Domestic gold prices this morning (June 18) fluctuated with a slight increase compared to the beginning of the week from 30,000-50,000 VND/tael and were the same as yesterday's trading session, maintaining a trading level of around 67 million VND/tael.
How is the domestic gold price?
According to a survey by VTC News at 7:00 a.m. on June 18, domestic gold prices were listed as follows:
SJC gold in Hanoi and Da Nang is 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 a price 20,000 VND lower.
DOJI Gold in Hanoi area is listed at 66.5 million VND/tael for buying and 67.1 million VND/tael for selling.
In Ho Chi Minh City, DOJI gold buys at the same price but sells at 100,000 VND lower than in Hanoi.
SJC gold is listed at 66.45 million VND/tael for buying and 67.05 million VND/tael for selling.
PNJ Gold is buying at 66.6 million VND/tael and selling at 67.15 million VND/tael.
Gold price this morning increased slightly compared to the beginning of the week.
Bao Tin Gold Bao Tin Minh Chau is currently listed at 66.52 million VND/tael for buying and 67.08 million VND/tael for selling.
With domestic gold prices fluctuating slightly and world gold prices anchored at 1,958.2 USD/ounce, equivalent to nearly 55.8 million VND/tael.
If converted at Vietcombank exchange rate, excluding taxes and fees, the difference between domestic and world gold prices is currently over 11 million VND/tael.
World gold forecast to increase slightly next week?
Despite a relatively eventful week affected by many important economic events and data, at the end of the last trading week, the world gold price remained almost unchanged compared to the closing price of the previous trading session and traded in the range of 1,940 USD to under 2,000 USD/ounce.
Analysts warn that after weeks of sideways prices, gold prices are likely to see a slight upward trend.
“Gold has been trading sideways long enough for us to be ready for a bigger move,” said Everett Millman of Gainesville Coins. “Next week, we’ll see gold trading at $1,880 an ounce or rising back into the $2,000 an ounce range.”
Experts predict that gold prices will increase slightly next week.
Meanwhile, other experts predict that the market is pricing in another interest rate hike in July. If that changes, gold will react and may rise in price, as gold investors are paying close attention to macro data, fluctuations in the US dollar and central bank gold purchases.
“Gold is still looking for confirmation that the Fed is done hiking and/or a negative catalyst for the USD. The data will become more sensitive and important in the run-up to the July meeting, where another rate hike seems certain,” said Nicky Shiels, head of metals strategy at MKS PAMP.
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