At the end of the trading session on February 10 on the New York Stock Exchange, the price of gold in the April futures contract fluctuated strongly and closed at 2,934.30 USD/ounce, up 48.8 USD (1.69%).
On February 10, the world gold price increased to an all-time record of 2,938.10 USD/ounce, in the context of investors increasingly concerned about trade tensions due to US President Donald Trump's tariff policies.
According to a VNA reporter in New York, at the end of the trading session on February 10 on the New York Stock Exchange, the price of gold in the April futures contract fluctuated strongly and closed at 2,934.30 USD/ounce, up 48.8 USD (1.69%).
Gold market website Kitco.com quoted experts' analysis that gold prices jumped and set a new record high after President Trump announced that the US would impose a 25% tax on imported steel and aluminum products.
The measure would add to existing trade barriers, such as a 10% tariff on Chinese goods and a proposed 25% tax on imports from Mexico and Canada.
"The tariff war is clearly pushing gold prices higher, reflecting the uncertainty and escalating tensions in global trade," said analyst Edward Meir of financial services firm Marex.
Meanwhile, expert Phillip Streible of Blue Line Futures Fund, predicted that this strong increase is likely a sign that gold prices could reach $3,250/ounce or $3,500/ounce.
Although the impact of tariff policies on the prices of imported goods into the US often has a certain lag, the market often focuses on the Consumer Price Index (CPI) and Producer Price Index (PPI) reports during the week.
These readings could have a significant impact on gold's trajectory, while lower-than-expected figures are likely to weaken the US dollar and push gold prices higher, Meir said.
Source: VNA
Source: https://baophutho.vn/gia-vang-lap-ky-luc-moi-thoi-dai-do-lo-ngai-cuoc-chien-thue-quan-227663.htm
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