At the end of the trading session on January 30, the world spot gold price increased by 37 USD to 2,795 USD/ounce. During the session, the gold price at one point exceeded 2,800 USD/ounce, far surpassing the highest price of 2,790 USD/ounce set at the end of October 2024.
The market rose on safe-haven demand as the deadline for the US to impose tariffs on Mexico, Canada and China approached. Meanwhile, investors also waited for the US inflation report to predict the Federal Reserve's interest rate plan.
"Uncertainty and concerns about US President Donald Trump's policies are increasing. New technical buying pressure is emerging as gold and silver prices are both trending higher," said Jim Wyckoff, market analyst at Kitco Metals.
The dollar index fell 0.2%, making gold less expensive for buyers with other currencies. The yield on the 10-year US government bond also fell to its lowest in more than a month, partly supporting gold prices.
"Gold has emerged as a haven asset. Investors are looking for a safe haven against volatility," said Susannah Streeter, director of currencies and markets at financial services firm Hargreaves Lansdown.
The Fed kept its benchmark interest rate unchanged, in line with market expectations. Fed Chairman Jerome Powell said he was in no rush to cut rates. The latest data showed that US GDP growth slowed in the fourth quarter of 2024. However, domestic demand remains strong. The personal expenditures (PCE) index - the Fed's preferred inflation measure - will be released today, January 31.
TB (summary)Source: https://baohaiduong.vn/gia-vang-the-gioi-vuot-2-800-usd-moi-ounce-404203.html
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