World gold price still increases, gold rings increase beyond 75 million VND/tael

Domestic gold price this afternoon June 20, 2024

At the time of survey at 6:00 p.m. on June 20, 2024, the gold price today, June 20, on the trading floors of some companies is as follows:

The price of SJC gold listed by the gold house is 74.98 million VND/tael for buying and 76.98 million VND/tael for selling.

This afternoon, DOJI listed the price of 9999 gold at 74.98 million VND/tael for buying and 76.98 million VND/tael for selling.

At Mi Hong Gold and Gemstone Company, the price of Mi Hong gold at the time of survey listed the price of SJC gold at 76.00 - 76.98 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 75.50 - 76.98 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 76,000 - 76.98 million VND/tael (buy - sell).

The price of SJC gold bars has not changed, while today's gold rings continue to increase accordingly, the price of 9999 round gold rings at DOJI is listed at 74.40-75.65 million VND/tael (buy in - sell out). Compared to yesterday's trading session, the price of 9999 gold rings at DOJI increased by 100,000 VND/tael for both buying and selling.

Saigon Jewelry Company listed the price of gold rings at 73.55-75.15 million VND/tael (buy - sell). Compared to yesterday's trading session, the price of 9999 gold rings at Saigon Jewelry Company increased by 150,000 VND/tael for both buying and selling.

Bao Tin Minh Chau listed the price of gold rings at 74.38-75.68 million VND/tael (buy - sell). Compared to yesterday's trading session, the price of 9999 gold rings at Bao Tin Minh Chau increased by 50,000 VND/tael for both buying and selling.

The central exchange rate listed by the State Bank is 24,255 VND/USD, down 2 VND/USD. The USD price at commercial banks is traded around 25,217 VND/USD for buying and 25,467 VND/USD for selling.

Gold price today June 20, 2024, SJC gold price, 9999 gold price, 24k gold price, 18k gold price June 20, 2024. Photo: Tra My

1. DOJI - Updated: June 20, 2024 1:24 PM - Source website time - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
AVPL/SJC HN	74,980	76,980
AVPL/SJC HCM	74,980	76,980
AVPL/SJC DN	74,980	76,980
Raw material 9999 - HN	74,000 ▲200K	74,550 ▲200K
Raw material 999 - HN	73,900 ▲200K	74,450 ▲200K
AVPL/SJC Can Tho	74,980	76,980

2. PNJ - Updated: June 20, 2024 11:32 PM - Website supply time - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
HCMC - PNJ	73,600 ▲150K	75,250 ▲100K
HCMC - SJC	74,980	76,980
Hanoi - PNJ	73,600 ▲150K	75,250 ▲100K
Hanoi - SJC	74,980	76,980
Da Nang - PNJ	73,600 ▲150K	75,250 ▲100K
Da Nang - SJC	74,980	76,980
Western Region - PNJ	73,600 ▲150K	75,250 ▲100K
Western Region - SJC	74,980	76,980
Jewelry gold price - PNJ	73,600 ▲150K	75,250 ▲100K
Jewelry gold price - SJC	74,980	76,980
Jewelry gold price - Southeast	PNJ	73,600 ▲150K
Jewelry gold price - SJC	74,980	76,980
Jewelry gold price - Jewelry gold price	PNJ Ring (24K)	73,600 ▲150K
Jewelry Gold Price - 24K Jewelry	73,500 ▲150K	74,300 ▲150K
Jewelry Gold Price - 18K Jewelry	54,480 ▲120K	55,880 ▲120K
Jewelry Gold Price - 14K Jewelry	42,220 ▲90K	43,620 ▲90K
Jewelry Gold Price - 10K Jewelry	29,660 ▲60K	31,060 ▲60K

World gold price this afternoon June 20, 2024 and chart of world gold price fluctuations in the past 24 hours

According to Kitco, the world gold price recorded at 6:00 p.m. today, Vietnam time, was at 2,339.45 USD/ounce. Converted according to the current exchange rate at Vietcombank, the world gold price is about 70.876 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 4.104 million VND/tael higher than the international gold price.

Gold price fluctuation chart in the last 24 hours

Gold edged higher, boosted by weaker U.S. economic data released earlier this morning. Crude oil’s rally to a six-week high today was also a bullish factor for the metals market.

Specifically, the U.S. retail sales report for May showed a 0.1% increase from the previous month, compared with expectations for a 0.2% increase. April sales were revised down from unchanged to 0.2% from the previous month. The weaker sales data fell on the heels of U.S. monetary policy hawks who want to see the Federal Reserve cut interest rates sooner rather than later.

According to the signal from the FedWatch Tool of the CME exchange, as of 9:00 p.m. on June 19 (Vietnam time), 67% believe that the FED will cut interest rates at the meeting in September. Previously, this rate was only 61%.

The number of people who believe the Fed will soon lower interest rates increased after the US announced that total retail sales in the US increased at a very modest level in May. This signal shows that the US economy is slowing down, without reasonable policies, the world's number 1 economy may fall into difficulties.

Gold Price Forecast

In a report recently released by the World Gold Council (WGC), many central banks are planning to add gold to their foreign exchange reserves within the next 12 months due to ongoing political and macroeconomic instability.

According to a WGC survey, 29% of 70 central banks said they expect to increase their gold reserves in the next 12 months, up from 24% in 2023. According to the WGC, countries are increasing their gold purchases due to concerns about the risk of crisis and rising inflation.

Source: https://congthuong.vn/gia-vang-chieu-nay-2062024-vang-the-gioi-van-tang-cao-vang-nhan-tang-vuot-moc-75-trieu-dongluong-327286.html