Gold price today (June 29): Deep decrease across the board

Domestic gold price today

Domestic gold bar prices have dropped sharply. On the morning of June 29, gold brands were buying at VND117.2 million/tael and selling at VND119.2 million/tael, down VND500,000/tael compared to yesterday.

Phu Quy SJC Gold buys at 116.5 million VND/tael, down 700,000 VND/tael; sells at 119.2 million VND/tael, down 500,000 VND/tael compared to yesterday.

Gold price today (June 29): Domestic gold prices fell sharply. Illustration photo/suckhoedoisong.vn

Similar to gold bars, gold ring prices also decreased today.

Specifically, the buying price of SJC 9999 gold ring is 113.2 million VND/tael, selling price is 115.7 million VND/tael, down 200,000 VND/tael compared to yesterday.

DOJI in Hanoi and Ho Chi Minh City markets listed 114 million VND/tael for buying and 116 million VND/tael for selling, down 500,000 VND/tael in both directions compared to yesterday.

PNJ brand gold ring price is bought at 113.4 million VND/tael, down 300,000 VND/tael and sold at 116 million VND/tael, down 500,000 VND/tael compared to yesterday.

Phu Quy SJC is buying gold rings at 113.1 million VND/tael and selling at 116.1 million VND/tael, down 300,000 VND/tael in both directions compared to yesterday.

Bao Tin Minh Chau alone stabilized gold ring trading at 114.5 - 117.5 million VND/tael (buy - sell).

Domestic gold bar prices updated on the morning of June 29 as follows:

Yellow	Area	Early morning 28-6	Early morning June 29	Difference
Buy	Sell	Buy	Sell	Buy	Sell
Unit of measure: Million VND/tael	Unit of measure: Thousand dong/tael
DOJI	Hanoi	117.7	119.7	117.2	119.2	-500	-500
Ho Chi Minh City	117.7	119.7	117.2	119.2	-500	-500
SJC	Ho Chi Minh City	117.7	119.7	117.2	119.2	-500	-500
Hanoi	117.7	119.7	117.2	119.2	-500	-500
Danang	117.7	119.7	117.2	119.2	-500	-500
PNJ	Ho Chi Minh City	117.7	119.7	117.2	119.2	-500	-500
Hanoi	117.7	119.7	117.2	119.2	-500	-500
Bao Tin Minh Chau	Nationwide	117.7	119.7	117.2	119.2	-500	-500
Phu Quy SJC	Nationwide	117.2	119.7	116.5	119.2	-700	-500

World gold price today

World gold price ended the week at 3,274.23 USD/ounce, down sharply compared to the previous sessions of the week.

With the domestic gold bar price falling sharply and the world gold price listed at Kitco at 3,274.23 USD/ounce (equivalent to about 103.7 million VND/tael converted according to Vietcombank exchange rate, excluding taxes and fees), the difference between domestic and world gold prices is about 15.5 million VND/tael.

According to experts, in the past week, geopolitical tensions cooled down and economic data continued to soften, causing gold speculators to seem exhausted when the price of the precious metal fell sharply below $3,300/ounce.

Specifically, spot gold started the trading week at $3,380.10 an ounce, but the yellow metal did not spend much time at or above that level in the following days.

After falling to test support around $3,350 an ounce, gold rebounded to $3,380 an ounce at 7:45 a.m. ET on Monday. Spot gold peaked at $3,391 an ounce at 12:30 p.m. the same day, the highest level in the past week.

World gold prices are forecast by most experts to continue to decrease next week. Illustration photo/observervoice.com

Support at $3,350 an ounce turned into resistance at the opening of the Asian session on Tuesday (June 24), with spot gold trading below $3,320 an ounce. On the same day, gold fell below $3,300 an ounce for the first time at the opening of the North American session.

Gold staged a significant recovery, spending the next two days trading in the $3,315-$3,350/ounce range. But it failed to break the resistance level, and by late Thursday evening (June 26), spot gold was back below $3,300/ounce.

However, there was no recovery this time, as gold prices continued to fall throughout the Asian and European trading sessions on Friday (June 27), eventually falling to a weekly low of $3,256 an ounce just 15 minutes before the North American session opened.

Spot gold quickly recovered and was trading at $3,275 an ounce at 10:15 a.m. ET, but that was the end of all the volatility over the past week.

This week, 17 analysts participated in the Kitco News Gold Survey. Six, or 35%, see gold prices rising next week, while nine, or 53%, see prices falling. The remaining two, or 12%, see prices moving sideways next week.

The latest Kitco News weekly gold survey shows that industry professionals are not very bullish on gold’s near-term prospects, while retail traders remain slightly bullish. Gold may find some short-term selling interest, but it will continue to be supported by long-term buying regardless of price, said Darin Newsom, senior market analyst at Barchart.com.

THU UYEN

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Source: https://baodaknong.vn/gia-vang-hom-nay-29-6-dong-loat-giam-sau-257231.html