Gold rings increased by 250,000 VND/tael, closely following the price of SJC gold bars

At the end of the session on June 28, the price of SJC gold bars was still listed by large enterprises at 74.98-76.98 million VND/tael (buy - sell), unchanged after 18 sessions. The difference between the two buying and selling directions was 2 million VND/tael.

Compared to the peak of 92.4 million VND set on May 10, the price of gold bars has decreased by more than 15 million VND per tael.

The price of gold rings is currently listed at 73.95-75.55 million VND/tael (buy - sell), an increase of 250,000 VND each way compared to the opening session yesterday. Compared to the record peak on May 22, each tael of gold rings has evaporated more than 2 million VND.

Since the beginning of June, the State Bank has increased the supply of gold bars to the market by selling gold directly to four state-owned banks and SJC Company. For more than two weeks, the selling price of gold from the State Bank has remained unchanged, so the selling price of gold from banks and SJC Company has also remained unchanged.

In the international market, the price of gold today reached 2,326 USD/ounce, unchanged from yesterday morning, but up 30 USD compared to the previous session. Currently, the world gold price converted according to the exchange rate excluding taxes and fees is about 5-6 million VND/tael lower than the price of gold bars and 3.5-4 million VND/tael lower than the price of gold rings.

World gold prices have stabilized after the US released an inflation report in line with investors' expectations, raising hopes that the Federal Reserve (Fed) may cut interest rates next September.

The US Commerce Department reported that the core personal consumption expenditures (PCE) price index rose 0.1% last month.

The latest data did not surprise the market, said Michael Brown, senior research analyst at Pepperstone. He expects the Fed to maintain its aggressive monetary policy stance as inflation has yet to fall as expected.

He said that current policymakers are still in no rush to decide to ease monetary policy until they are sure that inflation is falling back to target.

The price of SJC gold bars has remained stable for over 2 weeks (Photo: Manh Quan).

Free USD price anchored above 26,000 VND

In the international market, the USD-Index - a measure of the greenback's strength against a basket of major currencies - has been on an upward trend over the past two weeks, currently hovering around 105.8 points, down 0.04% from the previous day and up 4.47% since the beginning of the year.

The State Bank listed the central exchange rate at 24,260 VND, down 6 VND compared to yesterday . With a 5% margin, banks are allowed to buy and sell USD in the price range of 23,044-25,473 VND.

Major banks buy and sell USD at 25,223-25,473 VND, down 6 VND in both buying and selling. Joint stock banks allow USD transactions at 25,257-25,473 VND.

Foreign exchange agents on the free market listed the USD price at 25,940-26,020 VND/USD, down 10 VND each way compared to the previous one. Since the beginning of the week, the free USD price has increased by 120 VND in both buying and selling directions, setting an all-time high.

Source: https://dantri.com.vn/kinh-doanh/vang-nhan-tang-250000-dongluong-bam-sat-gia-vang-mieng-sjc-20240629070933444.htm