (buying - selling), down 4 VND in both buying and selling directions.
On the free market, the USD price was traded at 26,220-26,320 VND (buy - sell), unchanged from before.
Source: https://dantri.com.vn/kinh-doanh/vang-mieng-sjc-tien-sat-120-trieu-dongluong-20250619000329187.htm
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