World gold prices fell sharply in the weekend session - Screenshot
Gold prices under pressure to fall
World gold prices have plummeted and ended today's trading week, June 7, at $3,311.67/ounce.
Converted according to the USD exchange rate listed at the bank, this price is equivalent to about 104.69 million VND/tael.
World gold prices fell sharply due to a better-than-expected US jobs report, causing many investors to reduce expectations of interest rate cuts.
Meanwhile, US President Donald Trump, in a post on the social network Truth Social, said that US Treasury Secretary Scott Bessent and two other US government officials will meet with Chinese counterparts in the British capital London on Monday (June 9) to conduct the next round of trade negotiations.
Experts say this information could put downward pressure on gold prices. Over the past week, world gold prices have hovered around the $3,300/ounce threshold.
The world's largest gold ETF SPDR Gold Trust sold a net 1.5 tons of gold, reducing its holdings to 934.2 tons of gold.
However, if we look at the whole week, this fund is net buying. Currently, investors are leaning towards the possibility that the Fed will cut interest rates in September and then have another cut in December.
The price of SJC gold bars is still 12 million VND/ tael higher than the world gold price.
The price of SJC gold bars is still 12 million VND/tael higher than the world gold price - Photo: THANH DAM
Domestically, the selling price of SJC gold bars today is 117.2 million VND/tael, buying price is 114.9 million VND/tael, down 800,000 VND compared to the end of yesterday.
The selling price of 9999 gold rings at SJC Company is 113.5 million VND/tael, buying price is 111.2 million VND/tael.
Compared to the converted world gold price, the price of SJC gold bars is 12.51 million VND/tael higher, while the price of 9999 gold rings is 8.81 million VND/tael higher.
This is still a very high difference compared to the Prime Minister 's directive to reduce the difference between domestic and world gold prices to around 1-2%.
If following the Prime Minister's instructions, the domestic gold price must return to 105.7 - 106.8 million VND/tael.
Source: https://tuoitre.vn/gia-vang-the-gioi-lao-doc-manh-vang-mieng-sjc-van-cao-hon-gia-chung-12-trieu-luong-20250607162143601.htm
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