Specifically, the world gold price was listed on Kitco at $3,336.67 per ounce, up $30.54 per ounce from yesterday.
World gold prices rose nearly 1% after the US dollar weakened slightly as the market awaited US-China negotiations later this week and after recent statements by US President Donald Trump on tariffs.
Specifically, spot gold prices rose 0.92% and have risen nearly 3% this week. Since the beginning of the year, gold, considered a safe-haven asset during geopolitical and economic turmoil, has risen over 27%. Meanwhile, US gold futures also rose 1% to $3,338.10 per ounce.
Domestic gold bar prices rose by VND 1 million per tael this morning. (Illustrative image)
The US dollar fell 0.3% against other currencies, making gold cheaper for investors using other currencies. President Trump said an 80% tariff on Chinese goods “sounds like the right number,” as the world’s two largest economies prepare for talks to ease trade tensions.
Tensions between India and Pakistan also contributed to higher gold prices. The two countries accused each other of new military attacks, using drones and artillery, marking the third consecutive day of the most serious conflict in nearly 30 years.
Gold price movements today
+ Domestic gold price
At 6 am on May 10, the gold bar price at Doji and SJC was listed at VND 119.5 – 121.5 million/tael (buying – selling), an increase of VND 1 million/tael in both directions compared to yesterday.
Meanwhile, the gold ring price is currently listed by Doji at VND 114 – 116.5 million/tael (buying – selling), unchanged from yesterday.
+ International gold price
The world gold price listed on Kitco is at $3,336.67 per ounce, up $30.54 per ounce from yesterday. Gold futures last traded at $3,338 per ounce.
Gold price forecast
Grace Peters, Global Investment Strategist at JPMorgan, said that geographic and currency diversification is key to successfully navigating today’s markets, and gold is expected to reach $4,000 per ounce in the base case scenario if US and global GDP grows over the next 12 months.
Meanwhile, according to David Meger, Director of Metal Trading at High Ridge Futures, tariff-related uncertainties remain the main factor supporting gold prices. However, he also stated that the market may enter a sideways phase or a downward correction in the coming period.
Mr. Michael Barr, Governor of the Federal Reserve (Fed), warned that President Trump’s trade policy could increase inflation, reduce growth, and push up unemployment rates by the end of this year, presenting policymakers with a difficult task in balancing economic issues.
The Soaring Price of Gold: Surging Past $3,400/oz After a Steep Plunge
The global gold price continues to fluctuate within a wide range, experiencing intra-day swings of several dozen to nearly a hundred dollars per ounce.
“Gold Prices Surge as the Dollar Weakens: SPDR Gold Trust Sells Over 6 Tons of Gold This Week”
Global gold prices rose on Friday, May 9, trading above the $3,300/oz mark after a brief dip below this level earlier in the session.
Gold Prices Surge Again After a Dizzying Drop
Global gold prices continue to fluctuate significantly, surging over 2% this morning (April 24th) in Asian markets after a 3% drop in the previous session in the US.
The Trade War Intensifies: US Slaps Tariffs of up to 145% on China as Gold Prices Surge to New Heights, Breaching the $3,200 Mark on April 11th.
The need for safe havens continues to intensify as U.S. stock markets tumble yet again amidst escalating trade tensions.
Gold Prices Surge Amid Buying Frenzy from China on April 9th
Today, gold prices surged as investors sought safe-haven assets amid concerns over the US Treasury bond market. Notably, a report suggests that gold is also being bolstered by a wave of buying from China, driven by fears of renminbi depreciation.
