SJC gold bar price turns down, leaves the 120 million VND/tael mark

(Dan Tri) - Domestic gold prices fell across the board as world prices lost the 3,300 USD/ounce mark as tensions in the Middle East eased.

World gold prices fell sharply

At the end of the trading session on June 27, the price of SJC gold bars was listed by large enterprises at 117.7-119.7 million VND/tael (buy - sell), down 300,000 VND each way compared to the previous session. The price of plain gold rings was listed at 113.4-115.9 million VND/tael (buy - sell), down 400,000 VND in both buying and selling.

Domestic gold prices fell in line with international prices. World gold prices traded around 3,273 USD/ounce, down 51 USD compared to the previous price and equivalent to 104.9 million VND/tael calculated at the exchange rate excluding taxes and fees.

Domestic gold prices fell across the board (Photo: Manh Quan).

World gold prices are trending down sharply, on track to record a second consecutive week of decline. Soni Kumari, commodity strategist at ANZ Bank, said that market sentiment is leaning towards risky assets, thereby creating downward pressure on gold prices.

She assessed that the easing of Middle East tensions after the ceasefire agreement, along with progress in US-China trade negotiations, has helped reduce global instability and pulled down oil prices.

In another development, a White House official said that the US had reached an agreement with China, which also somewhat eased investor sentiment.

Market attention will now turn to the Federal Reserve's preferred inflation gauge, the core personal consumption expenditures (PCE) price index, which is expected to rise 0.1% month-on-month and 2.6% year-on-year, according to a Reuters poll.

US President Donald Trump said inflation is under control, so the Fed should lower interest rates. However, so far only two Fed policymakers support cutting interest rates at the meeting next July. Investors believe the possibility of the Fed cutting interest rates will begin in September.

In the coming weeks, experts say gold price movements will likely be driven mainly by Fed policy expectations and fluctuations in the strength of the US dollar, rather than geopolitical events.

Central rate continues to decrease

The USD-Index - a measure of the greenback's performance against six major currencies - fell 0.58% from the previous level to 97.1 points.

In the foreign exchange market, the central exchange rate was listed by the State Bank at 25,048 VND/USD, down 5 VND compared to the previous session. With a 5% amplitude, the ceiling and floor exchange rates are 26,300 VND/USD and 23,795 VND/USD, respectively.

The USD exchange rate listed by major banks is 25,880-26,270 VND (buying - selling), down 20 VND for both buying and selling. At joint stock banks, the corresponding exchange rate for both buying and selling is 25,890-26,280 VND (buying - selling).

In the free market, the USD price was traded at 26,370-26,470 VND (buy - sell), unchanged from before.

Source: https://dantri.com.vn/kinh-doanh/gia-vang-mieng-sjc-quay-dau-giam-roi-moc-120-trieu-dongluong-20250627235749183.htm