Gold prices fluctuated today in the context of the US announcing that the consumer price index (CPI) in May 2024 increased by 3.3%, unchanged from the previous month. This shows that inflation in the US is showing signs of slowing down, creating conditions for the Federal Reserve (FED) to soon lower interest rates.
Last night, June 12, after concluding a two-day monetary policy meeting, the FED announced that it would keep interest rates at 5.25-5.5% and expected to cut interest rates once by the end of 2024.
In response to the above information, the USD has depreciated, bond interest rates have fallen to 4.2%, meaning bond values have increased. This factor has stimulated investors to sell bonds, shifting capital to precious metals. Gold prices today have the momentum to go up.
The developments in the trading session last night showed that the world gold price reached 2,340 USD/ounce. However, at this price, some investors sold to earn profits.
Gold price today (June 13), at 6 o'clock, dropped to 2,322 USD/ounce but still increased 7 USD compared to the same time yesterday at 2,315 USD/ounce.
Previously, in Vietnam, the price of SJC gold bars on June 12 was kept unchanged at VND76.98 million/tael by four commercial banks (Vietcombank, Agribank, BIDV, VietinBank) and SJC Company. People continued to line up to trade gold bars, but purchasing power decreased somewhat compared to many previous days.
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