Gold rings increase for the third consecutive week, SJC gold bars remain "inactive"

Domestic gold price this afternoon June 30, 2024

At the time of survey at 2:00 p.m. on June 30, 2024, the gold price today, June 30 , on the trading floors of some companies is as follows:

The price of SJC gold listed by the gold house is 74.98 million VND/tael for buying and 76.98 million VND/tael for selling.

The price of 9999 gold this afternoon was listed by DOJI at 74.98 million VND/tael for buying and 76.98 million VND/tael for selling.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 76.00 - 76.98 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 75.50 - 76.98 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 76,000 - 76.98 million VND/tael (buy - sell).

SJC gold bars have been recorded to be stable for about the past month since the State Bank of Vietnam (SBV) implemented a new plan to stabilize the market and narrow the gap between domestic and world gold prices. Therefore, currently, domestic and world gold prices have narrowed to more than 4.5 million VND/tael.

The price of gold rings last week marked the third consecutive week of increase, with the listed transaction price at gold businesses around 73.95 million VND/tael for buying and 75.6 million VND/tael for selling. Compared to the closing price of the previous weekend, it increased by 250,000 VND/tael.

The central exchange rate listed by the State Bank is 24,260 VND/USD, down 4 VND/USD. The USD price at commercial banks is traded around 25,223 VND/USD for buying and 25,473 VND/USD for selling.

Gold price today June 30, 2024, SJC gold price, 9999 gold price, 24k gold price, 18k gold price June 30, 2024. Photo: Can Dung

1. DOJI - Updated: June 29, 2024 08:31 - Website supply time - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell ​​out
AVPL/SJC HN	74,980	76,980
AVPL/SJC HCM	74,980	76,980
AVPL/SJC DN	74,980	76,980
Raw materials 9999 - HN	74,100	74,650
Raw materials 999 - HN	74,000	74,550
AVPL/SJC Can Tho	74,980	76,980

2. PNJ - Updated: June 30, 2024 15:32 - Website supply time - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell ​​out
HCMC - PNJ	73,950	75,600
HCMC - SJC	74,980	76,980
Hanoi - PNJ	73,950	75,600
Hanoi - SJC	74,980	76,980
Da Nang - PNJ	73,950	75,600
Da Nang - SJC	74,980	76,980
Western Region - PNJ	73,950	75,600
Western Region - SJC	74,980	76,980
Jewelry gold price - PNJ	73,950	75,600
Jewelry gold price - SJC	74,980	76,980
Jewelry gold price - Southeast	PNJ	73,950
Jewelry gold price - SJC	74,980	76,980
Jewelry gold price - Jewelry gold price	PNJ Ring (24K)	73,950
Jewelry gold price - 24K jewelry	73,900	74,700
Jewelry gold price - 18K jewelry	54,780	56,180
Jewelry Gold Price - 14K Jewelry	42,450	43,850
Jewelry gold price - 10K jewelry	29,830	31,230

World gold price today June 30, 2024 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 2:00 p.m. today, Vietnam time, was 2,325.19 USD/ounce. Converted according to the current exchange rate at Vietcombank, the world gold price is about 70.461 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 4.519 million VND/tael higher than the international gold price.

Gold price fluctuation chart in the last 24 hours

World gold ended the trading week at 2,325.19 USD/ounce, still up slightly by 5 USD/ounce compared to the end of last week. Last trading week, the precious metal recorded fluctuations within a narrow range, without many strong breakthroughs like previous weeks.

Currently, world gold is still trading in a fairly narrow range with a solid support level of 2,300 USD/ounce, the initial resistance level is 2,350 USD/ounce. Analysts note that the resistance level may be wider at 2,400 USD/ounce.

Phillip Streible, chief market strategist at Blue Line Futures, said some recent economic data has supported the gold market. According to the US Commerce Department, the headline personal consumption expenditures (PCE) price index was flat in May and rose 2.6% year-on-year. This is the US Federal Reserve's preferred inflation measure.

The interest rate futures market is now pricing in a 25 basis point cut in September by the Fed. They initially expected at least six rate cuts, but now expect just two, starting in September.

Gold price forecast

According to Fxstreet analyst Joaquin Monfort, the long-term outlook for gold remains positive. Geopolitical instability in the Middle East, Ukraine, climate change and technology-driven economic challenges are all risk factors that are driving demand for gold as a safe haven.

Most industry professionals plan to stay on the sidelines next week, while retail sentiment is divided on gold's near-term outlook, the latest Kitco News weekly gold survey shows.

Twelve Wall Street analysts participated in the Kitco News Gold Survey, and four, or 33%, predicted higher gold prices next week, while two, or 17%, predicted lower prices. The remaining six analysts were skeptical about gold's direction next week.

Meanwhile, 178 votes cast in Kitco's online poll showed that 86 retail traders, or 48%, predicted gold prices would rise next week. Another 50%, or 28%, predicted the yellow metal would fall, while 42 respondents, or 24%, saw prices continuing to move sideways next week.

Source: https://congthuong.vn/gia-vang-chieu-nay-3062024-vang-nhan-tang-tuan-thu-3-lien-tiep-vang-mieng-sjc-van-an-binh-bat-dong-329158.html