Gold price today, July 12: Very strong increase

(NLDO) – Gold prices today heated up in the context of increasing US-Russia disagreements, US stocks hit the floor…

World gold price today heats up

Early on July 12, the price of gold today closed the weekend at 3,356 USD/ounce, a sharp increase of 37 USD compared to the lowest level in last night's trading session of 3,319 USD/ounce.

The surge in gold prices today comes amid escalating geopolitical and global trade tensions. Specifically, tensions between the US and Russia continue to rise, raising concerns about economic and security instability.

On the other hand, the administration of US President Donald Trump announced plans to impose new trade tariffs, including a 35% tax on imports from Canada and plans to impose 15-20% tariffs on other trading partners.

These moves caused the international stock market to fluctuate, with Asian and European stock indexes moving in opposite directions, while US stocks fell. Since then, many stock investors have poured money into gold. The price of gold today is inevitably hot.

In addition to geopolitical factors and US tariffs, some macroeconomic developments also contributed to boosting gold prices. The USD-Index increased slightly but not enough to curb the increase in gold, as the defensive sentiment in the market caused a strong increase in gold demand.

Crude oil futures were steady at $67.25 a barrel, while the yield on 10-year US Treasury bonds rose to nearly 4.4%, reflecting growing concerns about US debt.

Even without a real fiscal crisis, concerns about the US budget deficit have boosted demand for gold as a safe-haven asset, according to the World Gold Council (WGC).

In the Vietnamese market, by the end of July 11, the price of SJC gold was listed at 121 million VND/tael for sale, while the price of gold rings was at 117 million VND/tael.

Source: https://nld.com.vn/gia-vang-hom-nay-12-7-tang-rat-manh-196250712061924964.htm