Domestic gold price today

Domestic gold price early this morning maintained the trading level around 67 million VND/tael. Currently, the domestic precious metal price is listed specifically as follows:

SJC gold price in Hanoi and Da Nang is currently being bought at 66.55 million VND/tael and sold at 67.17 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.

Domestic gold prices fluctuated slightly this morning. Photo: thanhnien.vn

DOJI brand gold price in Hanoi is listed at 66.5 million VND/tael for buying and 67.1 million VND/tael for selling. In Ho Chi Minh City, this brand gold is buying at the same price but selling at 100,000 VND lower than in Hanoi.

Phu Quy SJC gold price is listed at 66.45 million VND/tael for buying and 67.05 million VND/tael for selling. PNJ gold is buying at 66.5 million VND/tael and selling at 67.1 million VND/tael. Bao Tin Bao Tin Minh Chau gold is listed at 66.5 million VND/tael for buying and 67.02 million VND/tael for selling.

Domestic gold price updated at 5:30 am on June 16 as follows:

Yellow

Area

Early morning of June 15

Early morning of June 16

Difference

Buy

Sell ​​out

Buy

Sell ​​out

Buy

Sell ​​out

Unit of measurement:

Million VND/tael

Unit of measurement:

Thousand dong/tael

DOJI

Hanoi

66.4

67

66.5

67.1

+100

+100

Ho Chi Minh City

66.4

67

66.5

67

+100

-

Phu Quy SJC

Hanoi

66.45

67.05

66.45

67.05

-

-

PNJ

Ho Chi Minh City

66.45

66.95

66.5

67.1

+50

+150

Hanoi

66.45

66.95

66.5

67.1

+50

+150

SJC

Ho Chi Minh City

66.55

67.15

66.55

67.15

-

-

Hanoi

66.55

67.17

66.55

67.17

-

-

Da Nang

66.55

67.17

66.55

67.17

-

-

Bao Tin Minh Chau

Nationwide

66.46

67.1

66.5

67.02

+40

-80

World gold price today

Gold prices reversed early this morning, with spot gold rising $15.7 to $1,957.7 an ounce. August gold futures last traded at $1,969.7 an ounce, up $0.8 from early the previous day.

The world's yellow metal continues to prove its resilience as it remains stable after the US Federal Reserve (Fed) left open the possibility of two more interest rate hikes this year. This has made experts more optimistic about gold with the forecast that this precious metal will increase above $2,000/ounce in a sustainable manner.

As more data points to a slowing US economy, it will become clear that the Fed has little room to raise interest rates further, and gold will continue to rally, according to TD Securities head of commodity strategy Bart Melek. Melek added that a surge to $2,100 an ounce is possible.

Recently, experts from the World Gold Council (WGC) said that even if gold faces short-term challenges after the Fed paused its aggressive monetary policy but maintained its "hawkish" stance, investors should continue to consider gold as an important strategic asset.

In an interview with Kitco News, WGC chief market strategist for the Americas Joseph Cavatoni said it was clear the Fed was maintaining a firm “hawkish” stance as it signaled the possibility of two more rate hikes this year.

In a press conference following the central bank's monetary policy decision, Fed Chairman Jerome Powell said that nearly all participants forecast more rate hikes would be appropriate.

While investors are looking forward to a possible pivot, Mr. Powell said that none of the committee members saw interest rates being cut this year as inflation remained high and persistent.

Cavatoni said this “hawkish” stance would continue to put pressure on gold as the opportunity cost of holding a non-yielding asset remains high.

World gold prices increased slightly this morning. Photo: Kitco

However, he added that the Fed’s efforts to bring inflation down to its 2% target would add uncertainty to the global economy. He noted that a high interest rate environment would create some risks for credit markets and could potentially push the economy into recession. “Gold will continue to struggle in the near term as the Fed maintains these high interest rates, but it remains a strategic asset to hold against potential risks in financial markets,” Cavatoni said.

Cavatoni advised investors to monitor risks even as the U.S. economy remains relatively stable in a rising interest rate environment and to protect themselves. The WGC maintained its view that the U.S. economy will likely see a mild recession this year.

While gold's upside potential may be limited through the summer, Cavatoni said he does not expect any significant declines and stressed that gold remains the best-performing asset this year as investors see value in holding a safe-haven asset.

With the Fed remaining hawkish, Cavatoni predicts that gold will face short-term headwinds and prices could fall below $1,900 an ounce. However, he added that even if prices fall $100, it would still be a healthy market.

With domestic gold prices fluctuating slightly and world gold prices listed at Kitco at 1,957.7 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.

TRAN HOAI