(NLDO) – After many days of strong price increases, today's gold price has cooled down as investors sold to make a profit.
Gold prices are being strongly affected by US trade policies.
At around 6:00 a.m. on February 20, the world spot gold price was at 2,935 USD/ounce, down 10 USD compared to the highest price in last night's trading session of 2,945 USD/ounce.
Previously, in Vietnam, due to the increase in world gold prices on February 19, the price of SJC gold reached 91.9 million VND/tael. The price of gold rings also jumped to 91.7 million VND/tael.
The domestic and foreign gold markets are being strongly affected by developments of the US Federal Reserve (FED) and US trade policies.
President Donald Trump's latest announcements of 25% tariffs on imported cars, semiconductors and pharmaceuticals follow the imposition of tariffs on imported steel and aluminum announced on February 9.
These trade policies have drawn mixed reactions. Minutes from the Fed’s latest meeting showed that some members anticipated positive economic growth from the tax changes. However, others expressed concern about the inflationary impact of higher tariffs on imported goods.
Source: https://nld.com.vn/gia-vang-hom-nay-20-2-sut-giam-nha-dau-tu-ban-chot-loi-196250220064848082.htm
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