(NLDO) - Although US stocks were sold off and the USD was still falling in value... the price of gold today still plummeted because few people invested.
Gold price in the world today decreased
At around 6:00 a.m. on March 11, today's gold price was trading at 2,886 USD, down 24 USD compared to the previous day's opening price of 2,910 USD/ounce.
Last night, the stock market sold off, causing the Dow Jones index to drop sharply by 900 points, the Nasdaq to drop by 727 points, and the S&P 500 to drop by 155 points. The reason is believed to be that stock investors are increasingly concerned that trade tariffs will cause an economic recession in the US.
On the other hand, the USD is also shunned by investors, so the value of this currency has also decreased.
However, money still does not flow strongly into the gold market, making it impossible for world gold prices to increase.
Meanwhile, some investors have sold gold to recover capital.
US bond interest rates down to 4.2%, meaning bond values increase, attracting investors' interest...
As a result, the gold market lacks buyers. The sharp drop in the world gold price today is inevitable.
In Vietnam, at the end of March 10, the selling price of SJC gold was 92.9 million VND/tael, the price of gold rings was 92.8 million VND/tael.
Source: https://nld.com.vn/gia-vang-hom-nay-11-3-bat-ngo-giam-rat-manh-196250311062716567.htm
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