•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
On June 21, at SJC, bullion was quoted at 144.2–147.2 million VND per tael, while plain gold jewelry was priced at 144.2–147.3 million VND per tael. Bao Tin Manh Hai listed bullion at 144.2–147.2 million VND per tael and plain round-cut jewelry at 143.0–147.5 million VND per tael. At PNJ and DOJI, bullion and jewelry were both quoted at 144.2–147.2 million VND per tael.
Last week, gold prices rose strongly in the early sessions, increasing by about 4–4.5 million VND per tael to near 152 million VND per tael. However, on June 19, gold reversed unexpectedly and fell by 4.5–5 million VND per tael.
On the international market, spot gold was trading at around $4,155 per ounce. Gold prices continued to slide in Friday’s session as underlying stock and US Treasuries markets closed for Juneteenth.
The Fed kept the federal funds rate target range at 3.50%–3.75% during its Wednesday meeting, but its policy stance shifted clearly toward a hawkish tilt. The market moved from debating rate cuts to pricing the risk that the Fed could raise rates in 2026. Current estimates show a 38.5% probability of a rate hike in July and 51.7% in September, while the scenario of two rate hikes by the end of the year remains open.
Repricing the rate path continues to highlight opportunity costs for gold. Even as oil prices have moved away from risk premium levels, the overall market posture for gold has started to resemble a risk-reduction process rather than a panic sell-off.
“This is not a panic sell-off,” said Laurence Booth, Global Head of Markets at CMC Markets, noting that the declines have been relatively orderly despite gold losing more than $200 in a few days.
Booth said a more important signal lies in physical demand. The narrowing premium in China and other major markets has removed a significant source of support, leaving gold without a clear catalyst unless macro prospects return to lower rates or new tensions arise.
The Hormuz Strait remains the greatest geopolitical risk. The latest impact on the market is described as less inflation-driven than earlier. Maritime traffic has begun to resume after the US–Iran memorandum, helping Brent crude around $79.50 per barrel and US crude around $75.85. However, shipping disruptions have not fully normalized: mine-related hazards, shipping risk, and a backlog of vessels mean the route is only gradually easing oil supply shocks and has not yet stabilized enough to erase the geopolitical risk premium completely.
For gold, the combination creates a dilemma. Lower oil prices reduce inflation-hedge demand, while unresolved US–Iran tensions mean safe-haven demand has not disappeared completely.
Bitcoin (BTC) investors who use steady dollar-cost averaging (DCA) may be underperforming versus strategies that adjust exposure to the market’s cycle, according to new research arguing that Bitcoin’s behavior differs from traditional long-duration assets.
In a report cited by Markus Thielen of 10x Research, Bitcoin’s market…
