Gold bars and gold rings both increased in price
At the end of the trading session on June 26, the price of SJC gold bars was listed by large enterprises at 118-120 million VND/tael (buy - sell), an increase of 500,000 VND each way compared to the previous session. The price of plain gold rings was 113.8-116.3 million VND/tael (buy - sell), an increase of 300,000 VND in both buying and selling.
Domestic gold prices increased in line with world prices. In the international market, gold is traded around 3,334 USD/ounce, equivalent to 105.6 million VND/tael calculated according to the exchange rate excluding taxes and fees.
Domestic gold prices fluctuate according to world prices (Photo: Manh Quan).
Gold prices were supported by a weaker US dollar and growing concerns after US President Donald Trump was considering replacing Federal Reserve Chairman Jerome Powell in September or October.
Fed Chairman Jerome Powell's current term ends in May 2026. Investors are concerned about the future of the Fed's independence, which is driving demand for safe-haven gold.
"Markets are likely to react strongly to any early move to nominate a successor to Mr. Powell," said Kieran Williams, head of foreign exchange trading for Asia at financial markets information and analysis provider InTouch Capital Markets.
This move raises doubts about the Fed's ability to operate independently and undermines its credibility. "If that is the case, the market may adjust its interest rate expectations and reconsider its assessment of the US dollar," he warned.
The market is now closely watching the US GDP report released today and personal consumption expenditure (PCE) data on June 28 to assess the possibility of the Fed cutting interest rates.
USD prices fell across the board
The USD-Index - a measure of the greenback's performance against six major currencies - fell 0.58% from the previous day to 97.1 points.
In the foreign exchange market, the central exchange rate at the end of the session on June 26 was listed by the State Bank at 25,053 VND/USD, down 2 VND compared to the previous session. With a 5% amplitude, the ceiling and floor exchange rates are 26,305 VND/USD and 23,800 VND/USD, respectively.
The USD exchange rate listed by major banks is 25,900-26,290 VND (buy - sell), down 10 VND in both buying and selling directions. Meanwhile, at joint stock banks, the corresponding exchange rate for both buying and selling directions is 26,000-26,300 VND (buy - sell).
In the free market, the USD price is traded at 26,370-26,470 VND (buy - sell), an increase of 50 VND in both buying and selling directions.
Source: https://dantri.com.vn/kinh-doanh/gia-vang-mieng-sjc-len-120-trieu-dongluong-20250627010521361.htm
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