SJC gold price down to 79.98 million VND/tael

At the time of survey at 5:00 a.m. on June 4, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold at 77.5 million VND/tael for buying and 79.5 million VND/tael for selling.

At Mi Hong Jewelry Company, at the time of survey, the listed price of SJC gold was at 78.5 - 79.98 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 78.00 - 79.98 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 78.30 - 79.98 million VND/tael (buy - sell).

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,350.14 USD/ounce, a difference of 20.99 USD/ounce compared to yesterday's gold price. Converted according to the current exchange rate at Vietcombank, the world gold price is about 71.164 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 6.816 million VND/tael higher than the international gold price.

Gold prices rose in today's trading session as weaker-than-expected US economic data reinforced expectations that the US Federal Reserve (FED) will cut interest rates later this year, causing the dollar and bond yields to fall.

Spot gold was at $2,350.14 an ounce after rising 2% last month. Prices hit an all-time high of $2,449.89 on May 20. U.S. gold futures were up 1% at $2,369.30 an ounce.