ANTD.VN - Gold prices are expected to continue to "heat up" as economic and geopolitical instability increases, further fueled by the deep divide between the US and Europe.
This morning, domestic gold prices continued to increase. SJC gold increased by 200,000 VND per tael, combined with the increase of 300,000 VND in yesterday's session, the current price of this gold brand is trading around 88.30 - 90.80 million VND/tael.
Gold rings also saw a similar increase. Accordingly, SJC 999.9 plain round rings were listed at VND88.30 - 90.60. Bao Tin Minh Chau round rings were VND89.25 - 90.80 million/tael; DOJI rings were VND89.30 - 90.80 million/tael; Phu Quy rings were VND89.20 - 90.70 million/tael.
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Gold is expected to continue to "heat up" as instability increases. |
In the international market, the US market is closed for Presidents Day (February 17). European and Asian markets recovered slightly after a strong sell-off last Friday, with spot gold trading around $2,890 an ounce, up nearly $10 since the start of the week.
Although the precious metals market is facing selling pressure as gold prices have broken through their previous highs in the past week, many experts are optimistic that the decline will soon trigger a buying spree at bargain prices. Because in the long term, they still expect gold prices to remain well supported as geopolitical uncertainty continues to increase.
The precious metal appears poised to consolidate its position above $2,900, supported by its safe-haven demand as traders hedge their portfolios against the risk that US tariffs could spark a multi-front trade war, thus weakening the global economy.
Also supporting gold prices is ongoing geopolitical uncertainty, fueled by deepening divisions between the US and Europe. US Vice President JD Vance criticized Europe at the Munich Security Conference for what he called a “decline in democratic values”.
This shows that the transatlantic relationship is not only tested by crises in Ukraine, the Middle East or the issue of sharing defense responsibilities, but also by differences in core values.
Along with geopolitical uncertainty, some analysts say gold could find further support if economic data this week shows slowing economic activity and rising inflationary pressures.
Source: https://www.anninhthudo.vn/gia-vang-du-bao-tiep-tuc-di-len-post603735.antd
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