Gold price today June 25: Plunging without brakes!

Recorded at 4:30 a.m. on June 25, the price of SJC gold bars at Saigon Jewelry Company, DOJI and Bao Tin Minh Chau all listed the buying and selling prices at 117.50 - 119.50 million VND/tael.

SJC gold bar price at Phu Quy listed the buying price at 117.00 million VND/tael and the selling price at 119.50 million VND/tael.

Saigon Jewelry Company listed the buying and selling prices of SJC gold rings at 113.50 - 116.00 million VND/tael. The gold ring brands Bao Tin Minh Chau, Phu Quy and DOJI traded buying and selling prices at 114.50 - 117.50 million VND/tael; 113.20 - 116.20 million VND/tael; 114.00 - 116.00 million VND/tael, respectively.

By 4:30 a.m. on June 25, Vietnam time, the world gold price had dropped to $3,320/ounce, marking an extension of the decline that began late last week. The main reason is believed to be the cooling geopolitical atmosphere, especially after Israel and Iran reached a ceasefire agreement, reducing demand for safe-haven assets.

In recent weeks, tensions in the Middle East have kept gold prices high as investors flocked to hedge against risk. However, the positive diplomatic event has calmed the wave of concerns, leading to a strong market correction.

“Gold prices are under pressure in the short term due to increased risk appetite, as the market is optimistic about the prospects of an end to the conflict in the Middle East,” said Ricardo Evangelista, senior analyst at brokerage ActivTrades. However, he still considers the $3,300 mark as an important support level that is unlikely to be broken in the near future.

Sharing the same view, Alex Hines, commodity strategist at HBC Futures, commented: “The market is currently re-pricing the risk premium that was previously formed due to concerns about potential supply disruptions and widespread instability in the region.”

Meanwhile, investor attention is quickly turning to US monetary policy, with expectations growing that the Federal Reserve (Fed) could cut interest rates as early as July.

Fed Vice Chair for Supervision Michelle Bowman recently made dovish remarks, saying she was open to cutting rates if inflation continued to cool. “We are getting closer to our 2% target, and there are clear signs of weakness in the labor market,” she said at an event in Chicago.

Fed Governor Christopher Waller also agreed that if unemployment and core inflation data continue to trend positively, a rate cut could be on the cards at the next few meetings of the Federal Open Market Committee (FOMC).

However, Fed Chairman Jerome Powell remained cautious, asserting that the Fed needed “a higher level of confidence” before deciding to adjust policy.

Source: https://baohatinh.vn/gia-vang-hom-nay-256-lao-doc-khong-phanh-post290530.html