Gold prices continue to be supported by general investor optimism and the one-month delay in US import tariffs. While changing investor sentiment could continue to weigh on gold, commodity analysts at Metals Focus expect gold prices to remain well supported for the rest of the year.
Concerns about unsustainable global debt are another factor that could support gold's long-term bullish trend, the British precious metals research firm added.
Specifically, investors are closely watching the US government debt, which has now exceeded $37 trillion. At the same time, the new budget law is expected to increase the budget deficit by nearly $4 trillion over the next 10 years. Concerns about the size of the US government debt have sent long-term bond yields soaring and pushed the US dollar to its lowest level in years.
Gold price movements today
+ Domestic gold price
At 6:00 a.m. on July 11, the price of gold bars at Doji and SJC was listed at 118.6 - 120.6 million VND/tael (buy - sell), down 400,000 VND/tael compared to early this morning.
Meanwhile, the price of gold rings is currently listed by Doji at 115 - 117 million VND/tael (buy - sell), down 500,000 VND/tael.
+ International gold price
The world gold price listed on Kitco is at 3,322 USD/ounce, up 5 USD/ounce compared to late yesterday afternoon. Gold futures last traded at 3,325 USD/ounce.
Gold Price Forecast
Mr. Nicholas Frappell, Director of Global Institutional Markets at ABC Refinery, commented that gold prices have recovered thanks to the weakening of the USD and escalating trade tensions.
Investors are looking for a safe haven amid concerns about persistent inflation, geopolitical tensions or potential instability in the global financial system. Gold's resilience, even in the face of positive economic indicators, underscores its status as a risk-diversifier and store of value in the market.
Ole Hansen, Head of Commodity Strategy at Saxo Bank, said that many factors are driving gold prices higher, predicting that these dynamics could continue to support the precious metal's price in the second half of 2025.
Source: https://baolangson.vn/gia-vang-hom-nay-11-7-tiep-tuc-tang-5052859.html
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