Gold products at a trading floor in Seoul, South Korea. (Photo: Yonhap/VNA)
Gold prices fell slightly on April 17 after a sharp increase in the previous session as investors took profits ahead of the long weekend. However, a weaker US dollar and escalating US-China trade tensions helped keep gold prices above the important threshold of $3,300/ounce.
Spot gold fell 0.5% to $3,326.51 an ounce, after hitting a record high of $3,357.40 earlier in the session. For the week, gold rose nearly 3%. U.S. gold futures also fell 0.2% to $3,339.90 an ounce.
The gold market may undergo a short-term correction after this week's strong rally and ahead of a rare long weekend in the market, said Tai Wong, an independent metals trader.
Gold prices rose 3.6% in the session on April 16 after US President Donald Trump requested an investigation into the possibility of imposing tariffs on all imported important minerals, in addition to considering tariffs on imported pharmaceuticals and chips.
In another development on the same day, Mr. Trump announced “big progress” in tariff talks with Japan, one of the first face-to-face talks since his series of tariffs on global imports roiled markets and raised fears of an economic recession.
The dollar index rebounded on Thursday but is still on track for a weekly loss. A weaker greenback typically makes gold cheaper for buyers holding other currencies.
In other precious metals, spot silver fell 0.9% to $32.46 an ounce. Platinum fell 1% to $957.18 an ounce and palladium fell 2.3% to $949.72 an ounce.
There will be no precious metals news/reports on April 18, as most markets will be closed for Good Friday. Reuters will resume reporting on this market on April 21.
In the Vietnamese market, Saigon Jewelry Company SJC listed the price of gold bars at 115.5 - 118 million VND/tael (buy - sell)./.
According to VNA
Source: https://baothanhhoa.vn/gia-vang-van-tren-nguong-3-300-usd-co-the-se-trai-qua-mot-dot-dieu-chinh-ngan-245995.htm
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