Gold price is hot again today
At the end of the weekend trading session, the spot gold price on the world market recorded 3,369 USD/ounce, up 30 USD compared to the lowest level last night (3,339 USD/ounce). This increase was driven by increased risk aversion in the market, as investors sought gold as a safe haven asset.
The main reason for the sharp increase in gold prices today is complicated geopolitical developments, especially the conflict between Israel and Iran.
Israeli Prime Minister Benjamin Netanyahu has ordered the country's military to attack strategic targets in Iran, according to sources. In this context, President Trump is considering the possibility of the US directly participating in an attack on Iran, with a final decision likely to be made in the next two weeks.
In addition to geopolitical factors, gold prices are also affected by the monetary policy of the US Federal Reserve (Fed). Fed Chairman Jerome Powell emphasized in his speech on June 18 that the central bank will not rush to cut interest rates but will continue to depend on economic data.
Responding to the Fed's stance, President Trump harshly criticized Mr. Powell, saying that delaying interest rate cuts is causing "hundreds of billions of dollars" in damage to the US economy.
Meanwhile, crude oil futures also rose sharply, trading around $76 a barrel, reflecting supply concerns amid Middle East tensions. The US dollar index (DXY) weakened again, creating favorable conditions for gold prices to rise.
With the current geopolitical and economic uncertainties, experts predict that gold prices may continue to increase in the short term. Gold is still considered a safe investment channel in the context of Israel-Iran tensions showing no signs of cooling down and US economic policies continuing to cause controversy.
In Vietnam, as of the end of June 20, SJC gold price was listed at 119.4 million VND/tael (selling), while the gold price was at 116 million VND/tael.
Source: https://nld.com.vn/gia-vang-hom-nay-21-6-tang-manh-tro-lai-196250621043016801.htm
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