This afternoon (June 27), domestic gold and gemstone trading establishments simultaneously slightly adjusted gold prices, pushing gold down to 67 million VND/tael.
Specifically, at 5:30 p.m., the price of SJC gold in Hanoi and Da Nang was adjusted down by VND50,000 in both directions compared to early this morning to VND66.35 million/tael for buying and VND66.97 million/tael for selling. In Ho Chi Minh City, SJC gold is still being bought at the same level as in Hanoi and Da Nang but sold at VND20,000 lower.
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Domestic gold prices slightly decreased. Photo: vietnamnet.vn |
DOJI brand gold price in Hanoi is traded at 66.35 million VND/tael for buying and 66.95 million VND/tael for selling, down 100,000 VND compared to the early morning of the same day. Meanwhile, in Ho Chi Minh City, the price of this brand gold has been adjusted down 100,000 VND for buying and 50,000 VND for selling, bringing the buying and selling prices equal to those in Hanoi.
PNJ gold is buying at 66.45 million VND/tael and selling at 66.95 million VND/tael, down 50,000 VND in both directions. Bao Tin Bao Tin Minh Chau gold price is also adjusted down 50,000 VND in both directions to 66.42 million VND/tael for buying and 66.93 million VND/tael for selling.
In the afternoon trading session on June 27 (Vietnam time), the world gold price was almost unchanged compared to the early morning of the same day. Specifically, the gold futures price listed at Kitco decreased by 0.3 USD to 1,932.3 USD/ounce. Spot gold traded at 1,923.2 USD/ounce, down 0.4 USD.
World gold prices in the first trading session of the week were torn by conflicting factors. While concerns about rising political instability boosted safe-haven demand for gold, the hawkish stance of central banks curbed the rise of this precious metal.
However, in the medium and long term, experts remain optimistic about the precious metal, believing that the continued interest rate “race” by major central banks around the world could push the economy into recession. In addition, new macroeconomic data, especially reports on labor and inflation, are not expected to strengthen the possibility that the US Federal Reserve (Fed) will raise interest rates two more times this year. Senior commodity strategist Daniel Ghali of TD Securities said that the May rate hike could be the last in the Fed’s tightening cycle. He predicted that if the “soft landing” scenario is not achieved, gold could surpass the $2,100/ounce mark early next year.
Experts also note that investors should focus on geopolitical tensions. Market analyst Rupert Rowling of Kinesis Money said that increased uncertainty will reduce overall risk appetite and trigger safe-haven trading in the gold market. This will benefit gold in the medium term.
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| World gold prices are stable. Photo: Kitco |
With the domestic gold price decreasing slightly and the world gold price listed at Kitco at 1,923.2 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.
Domestic gold price updated at 5:30 pm on June 27 as follows:
Yellow | Area | Early morning 27-6 | Afternoon of June 27 | Difference | ||||
Buy | Sell | Buy | Sell | Buy | Sell | |||
Unit of measure: Million VND/tael | Unit of measure: Thousand dong/tael | |||||||
DOJI | Hanoi | 66.45 | 67.05 | 66.35 | 66.95 | -100 | -100 | |
Ho Chi Minh City | 66.45 | 67 | 66.35 | 66.95 | -100 | -50 | ||
SJC | Ho Chi Minh City | 66.4 | 67 | 66.35 | 66.95 | -50 | -50 | |
Hanoi | 66.4 | 67.02 | 66.35 | 66.97 | -50 | -50 | ||
Danang | 66.4 | 67.02 | 66.35 | 66.97 | -50 | -50 | ||
PNJ | Ho Chi Minh City | 66.5 | 67 | 66.45 | 66.95 | -50 | -50 | |
Hanoi | 66.5 | 67 | 66.45 | 66.95 | -50 | -50 | ||
Bao Tin Minh Chau | Nationwide | 66.47 | 66.98 | 66.42 | 66.93 | -50 | -50 | |
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