(NLDO) – Gold prices continue to rise today as the market worries about rising US-China trade tensions
The price of gold rings at the end of February 5 (the 8th day of Tet) reached 90.5 million VND/tael
Last night, the world gold price reached 2,884 USD/ounce. At this price, due to some investors selling to take profits, by 6:00 a.m. on February 6, the gold price today dropped to 2,867 USD but still increased by 23 USD compared to the same time the previous day, which was 2,844 USD/ounce.
In Vietnam, due to the high world gold price and purchasing power, at the end of the 8th day of Tet (February 5), the selling price of SJC gold was 91 million VND/tael. The price of gold rings also reached 90.5 million VND/tael.
Gold prices continued to hit new records as investors increased their demand for safe-haven assets due to growing concerns about US-China trade tensions and their potential impact on economic growth.
Peter Grant, an analyst at Zaner Metals, said gold continues to be heavily influenced by uncertainties related to the US imposing a new 10% tariff on China and retaliatory measures from this country, making the market nervous. From there, the flow of money to safe havens is the main factor influencing gold prices.
Meanwhile, the latest report from the World Gold Council (WGC) shows that in 2024, central banks will buy more than 1,000 tons of gold.
Looking ahead, Joseph Cavatoni, a market analyst at the WGC, said central bank gold holdings remain strong, as rising government debt and changing geopolitical conditions will spur more countries to continue buying gold.
Source: https://nld.com.vn/gia-vang-hom-nay-6-2-tiep-tuc-lap-ky-luc-moi-196250206062520929.htm
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