(NLDO) – Gold prices continue to heat up today as the demand for safe havens in precious metals has not cooled down, and US stocks are being sold off.
World gold prices continue to heat up
Last night, the international gold market fluctuated strongly. The world gold price increased by 35 USD from 2,851 USD to 2,886 USD/ounce.
However, at this price, the market has made a move to sell to take profits. The gold price today was forced to go down and by early February 8, it closed the weekend at 2,861 USD/ounce, but still increased by 5 USD compared to the same time the previous day at 2,856 USD.
According to analysts, the world gold price continues to heat up as the demand for capital shelter in precious metals has not cooled down. The reason the precious metals market continues to witness the demand for capital shelter is that investors are increasingly worried about the rapid changes taking place in US policy.
Another factor is that financial investors sold off stocks last night due to concerns about market instability. As a result, the Dow Jones index fell sharply by 444 points, the Nasdaq fell by 268 points, and the S&P 500 fell by 57 points. Accordingly, many people have shifted their capital into precious metals. It is understandable that the price of gold increased sharply at times today.
Previously, in Vietnam, purchasing power on God of Wealth Day (February 7) was quite strong. SJC gold was sold by businesses at 90.3 million VND/tael. The price of gold rings at the end of the day soared to nearly 90 million VND/tael.
Source: https://nld.com.vn/gia-vang-hom-nay-8-2-tang-tiep-196250208064145778.htm
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