Gold price continues to rise today
At 6:00 a.m. on July 11, the world gold price reached 3,324 USD/ounce, up 12 USD compared to the lowest level of the previous night session (3,312 USD/ounce). The price of gold for August delivery also increased by 7 USD, reaching 3,328 USD/ounce.
What factors increase gold prices today?
Gold prices continued to increase today as US President Donald Trump announced that he would impose a 50% tax on imported copper from August 1, and also said that a 50% tax would be applied to Brazil.
Tough statements on US trade tariffs have increased investor concerns, benefiting gold - a safe-haven asset.
US stock indexes moved in opposite directions, reflecting investor caution about global economic developments. The US dollar index rose slightly, adding pressure on gold prices but not enough to curb the increase.
Gold's attractiveness is affected
Meanwhile, global crude oil prices fell sharply to around $66.75 a barrel due to concerns about weakening global energy demand. The yield on the 10-year US Treasury bond is currently at 4.37%, indicating that interest rate expectations remain high, slightly affecting the attractiveness of gold.
Experts say gold prices could continue to rise in the short term if global trade tensions escalate. However, pressure from a stronger US dollar and high bond yields could limit gold’s gains.
Many experts say investors need to closely monitor policy statements from the US Federal Reserve (FED) and tariff developments in the coming days.
Previously, in Vietnam, by the end of July 10, the price of SJC gold was listed at 120.8 million VND/tael for sale, while the price of gold rings was at 116.7 million VND/tael.
Source: https://nld.com.vn/gia-vang-hom-nay-11-7-chua-dung-da-tang-196250711063055567.htm
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