Gold price on June 19: World and domestic prices both decreased after the FED's decision to keep interest rates unchanged

Photo: THANH DAT

In this afternoon's trading session, the prices of gold bars and gold rings of all brands decreased in both directions (buying and selling).

Specifically, at 2:30 p.m. on June 19, Saigon Jewelry Company (SJC) listed the buying and selling price of SJC gold bars at 117.4-119.4 million VND/tael, down 200,000 VND per tael for both buying and selling compared to the previous session. The buying and selling difference was 2 million VND.

Gold price statistics of Dragon Viet Online Service Joint Stock Company VDOS - Updated at 2:30 p.m. on June 19.

The price of SJC 9999 gold ring is 113.5 million VND/tael for buying and 116 million VND/tael for selling, down 200 thousand VND/tael for both buying and selling.

Meanwhile, DOJI gold bar prices in Hanoi and Ho Chi Minh City were bought at 117.6 million VND/tael and sold at 119.6 million VND/tael, unchanged in both directions (buying-selling) compared to the previous session's close.

This brand listed the price of Doji Hung Thinh Vuong 9999 gold rings unchanged in both buying and selling compared to yesterday's closing price, trading at 115-117 million VND/tael, respectively.

PNJ Gold listed the buying price at 113.7 million VND/tael and the selling price at 116.7 million VND/tael, down 300,000 VND/tael for buying and 100,000 VND/tael for selling compared to the previous session.

As of 2:30 p.m. on June 17 (Vietnam time), the world gold price decreased by 11.6 USD/ounce compared to the previous session to 3,356.49 USD/ounce.

World gold prices today are under pressure to decrease when the US decided to keep the basic interest rate unchanged and cautiously reduce interest rates in the future.

World gold price chart on June 19. (Photo: kitco.com)

The Fed just concluded its two-day monetary policy meeting (June 17-18) with the decision to keep the benchmark interest rate in the range of 4.25% - 4.5%, while forecasting higher inflation and slower growth this year in the context of President Donald Trump's tariff policies taking effect and emerging geopolitical instability.

In a statement released after the meeting, the Fed said it had cut its expectations for economic growth this year, while raising its forecasts for inflation and unemployment in its updated forecasts.

In terms of market prospects, gold prices are likely to face short-term pressure if the FED maintains high interest rates, as investors will be cautious and limit cash flows into gold – an asset that does not yield interest. However, in the event of a significant weakening of the US economy or an escalation of geopolitical tensions, gold remains a safe haven asset and could recover strongly.

Today, the USD-Index increased to 98.98 points; the yield on 10-year US Treasury bonds increased to 4.392%; US stocks were almost flat after the FED meeting; world oil prices increased sharply, trading at 77.31 USD/barrel for Brent oil and 74.24 USD/barrel for WTI oil.

Source: https://baotuyenquang.com.vn/gia-vang-ngay-19-6-the-gioi-trong-nuoc-dong-loat-giam-sau-quyet-dinh-giu-nguyen-lai-suat-cua-fed-213875.html