The domestic gold price remained stable at 68 million dong / tael, the world gold price still had confidence to increase


Experts forecast that next week, the world gold price will go sideways. Meanwhile, in the domestic market, the gold price fluctuated around 68 million dong / tael.

Opening the session on June 19, the domestic gold price was listed by Phu Quy Gold and Silver Company at 67.85 - 68.6 million VND / tael. This price decreased by 50,000 VND / tael in both buying and selling directions compared to the previous trading session. The price of round smooth rings listed at 54 - 54.8 million dong / tael (buy in - sell), down 250,000 dong / tael compared to yesterday.

Doji Jewelry Group listed the price of SJC gold bar at 67.8 - 68.65 million dong / tael (buy in - sell). This price decreased slightly by 50,000 VND / tael compared to yesterday.

On the international market, on the morning of June 19 (Vietnam time), the world gold price was at 1,840 USD / ounce. According to the current market price, the converted world gold price is equivalent to 51.8 million VND / tael (excluding tax fees), about 16.9 million VND / tael lower than domestic gold.

The Kitco News survey results on next week's gold price trend show that most Wall Street analysts have confidence in next week's gold price. In which, 33% of investors forecasting that gold prices will increase, 20% of investors forecasting a decrease and 47% expect to go sideways.

Main Street online poll attracted 1,145 individual investors to participate, with 56% of the forecast for gold prices to rise next week; 24% of the participants believe that gold has declined and 19% have the view that the price of gold is going sideways.

According to Colin Cieszynski, strategist at SIA Wealth Management, gold has done its job well, despite the massive rate hike by the US Federal Reserve (Fed). There is a high possibility that gold prices will increase next week.

Mr. Adam Button - Director of currency strategy at Forexlive, predicted, if the US economy falls into a recession, investors will have no place to shelter. That said, gold will outperform assets. Especially when the Fed stopped raising interest rates, the Government started spending again, gold reached $ 2,000 / ounce.

On the domestic money market, on June 19, the central rate was listed by the State Bank at 23,089 VND / USD, unchanged from the previous session.

The USD exchange rate was listed by the Joint Stock Commercial Bank for Foreign Trade (VCB (HM: VCB)) at 23,070 - 23,380 VND / USD (buy in - sell).

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