(NLDO) – Gold prices today have not stopped increasing as the “health” of the USD is still weakening, and there is a lack of clarity surrounding US policy plans.
World gold price at 6am on January 23 reached 2,756 USD/ounce
The news has investors worried that it could spark a trade war, increasing market volatility.
The US dollar index fell to 108.24, weakening the dollar. Gold is priced in US dollars and becomes more attractive to holders of other currencies.
Ryan McIntyre - Senior Investment Director at Sprott Asset Management commented that the uncertainties related to the tariffs that the US is expected to apply will have a certain impact on the gold market.
Specifically, President Donald Trump said his administration is discussing imposing a 10% tariff on goods imported from China; Mexico and Canada could face tariffs of about 25%.
According to analysts, the policies proposed by Mr. Trump are considered inflationary, potentially forcing the US Federal Reserve (FED) to maintain high interest rates to curb rising commodity price pressure.
Immediately, many people continued to invest in gold to hedge against risks. The world gold price at 6am on January 23 reached 2,756 USD/ounce, an increase of 11 USD compared to the same time the previous day at 2,745 USD/ounce.
Previously, in Vietnam, the price of SJC gold at the end of January 21 was sold by banks at 88.2 million VND/tael. SJC Company sold gold rings at 87.7 million VND/tael.
Source: https://nld.com.vn/gia-vang-hom-nay-23-1-tang-tiep-19625012306150648.htm
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