Gold prices today on the world market are trending upwards.
The price of gold today fluctuates against the backdrop of the US announcing a Consumer Price Index (CPI) for May 2024 showing a 3.3% increase, unchanged from the previous month.
This indicates inflation in the US is showing signs of slowing down, paving the way for the Federal Reserve (FED) to consider an early interest rate cut.
Last night, June 12, after concluding a 2-day monetary policy meeting, the FED announced maintaining the interest rate at 5.25-5.5% and forecasted a single interest rate cut by late 2024.
In response to this information, the USD depreciated, bond yields fell to 4.2%, indicating increased bond values. This stimulated investors to sell bonds and shift capital into precious metals.
Gold prices today have the momentum to rise.
During overnight trading, gold prices peaked at $2,340 per ounce. However, at this price level, some investors sold off to realize profits.
Gold price today (June 13), at 6:00 AM, stood at $2,322 per ounce, up $7 compared to the previous day’s price of $2,315 per ounce.
Previously in Vietnam, SJC gold bars on June 12 remained unchanged at VND 76.98 million per tael by four commercial banks (Vietcombank, Agribank, BIDV, VietinBank) and SJC Company.
People continue to queue for gold transactions, although purchasing power has slightly decreased compared to previous days.
