On the morning of June 12, world
gold was quoted on Kitco at $4,235 per ounce, up $188 per ounce from the early hours of the previous day. Gold prices jumped amid rising US-Iran tensions, together with a decline in crude oil prices toward the end of the session after new signals about a deal. According to experts, the current movement reflects a shift away from leverage and portfolio rebalancing rather than a change in gold's role as a safe haven. Conflicting and sometimes contradictory news flows are increasing uncertainty, prompting investors to de-risk and hold more cash across asset classes.
In the long term, compared with previous cycles, the current uptrend in gold still has room to grow in the coming years. Beyond the short-term fluctuations, the fundamental factors supporting gold remain intact, notably demand for asset diversification, ongoing central bank gold accumulation, and gold's store-of-value role.
Gold price movements today
Domestic price: As of 6:00 on June 12, bullion prices at Doji and SJC were quoted at 133.4 million VND per tael (buy) and 138.4 million VND per tael (sell), up 100,000 VND per tael from the previous session. Meanwhile, Doji-listed gold jewelry was 133.4 million VND per tael (buy) and 138.4 million VND per tael (sell), up 100,000 VND.
International price: World gold price on Kitco stood at $4,235 per ounce, up $188 per ounce from the previous session.
Gold price outlook: Analysts say the biggest pressure on the global gold market today stems from the interest-rate narrative. May US inflation data show consumer prices rising sharply, with the energy sector remaining a notable factor. In an interview with Kitco News, Thorsten Polliet, Emeritus Professor of Economics at the University of Bayreuth and author of Boom and Bust Report, noted that even if gold continues to fall, the long-term uptrend remains intact. While volatility and recent price movements have disappointed many gold investors, the decline from the peak should be viewed as a natural correction after a historically strong rally. Short-term declines are possible, but the overall economic backdrop continues to support this precious metal.
Source: vtcnews.vn
