Domestic gold price today

Domestic gold prices remained stable this morning and traded around 67 million VND/tael. Currently, the domestic precious metal prices are listed specifically as follows:

DOJI brand gold price in Hanoi is listed at 66.4 million VND/tael for buying and 67 million VND/tael for selling. In Ho Chi Minh City, this brand gold is being bought at the same price but sold at 50,000 VND lower than in Hanoi.

Domestic gold prices are stable this morning. Photo: thanhnien.vn

SJC gold price in Hanoi and Da Nang is currently being bought at 66.5 million VND/tael and sold at 67.12 million VND/tael. In Ho Chi Minh City, SJC gold is still being bought at the same price as in Hanoi and Da Nang but sold at 20,000 VND lower.

PNJ Gold is buying at 66.45 million VND/tael and selling at 66.95 million VND/tael. Bao Tin Gold Bao Tin Minh Chau is listing at 66.47 million VND/tael for buying and 66.98 million VND/tael for selling.

Domestic gold price updated at 5:30 am on June 26 as follows:

Yellow

Area

Early morning 25-6

Early morning 26-6

Difference

Buy

Sell

Buy

Sell

Buy

Sell

Unit of measure:

Million VND/tael

Unit of measure:

Thousand dong/tael

DOJI

Hanoi

66.4

67

66.4

67

-

-

Ho Chi Minh City

66.4

66.95

66.4

66.95

-

-

SJC

Ho Chi Minh City

66.5

67.1

66.5

67.1

-

--

Hanoi

66.5

67.12

66.5

67.12

-

-

Danang

66.5

67.12

66.55

67.12

-

-

PNJ

Ho Chi Minh City

66.45

66.95

66.45

66.95

-

-

Hanoi

66.45

66.95

66.45

66.95

-

-

Bao Tin Minh Chau

Nationwide

66.47

66.98

66.47

66.98

-

-










World gold price today

World gold prices this morning tended to increase with spot gold increasing by 2.2 USD compared to the closing price of last week's trading session to 1,922.4 USD/ounce.

The gold market is approaching the final days of June. However, this precious metal is witnessing a series of declines and there is no clear momentum to recover. Specifically, last week, the spot price of gold fell by $38, and August gold futures fell by $41.6 compared to the closing price of the previous trading session, marking the worst week since February.

This week’s Kitco Gold Survey shows that Wall Street analysts and retail investors are less bullish, which could make the precious metal struggle this week. Some analysts have said that with the market’s downward momentum, it’s only a matter of time before gold tests support around $1,900 an ounce.

However, some analysts note that for tactical investors, now is the time to buy, to build a hedge against a potential downturn in the stock market and the growing threat of a recession.

Phillip Streible, chief market strategist at Blue Line Futures, said he was disappointed with gold’s performance last week. However, he added that selling was understandable after central banks around the world raised interest rates. He also said that now is still the best time to buy gold.

James Stanley, senior market strategist at Forex.com, said he was also disappointed with the price action in gold, which he had expected to return to $2,000 an ounce. Stanley added that persistent underlying inflation will force the Federal Reserve to maintain its hawkish tone, creating a challenging environment for gold.

Kitco’s weekly gold survey found that 50% of analysts expect gold prices to fall in the coming weeks, while 41% expect prices to rise this week. Meanwhile, 42% of retail investors expect prices to fall, while 41% expect prices to rise. Retail investor pessimism is at its highest level since mid-February.

Experts say this is the right time to own gold. Photo: Kitco

Despite the bearish market sentiment, some analysts remain bullish on gold in the near term. Alex Kuptsikevich, senior market analyst at FxPro, said that while rising interest rates make bonds more attractive than gold, hawkish sentiment continues to pose risks to global financial markets. He said that the banking crisis is at risk of resurgence as central banks maintain their aggressive monetary policies.

Kuptsikevich is watching to see if gold can hold short-term support at $1,910 an ounce. He said gold could hit $1,940 an ounce and even reclaim $2,000 an ounce by the end of July if the precious metal trades above $1,910 an ounce.

With the domestic gold price stable and the world gold price listed at Kitco at 1,922.4 USD/ounce (equivalent to nearly 54.8 million VND/tael if converted at Vietcombank exchange rate, excluding taxes and fees), the difference between the domestic and world gold prices is currently over 12 million VND/tael.

TRAN HOAI