Gold price today, July 2: The increase has not stopped

(NLDO) – Gold prices continued to rise today as the USD weakened and US bond yields fell, creating favorable conditions for this precious metal.

Gold price continues to heat up today

As of 6 a.m. on July 2, the spot gold price on the world market reached 3,343 USD/ounce, up 23 USD compared to the lowest level in last night's trading session of 3,320 USD/ounce. The gold futures price for August also recorded an impressive increase, reaching 3,353 USD/ounce, up 45.5 USD compared to the previous session.

The rise in gold prices today was driven by the US dollar falling to a 3.5-year low, making gold a more attractive investment. US bond yields fell to 4.2%, creating conditions for the US Federal Reserve (Fed) to consider cutting interest rates in the future.

In addition, gold hunting activities at low prices were also recorded, contributing to the increase in the price of this precious metal.

Investors are focusing on the US Department of Labor's June employment report, scheduled to be released on July 3, a day earlier due to the US Independence Day holiday on July 4. This data could have a major impact on the Fed's monetary policy and the trend of world gold prices in the coming time.

In Vietnam, by the end of July 1, the price of SJC gold was listed at 120.7 million VND/tael for sale, while the price of gold rings was at 116.8 million VND/tael.

Source: https://nld.com.vn/gia-vang-hom-nay-2-7-da-tang-chua-dung-lai-196250702061147669.htm