On the morning of June 2, SJC gold bars at Eximbank maintained the buying price of 66.5 million VND/tael and the selling price of 66.9 million VND as yesterday. Saigon Jewelry Company - SJC reduced the buying price by 50,000 VND to 66.45 million VND and the selling price by 67.05 million VND; SJC's 4-number-9 gold rings also decreased by 50,000 VND when the buying price dropped to 55.65 million VND and the selling price to 56.6 million VND.

The difference between buying and selling SJC gold rings continues to be maintained at 950,000 VND/tael while the difference between buying and selling SJC gold bars remains at 600,000 VND. SJC gold bars continue to decrease in the opposite direction of the world but are still higher by over 11 million VND.

Gold prices on the world market continued to increase today, reaching 1,977 USD/ounce - recording the highest level in 1 week. Compared to yesterday morning, the precious metal increased by nearly 10 USD. The precious metal increased thanks to the decrease of the USD after weak economic data in the US raised the possibility that the Federal Reserve (Fed) will not raise interest rates at its June meeting. Philadelphia Fed President Patrick Harker said that unless there are any surprises in economic data, he wants to keep interest rates stable in June.

Meanwhile, on the evening of May 31 (US time), the US House of Representatives passed the debt ceiling bill. This is an impressive conclusion to weeks of tense negotiations between US President Joe Biden and House Speaker Kevin McCarthy. Next, the bill will be sent to the US Senate for a vote before being signed by President Joe Biden before June 5 - the time when the US Treasury Department believes there is no more money to pay the expenses.

The success of the debt ceiling negotiations has wiped out this risk for the US. However, some analysts say the overall economic outlook remains gloomy - with the trucking sector underperforming, for example - which keeps demand for safe haven gold high.