Gold falls sharply after new developments in the Middle East

In an immediate reaction after US President Donald Trump announced that Iran and Israel had agreed to a ceasefire, the world gold price fell to $3,345/ounce, down $50 from the peak of the day, before recovering slightly to around $3,350/ounce.

Tensions cool down, gold and oil prices fall sharply

Gold prices recorded a strong correction after US President Donald Trump announced that Iran and Israel had agreed to a ceasefire, ending the chain of escalating tensions in the Middle East.

The development comes shortly after the US and Israel launched airstrikes against Iran’s nuclear facilities over the weekend. Iran responded with a missile strike on a US base in Qatar, which caused no casualties and was quickly intercepted.

In an immediate reaction to the new developments , the world gold price fell to 3,345 USD/ounce, down 50 USD from the peak of the day, before recovering slightly to around 3,350 USD/ounce. Currently, the price of gold futures contracts for August 2025 delivery on the Comex floor has also dropped to 3,366 USD/ounce.

World gold prices adjusted down deeply.

Not only gold, many commodities prices have fallen sharply. Brent crude oil prices fell more than 10% as expectations of a de-escalation of the conflict increased. Although the Iranian parliament supported closing the Strait of Hormuz , analysts said the possibility of actual action would be constrained by pressure from China and the risk of economic damage. The Strait of Hormuz is the route through which about 20% of global oil flows .

The DXY index measuring the strength of the USD continued to fall to 98.23 points, as investors increased bets on the possibility of the Fed cutting interest rates soon, following dovish statements from some members of the Fed's Open Market Committee (FOMC).

Exchange rate increases sharply, gold bars remain stable despite deep world adjustments

In the domestic market, international developments have not had a clear impact on gold prices. The price of SJC gold bars is listed at 117.7 million VND for buying and 119.70 million VND/tael for selling, unchanged from yesterday. The price of gold rings has not recorded many fluctuations.

In contrast to the stability of gold, the USD/VND exchange rate increased sharply. On the morning of June 24, the State Bank announced the central exchange rate at 25,058 VND/USD, an increase of 30 VND compared to the previous session. At Vietcombank, the trading exchange rate was 26,030 VND/USD (buy) and 26,310 VND/USD (sell), an increase of 31 VND/USD . For more than a week now, commercial banks have continuously anchored at the maximum ceiling rate according to regulations, 5% higher than the central exchange rate.

In the recently published currency market report, experts from Yuanta Vietnam Securities assessed that the exchange rate at banks maintained close to the ceiling of the range, showing that the demand for USD is still high. At the same time, the US's participation in the war in the Middle East is assessed to create short-term pressure on the USD/VND exchange rate .

According to Mr. Dao Hong Duong , an expert at VPBankS , in 2025, the USD exchange rate will be affected simultaneously by the strong increase in debt payment demand, the difference in interbank interest rates between USD and VND, and speculative sentiment in safe-haven assets. However, experts from VPBankS believe that these factors are short-term and the State Bank has enough room to stabilize the exchange rate without adjusting interest rate policy.

On the free market, the selling price of USD is 26,390 VND, slightly down from yesterday but still significantly higher than the bank.

Source: https://baodautu.vn/vang-roi-sau-sau-buoc-chuyen-moi-o-trung-dong-d311630.html