Gold prices have fallen or remained unchanged for three consecutive days, is the Middle East war not hot enough?

Domestic gold price today June 24, 2025

As of 10:30 a.m. on June 24, 2025, the domestic gold bar price has remained unchanged for 3 consecutive days. Specifically:

DOJI Group listed the price of SJC gold bars at 117.7-119.7 million VND/tael (buy - sell), the price remained unchanged in both buying and selling directions compared to yesterday.

At the same time, the price of SJC gold bars was listed by Saigon Jewelry Company Limited - SJC at 117.7-119.7 million VND/tael (buy - sell), the price remained unchanged in both buying and selling directions compared to yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 118.7-119.7 million VND/tael for buying and selling. Compared to yesterday, the gold price remained unchanged in both buying and selling directions.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 117.7-119.7 million VND/tael (buy - sell), the price remains unchanged in both buying and selling directions compared to yesterday.

SJC gold price at Phu Quy is traded by businesses at 117-119.7 million VND/tael (buy - sell), gold price does not change in both buying and selling directions.

As of 10:30 a.m. on June 24, 2025, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 114.5-116.5 million VND/tael (buy - sell); the price remained unchanged in both buying and selling directions compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings at 114.6-117.6 million VND/tael (buy - sell); prices remained unchanged in both buying and selling directions compared to yesterday.

The latest gold price list today, June 24, 2025 is as follows:

World gold price today June 24, 2025 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 10:30 on June 24, Vietnam time, was 3,379.14 USD/ounce. Today's gold price decreased by 13.96 USD/ounce compared to yesterday. Converted according to the USD exchange rate at Vietcombank (26,310 VND/USD), the world gold price is about 110.95 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 8.75 million VND/tael higher than the international gold price.

Although the war between Israel and Iran escalated seriously, many people thought that it would push the price of gold up sharply, but the reality was the opposite. The price of gold not only did not increase but also decreased compared to the time before the conflict broke out. The market did not react as expected.

Some experts explain that despite the tension, because the conflict has not spread beyond the Middle East, investors have not really seen gold as an urgent refuge. At the same time, oil prices have also struggled to maintain their gains, reflecting the market's reticence.

David Morrison of Trade Nation said it was notable that the market did not see a massive flight from risk assets in the first trading session of the week. According to him, investors seem to think that the US will keep its military intervention limited but effective, especially in weakening Iran's nuclear ambitions.

In addition, Iran’s ability to retaliate is currently significantly limited. While the situation remains uncertain and it is unclear how far the US has come, or whether military action will continue to escalate, market sentiment remains generally optimistic. There is much speculation about how Iran will respond in the coming period, if it still has the capacity to do so.

International stock markets reacted in mixed ways to the tense developments. Asian and European exchanges traded mixed overnight. In the US, stock indexes are expected to open with slight fluctuations in New York.

Technically, the August gold contract still holds the advantage in the short term. The next target for the buyers is to push the price above the important resistance level at $3,476.30/ounce. On the contrary, the sellers are trying to push the price below the support level of $3,300/ounce.

Technical levels are being closely watched by investors. The first resistance level is the overnight high of $3,413.80 an ounce, followed by $3,450 an ounce. Meanwhile, key support levels are last week's low of $3,356.20 an ounce and June's low of $3,313.10 an ounce.

In the foreign markets, the US dollar index rose slightly, while Nymex crude oil prices also increased, trading around $74.75/barrel. The yield on the 10-year US government bond is currently at 4.39%, showing that financial markets are still reacting cautiously to geopolitical uncertainties and upcoming monetary policy trends.

Gold price forecast

Gold prices are becoming the center of attention in the context of the world constantly facing geopolitical and economic instability. However, experts have quite different opinions on the short-term trend of this precious metal.

Mr. Rich Checkan, Chairman and CEO of Asset Strategies International, believes that escalating tensions in the Middle East will be the driving force for gold prices to rise. According to him, the recent decline in prices has been excessive, creating conditions for the gold market to recover in the coming time.

Colin Cieszynski, chief strategist at SIA Wealth Management, is more cautious, saying that the unpredictable developments from the conflicts are causing gold prices to fluctuate wildly and lack stability. In such a context, he believes that it is reasonable to remain neutral because gold prices can fluctuate unexpectedly in both directions.

From another perspective, Mr. Adrian Day, Chairman of Adrian Day Asset Management, said that gold prices will hardly increase sharply in the short term and tend to move sideways. Although buying power from China has decreased, the market is still supported by Western investors. However, he said that without new factors, gold prices will hardly have a breakthrough.

Marc Chandler, CEO of Bannockburn Global Forex, is bearish. Despite rising tensions between Israel and Iran, gold prices fell this week, posting their biggest weekly decline in five weeks, suggesting market sentiment is going against conventional expectations.

Chandler also noted that the US dollar has rebounded after three consecutive weeks of declines, causing gold to lose some of its appeal. If gold breaks the support zone around $3,290 - $3,295 / ounce, the price could enter a deeper correction cycle. And if it continues to break the $3,265 threshold, the possibility of a drop to $3,200 is entirely possible.

Alex Kuptsikevich, senior analyst at FxPro, shares the view that the short-term downside is quite clear. Although gold is on track to complete its sixth consecutive month of gains, which is also the longest streak in two decades, the current price is too high and shows signs of being overbought.

Gold prices are experiencing strong fluctuations, but according to a forecast from Citi Financial Group, this fever may have peaked. Citi believes that gold prices could fall by up to 25% by the end of 2026, to $2,500-2,700/ounce. Although gold is currently near its historical peak, demand is expected to cool as the US economy gradually stabilizes and the bond market no longer faces major interest rate shocks.

Quoc Duong