LIVE UPDATE TABLE OF GOLD PRICE TODAY 6/20 AND EXCHANGE RATE TODAY 6/20
| 1. SJC - Updated: June 19, 2023 09:25 - Website time of supply source - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| SJC 1L, 10L | 66,450 | 67,050 |
| SJC 5c | 66,450 | 67,070 |
| SJC 2c, 1c, 5 phan | 66,450 | 67,080 |
| SJC 99.99 gold ring 1 chi, 2 chi, 5 chi | 55,650 | 56,600 |
| SJC 99.99 gold ring 0.5 chi | 55,650 | 56,700 |
| Jewelry 99.99% | 55,500 | 56,200 |
| Jewelry 99% | 54,444 | 55,644 |
| Jewelry 68% | 36,370 | 38,370 |
| Jewelry 41.7% | 21,588 | 23,588 |
World gold prices and domestic gold prices both decreased.
Opening the trading session on June 19, the price of SJC gold in the Hanoi market was listed by Saigon Jewelry Company at 66.5 - 67.1 million VND/tael (buy - sell), down 100,000 VND/tael for buying and down 120,000 VND/tael for selling compared to the trading session at the end of last week.
DOJI Gold and Gemstone Group listed the price of SJC gold in Hanoi market at 66.5 - 67.1 million VND/tael (buy - sell), down 50 thousand VND/tael in both buying and selling compared to the closing price of the last trading session of the week.
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| Gold price today June 20, 2023: Gold price plummeted, weak trading, sensitive to the Fed's 'hawkish' statement, SJC gold lost a little value. (Source: Kitco) |
Meanwhile, in the Asian market, Asian gold prices fell in the afternoon trading session on June 19 under pressure from the strong USD, following "hawkish" comments from policymakers of the US Federal Reserve (Fed).
Spot gold fell 0.2% to $1,953.69 an ounce at 2:15 p.m. (Vietnam time). US gold futures also fell 0.2% to $1,966.30 an ounce.
According to The Gioi & Viet Nam Newspaper , at 7:50 p.m. on June 19 (Vietnam time), the world gold price on Kitco was at 1,950.3 - 1,951.3 USD/ounce, down 7.9 USD/ounce compared to the previous trading session.
Summary of SJC gold prices at major domestic trading brands at the closing time of June 19:
Saigon Jewelry Company listed the price of SJC gold at 66.45 - 67.05 million VND/tael.
Doji Group currently lists the price of SJC gold at: 66.45 - 67.05 million VND/tael.
Phu Quy Group listed at: 66.5 - 67.1 million VND/tael.
PNJ system listed at: 66.5 - 67.1 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at: 66.46 - 67.03 million VND/tael; Rong Thang Long gold brand is traded at 55.98 - 56.83 million VND/tael; jewelry gold price is traded at 55.65 - 56.65 million VND/tael.
Thus, compared to the early morning of June 19, the price of SJC gold in the Hanoi market listed by Saigon Jewelry Company decreased by 50 thousand VND/tael in both buying and selling directions.
Converted according to the USD price at Vietcombank on June 19, 1 USD = 23,690 VND, the world gold price is equivalent to 55.69 million VND/tael, 11.36 million VND/tael lower than the selling price of SJC gold.
Gold prices fell sharply
Gold prices fell in a weak session on Monday as the US dollar rebounded from the previous session's low, with markets awaiting US Federal Reserve Chairman Jerome Powell's congressional testimony later this week.
Spot gold fell 0.4% to $1,948.89 an ounce at 8:11 a.m. EDT (1211 GMT). U.S. gold futures fell 0.5% to $1,960.90. Trading was expected to be slow as U.S. markets were closed for the Juneteenth holiday.
The dollar index edged up from a one-month low hit last Friday. A stronger greenback makes bullion less attractive to buyers holding other currencies.
The question is what will cause gold to break out of its range-bound trading between $1,940 and $1,980 an ounce as last week's economic events ultimately failed to deliver on that expectation, said Craig Erlam, senior market analyst at OANDA.
Bullion prices fell 0.2% on a weekly basis last week as traders stepped up bets on the possibility of another rate hike in July, amid hawkish comments from Fed officials in their first comments since the central bank held rates steady in June after 10 straight hikes.
Markets are now waiting for Mr. Powell's testimony before the US Congress on June 22-23 for signals on future interest rates.
In addition, the European Union (EU) is awaiting its inflation report on June 22, with markets having largely priced in a July rate hike, while the Bank of England is expected to raise rates by another 25 basis points on June 23.
Eurozone inflation risks exceeding recent forecasts, European Central Bank (ECB) Governing Council member Isabel Schnabel said, according to Kitco News .
The moves by central banks in the coming months in the fight against high inflation will make currency prices volatile, which will “make bond prices very volatile and long-term, which will have a big impact on gold prices,” Mr. Erlam said.
Rising interest rates increase the opportunity cost of holding non-yielding bullion.
Previously, also according to Reuters , Mr. Tim Waterer , leading market analyst at KCM Trade, said that the USD lost value last week and this opened up opportunities for gold prices to recover.
In addition to waiting for Fed Chairman Jerome Powell's congressional testimony, traders also expect about a 72% chance that the Fed will raise interest rates by July 2023, according to CME Fedwatch.
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