SJC gold bar price has not moved yet, the world is improving, speculators are optimistic - Vietnam.vn (2024)

LIVE UPDATES TABLE GOLDEN PRICE TODAY 22/6 , and RATE TODAY 22/6

Update gold price developments today June 22, 6

Domestic gold price Gold rings recorded a sharp increase in world prices, exceeding the mark of 76 million VND/tael while gold bars remained unchanged.

SJC gold bar price announced by 4 state-owned commercial banks including Agribank, BIDV, Vietcombank and VietinBank this morning continues to maintain the old level, 76,98 million VND/tael. This is the 12th consecutive session that the price of SJC gold bars sold by banks remained unchanged at 76,98 million VND/tael.

Saigon Jewelry Company Limited (SJC) officially launched selling SJC gold bars online at the website https://tructuyen.sjc.com.vn and stopped distributing direct registration numbers.

Thus, this is the last unit after four state-owned commercial banks Agribank, BIDV, Vietcombank and Vietinbank to change the form of selling SJC gold bars from direct to online to create favorable conditions for customers in need. Buy gold without wasting time waiting in line to get numbers.

According to Saigon Jewelry Company Limited, customers using personal electronic devices (smartphones, tablets, personal computers...) access the link https://tructuyen.sjc .com.vn to register to buy gold bars at SJC transaction points. Customers can register to make an appointment to buy SJC gold bars at the desired location and receive appointment confirmation with information about the location and time of the transaction.

World gold price heading for the second consecutive week of increase, thanks to demand for safe-haven assets amid tensions in the Middle East and speculation that the US Federal Reserve (Fed) may reduce interest rates later this year.

Notes of TG&VN At 18:30 on July 21, the world gold price on the Kitco exchange was at 2.365,7 – 2.366,7 USD/ounce, a slight increase of 6,1 USD compared to the previous session.

Statistics show that the number of initial applications for US unemployment benefits fell last week, while the number of new homes built in May fell to the lowest level in nearly 4 years.

Dominating investor sentiment is recent US economic data showing that the world's largest economy is showing signs of slowing growth. Economic data has the Fed still considering cutting interest rates in September.

Data from CME's FedWatch Tool shows traders are betting about a 58% chance of the Fed cutting interest rates by 0,25 percentage points at its September meeting, down from more than 9% previously. 60 week.

Gold price today June 22, 6: SJC gold bar price has not moved yet, the world is improving, speculators are optimistic. (Source: CNBC)

Summary of SJC gold bar prices at major domestic business brands at the closing times of the afternoon trading session on June 21:

VBQ Saigon Group listed SJC gold price at: 74,98 - 76,98 million VND/tael

Doji Group lists SJC gold price at: 75,3 - 76,98 million VND/tael.

PNJ system listed at: 74,98 - 76,98 million VND/tael.

VBĐQ Phu Quy Group listed at: 75,5 - 76,98 million VND/tael.

SJC gold price at Bao Tin Minh Chau is listed at: 75,5 - 76,98 million VND/tael.

Investors consider establishing speculative status

Commenting on the gold price outlook, chief strategist Bart Melek of TD Securities said that the market is increasing expectations that the Fed is about to begin loosening monetary policy. “I think many investors may be considering establishing a bullish position in the gold market,” he said.

Sharing the same opinion, analyst Jim Wyckoff of Kitco Metals commented: "Gold bulls have become more optimistic this week, after receiving a weaker-than-expected US retail sales report. Technically, bulls targeting August gold contracts have the upper hand in the short term.”

According to this expert, the next goal of bulls is to bring gold prices to close above the strong resistance level of 2.406,7 USD/ounce - which is the high of June.

On the contrary, bearish speculators want to push gold prices below the strong support threshold of 2.304,2 USD/ounce - which is the low of June.

Besides, Mr. Jim Wyckoff said that the immediate resistance level for gold price is 2.379,5 USD/ounce, followed by 2.400 USD/ounce. The support levels are respectively 2.350 USD/ounce and then 2.338,5 USD/ounce.

Meanwhile, French bank Societe Generale (SocGen) said that geopolitical uncertainty will continue to encourage countries to diversify foreign exchange reserves away from the USD and give investors reasons to keep gold in portfolio.

SocGen's report states: "Gold prices were one of the assets that brought the best returns in the first half of this year, ranked between Japanese stocks and US stocks. Strong gold purchasing power, persistence of inflation, rising public debt, geopolitical fluctuations and central banks buying gold are factors that make us optimistic about the gold price outlook."