At 9:15 a.m. on June 24, Vietnam time, the world gold price continued to fall after US President Donald Trump posted on the social network Truth Social on June 23, announcing that Israel and Iran had agreed to a comprehensive ceasefire.
Donald Trump's announcement came about five hours after Iran launched an attack on a US military base in Qatar in response to Washington's bombing of Tehran's nuclear facilities last weekend.
This information caused gold to be sold off heavily, continuing to drop rapidly to 3,347 USD/ounce, down about 20 USD/ounce compared to the previous session.
Gold prices also retreated from the $3,400/ounce mark in the first days of the week.
Previously, the gold market also had unexpected developments when gold prices cooled down, instead of being a safe haven for investors, when tensions in the region between Israel and Iran escalated.
Some analysts say the market has been “surprisingly calm” following US strikes on Iran; there has been no sign of a flight from risk assets in recent international trading sessions.
SJC gold bar price has remained unchanged in the past 3 days.
The domestic gold market is also stagnant, when the price of SJC gold bars is kept unchanged by SJC, PNJ, DOJI , and Bao Tin Minh Chau companies at 117.7 million VND per tael for buying and 119.7 million VND per tael for selling.
Similarly, the price of 99.99% gold rings and jewelry gold also remained stable at VND113.7 million/tael for buying and VND116.2 million/tael for selling.
Domestic gold prices have remained unchanged over the past three days, despite the world gold price continuously falling.
This development has widened the gap between domestic and international gold prices. Currently, the world gold price converted according to the listed exchange rate is about 106.2 million VND/tael, about 13.5 million VND/tael lower than SJC gold bars.
Source: https://nld.com.vn/thong-tin-nay-khien-gia-vang-giam-manh-196250624094303285.htm
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