Gold prices today, June 13, continue to go up as the US is expected to have one interest rate cut in 2024, and data related to inflation in this country has stagnated.
Gold prices today fluctuated in the context of the US announcing the consumer price index (CPI) in May 2024 increased by 3.3%, unchanged from the previous month.
This shows that inflation in the US is showing signs of slowing down, creating conditions for the Federal Reserve (FED) to soon lower interest rates.
Last night on June 12, after ending the 2-day monetary policy meeting, the FED announced to keep interest rates unchanged at 5.25-5.5% and expected to have another interest rate cut by the end of 2024.
In response to the above information, the USD has decreased in price, bond interest rates have fallen to 4.2%, meaning bond values have increased.
This factor has stimulated investors to sell bonds and shift capital to precious metal. Today’s gold price has momentum to go up.
Developments in last night’s trading session showed that the world gold price sometimes reached 2,340 USD/ounce.
However, at this price, some investors have sold for a profit.
Gold price today (June 13), at 6 o’clock, dropped to 2,322 USD/ounce but still increased 7 USD compared to the price at the same time the previous day which was 2,315 USD/ounce.
Previously, in Vietnam, the price of SJC gold bars on June 12 was kept unchanged at 76.98 million VND/tael by 4 commercial banks (Vietcombank, Agribank, BIDV, VietinBank) and SJC Company.
People continue to line up to trade gold bars, but purchasing power is somewhat reduced compared to many days ago.
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