Gold price today (afternoon of March 1) recorded stable domestic gold transactions.
Yellow SJC is currently being traded by companies at around VND88.5 million/tael for buying and VND90.5 million/tael for selling, unchanged from the closing price of yesterday's trading session.
Globally, gold markets have had a historic week, setting a new all-time high before suffering a significant decline. The precious metal’s eight-week rally ended abruptly amid a stronger dollar and shifting sentiment around potential tariffs.
Market sentiment was largely influenced by U.S. President Donald Trump’s threat to impose tariffs on imports from Canada and Mexico starting next week. Investors worried about the potential inflationary impact of the expanded tariffs, fueling gold’s initial rally.
The latest Kitco News weekly gold survey shows that bullish sentiment among both industry professionals and retail traders is slowly becoming a minority view as gold prices edged lower with each trading session.
“There is no reason to think that this profit-taking correction will not continue for a while, but we should remember that gold is down less than 4% from its peak so far this year after rising 12% this year,” Adrian Day said.
The drop in gold prices coincided with a sharp drop in U.S. interest rates.” “Up,” said Rich Checkan, president and CEO of Asset Strategies International, although he acknowledged that “this week has been a real bloodbath” for the precious metal.
Daniel Pavilonis, senior commodities broker at RJO Futures, is looking at gold's recent slide in light of economic data and the general market pullback.
“Clearly the tariffs are causing some inflation, inflation is falling, risk appetite across the market. We’re seeing metals fall at the same time as stocks are falling, so it’s a riskier situation,” Daniel Pavilonis stressed.
Source: https://baolangson.vn/gia-vang-hom-nay-chieu-1-3-vang-trong-nuoc-giao-dich-on-dinh-5039502.html
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