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Domestic gold prices in Vietnam closed lower on June 17, reversing an earlier gain of about 300,000 VND per tael and falling roughly 500,000 to 1,000,000 VND per tael.
At SJC, the bullion buying price fell 1,000,000 VND per tael to 148,800,000 VND per tael, while the selling price declined 500,000 VND per tael to 151,300,000 VND per tael.
Jewelry gold also moved similarly, quoted at 148.7–151.2 million VND per tael.
At DOJI, bullion prices declined to 148.8–151.3 million VND per tael. Plain 9999 jewelry gold fell 1,000,000 VND on the buy side and 500,000 VND on the sell side to 149.0–151.5 million VND per tael.
Despite the domestic decline, the world gold price rose by about 20 USD/ounce to 4,360 USD/ounce. According to Kitco News, spot gold edged higher while spot silver eased in early US trading on Wednesday.
Early trading reflected a mix of macro factors. Oil stayed below 80 USD/barrel, while US stock index futures rose slightly. Investors continued adjusting positions ahead of a Federal Reserve policy decision expected later that day.
The broader backdrop is shaped by opposing pressures: easing inflationary pressure from energy prices versus the risk that the Fed maintains a tight policy stance.
Brent crude remained below 80 USD/barrel after Iran resumed oil shipments and Washington and Tehran moved closer to a deal to reopen the Hormuz Strait. The US–Iran deal boosted expectations that Hormuz could reopen soon, which would restore global oil flows; however, the process is not complete, and Iran’s full export recovery faces operational challenges. Mine-clearing and supply-chain normalization may also take more time.
Gold stayed above 4,300 USD/ounce but traded within a 4,000–4,500 USD/ounce range as markets awaited policy signals, updated economic projections, and the first press conference after the Fed chair’s meeting.
Before the Fed meeting, markets largely priced out near-term rate cuts, shifting attention to the Fed’s SEP. Investors were focused on whether the dot plot would remove the final expected rate cut for 2026, indicating no cuts this year or even potential rate hikes later in the year.
A hawkish Fed outlook could cap gold’s recovery above 4,300 USD/ounce and challenge silver’s 69–70 USD/ounce range. Conversely, a softer message from Fed Chair Warsh could push yields and oil lower, supporting precious metals in the early week.
