Gold price today June 8: Turning sharply up

At 6 am this morning (Vietnam time), the world gold price on the Kitco floor traded at 1,853 USD/ounce, up 17 USD/ounce compared to the early hours of the morning.

World gold price increased as investors bet on the strong tightening policy of major central banks will keep interest rates high for a long time.

Gold price today June 8: Turning to increase sharply - 1

Gold price turned to rise.

Experts at JP Morning predict gold prices will fall further to an average of $1,800 an ounce in the third quarter, with the prospect of increased risk appetite and continued higher bond yields. In the short term, the market is also focusing on the price index report consumption of the US to get more information about the rate of interest rate hikes of the US Federal Reserve (Fed).

Domestic gold price

At the end of the trading session on June 7, the Saigon Jewelry Company listed the price of SJC gold at 68.7 million dong/tael (buying in) and 69.62 million dong/tael (sold out).

DOJI Group listed the gold price at 68.6 million dong/tael (buying in) and 69.5 million dong/tael (sold out).

Gold price forecast

Technically, the downside in gold is still overwhelming. JP Morgan believes that the price of precious metals will return to the threshold of $ 1,800 / ounce in the third quarter in the context that interest rates are “normalized” by the Fed, while US bond yields may remain higher.

In contrast, the CEO of JPMorgan Chase & Co. Jamie Dimon last week warned of shocks to the background economy in the context of many challenges including risks from inflation and effects from the war in Europe.

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