Gold price today April 3: Vertical increase, gold sets new record

World gold prices hit a peak, boosted by safe-haven flows as US President Donald Trump's newly signed reciprocal tax decree raised concerns about an escalating trade war.

Accordingly, on Wednesday, President Trump announced that he would impose a basic tax of 10% on all imports into the US and increase taxes on some of the country's largest trading partners, a move that is expected to escalate the global trade war.

At the event, the US President also brought a board showing the tax rates applied to each economy. Of which, the UK, Brazil, Singapore will pay 10% tax. The European Union, Malaysia, Japan, South Korea, and India will pay 20-26%.

Gold prices are set to hit 19 new all-time highs in 2025, including seven unprecedented highs above $3,000 an ounce. Prices are up 18% this year after soaring 27% in 2024.

The reciprocal tariffs are much stronger than expected, which will lead to a sell-off in asset markets and a weaker US dollar, said independent metals trader Tai Wong.

Gold prices hit new highs.

According to Wong, the current environment is perfect for gold. He predicts that prices could rise to $3,200 an ounce in the short term.

Gold price movements today

+ Domestic gold price

At 6:00 a.m. on April 3, the price of gold bars at Doji and SJC was listed at 99.1 - 102.8 million VND/tael (buy - sell), down 300,000 VND/tael (buy) and down 400,000 VND/tael (sell) compared to early this morning.

Meanwhile, the price of gold rings is currently listed by Doji at 98.7 - 101.4 million VND/tael, down 900,000 - 700,000 VND/tael compared to early this morning.

+ International gold price

The world gold price listed on Kitco is at 3,156 USD/ounce, up 47 USD/ounce compared to late yesterday afternoon. Gold futures last traded at 3,159 USD/ounce.

Gold Price Forecast

The break above resistance at $3,147.41/$3,149.84 bodes well for a move to $3,200/oz and lends credence to the outlook for $3,300/oz and $3,500/oz, said Peter Grant, vice president and senior metals strategist at Zaner Metals.

Following Mr Trump's tariff announcement, the US Dollar Index fell 0.4%, making gold cheaper for holders of other currencies.

Meanwhile, the latest jobs report showed that US private payroll growth increased in March. The market is still waiting for more non-farm payroll data for more clarity on the path of US interest rates.

(According to vtcnews.vn)

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