Gold price today (June 27): World gold prices increased slightly thanks to the demand for safe havens. Domestically, the price of this precious metal fluctuated in different directions.
Domestic gold price today
Domestic gold prices were mixed 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 66.45 million VND/tael for buying and 67.05 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 mixed this morning. Photo: thanhnien.vn |
SJC gold price in Hanoi and Da Nang is currently being bought at 66.4 million VND/tael and sold at 67.02 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 66.5 million VND/tael and selling at 67 million VND/tael. Bao Tin Bao Tin Minh Chau gold is listed 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 27 as follows:
Yellow | Area | Early morning 26-6 | Early morning 27-6 | Difference | ||||
Buy | Sell | Buy | Sell | Buy | Sell | |||
Unit of measure: Million VND/tael | Unit of measure: Thousand dong/tael | |||||||
DOJI | Hanoi | 66.4 | 67 | 66.45 | 67.05 | +50 | +50 | |
Ho Chi Minh City | 66.4 | 66.95 | 66.45 | 67 | +50 | +50 | ||
SJC | Ho Chi Minh City | 66.5 | 67.1 | 66.4 | 67 | -100 | -100 | |
Hanoi | 66.5 | 67.12 | 66.4 | 67.02 | -100 | -100 | ||
Danang | 66.5 | 67.12 | 66.4 | 67.02 | -100 | -100 | ||
PNJ | Ho Chi Minh City | 66.45 | 66.95 | 66.5 | 67 | +50 | +50 | |
Hanoi | 66.45 | 66.95 | 66.5 | 67 | +50 | +50 | ||
Bao Tin Minh Chau | Nationwide | 66.47 | 66.98 | 66.47 | 66.98 | - | - | |
World gold price today
World gold prices increased slightly early this morning with spot gold rising $1.2 to $1,923.6 an ounce. August gold futures last traded at $1,933 an ounce, up $3.3 from early the previous day.
The precious metals market opened the week on a positive note, buoyed by safe-haven demand amid concerns over rising geopolitical tensions. Analysts say gold remains an important portfolio diversifier in times of heightened uncertainty, but gains in the precious metal have been severely limited by recent central banks’ aggressive monetary policies.
Gold is expected to end June down about $47, marking its worst month since February. The precious metal is reacting to continued hawkish rhetoric from central banks. Looking longer term, experts at State Street Global Advisors say the risk of a global recession as central banks around the world continue to aggressively raise interest rates will provide long-term support for the gold market.
State Street Global Advisors’ latest gold investment research released Monday shows that investors have become much more sophisticated in their investment strategies. Although gold has struggled to find solid upside momentum as prices have fallen below $1,950 an ounce, the firm’s research, which included a survey of investors, shows that investor demand for the precious metal remains healthy.
According to the survey, 20% of US investors now own gold in their portfolios, and a new trend is emerging: gold investors are getting younger. The report said that on average, Millennials (those born between 1981 and 1996) have a higher proportion of gold in their portfolios (around 17%). Both Gen X (those born between 1965 and 1980) and Boomers (those born between 1946 and 1964) hold around 10% of their portfolios in gold.
World gold reversed and increased slightly. Photo: Kitco |
In a recent interview with Kitco News, State Street Global Advisors Chief Strategist George Milling-Stanle said he is less concerned about the Federal Reserve maintaining its dovish stance with the possibility of two more rate hikes this year. He explained that while rising rates increase the opportunity cost of holding gold and support the dollar, the Fed’s dovish stance could also push the world closer to a recession.
With domestic gold prices fluctuating in opposite directions and world gold prices listed at Kitco at 1,923.6 USD/ounce (equivalent to nearly 54.8 million VND/tael if converted at Vietcombank exchange rate, excluding taxes and fees), the difference between domestic and world gold prices is currently over 12 million VND/tael.
TRAN HOAISource
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