Gold price today, April 17: Strong increase, setting a new record

Gold price increased dramatically today

Last night, the world gold price increased sharply by 184 USD/ounce, from 3,270 USD/ounce to 3,354 USD/ounce at 6:00 a.m. on April 17 (Vietnam time). This is the highest price ever, reflecting investors' concerns in the context of global economic instability, the US's aggressive trade policy and geopolitical tensions between major powers.

Chinese citizens and the People’s Bank of China (PBoC) are actively buying gold, according to a report from brokerage SP Angel. Some analysts believe that China may be accelerating its plan to reduce its dependence on the US dollar (de-dollarization) by selling US Treasury bonds and accumulating gold. This is driven by new economic sanctions and tariffs from the US, raising concerns about the stability of traditional financial assets.

New US tariffs, especially the potential ban on high-tech chip exports to China, have weighed on the stock market. Shares of AI chip giant Nvidia fell sharply on news that the company could suffer a $5.5 billion loss due to the ban, prompting investors to pull money out of stocks and into safe haven assets like gold.

In Vietnam, domestic gold prices also increased sharply following the world trend, combined with heated domestic purchasing power. As of the end of April 16, SJC gold price reached 115.5 million VND/tael (selling price), while ring gold price was at 113.5 million VND/tael.

Buy and sell price list

According to Thy Tho (NLDO/Photo; Tan Thanh; graphics: Chi Phan)

Source: https://baogialai.com.vn/gia-vang-hom-nay-17-4-tang-manh-lap-ky-luc-moi-post319258.html