World gold prices fall after US President Donald Trump's announcement of tax exemption on gold bullion

DNVN - In the first trading session of the week on August 11, the world gold price decreased when US President Donald Trump announced that he would not impose import tax on gold bullion, while investors turned their attention to the US inflation report - a factor that could reveal the interest rate orientation of the US Federal Reserve (Fed).

Illustration photo. Photo: Internet

On the afternoon of August 11, the price of gold for delivery in December 2025 fell 2.5% to close at $3,404.70/ounce, while the spot price of gold fell 1.2% to $3,358.33/ounce. Previously, the price of gold set a record in the last session of the week, after information appeared that the US could impose import taxes on each country on the most popular gold bar in this market.

Trump's statement posted on the social network TruthSocial on August 11 affirmed that gold would not be subject to tariffs, but did not include any details.

“The market may be less bearish now that the uncertainty has been removed,” said Jim Wyckoff, senior analyst at Kitco Metals. “Traders will now turn their attention to other factors, and this could have a positive impact on gold prices, given the prospect of an early US rate cut.”

According to the plan, the US will announce the consumer price index (CPI) on August 12 (local time) and the producer price index (PPI) on August 14. In case the inflation data exceeds the forecast, the Fed may delay the interest rate cut in September 2025 - a factor that could put downward pressure on gold prices.

A weaker-than-expected jobs report recently reinforced investors’ expectations that the Fed will cut interest rates in September. In addition, Mr. Trump is also scheduled to meet with Russian President Vladimir Putin in Alaska on August 15 to discuss a solution to the conflict in Ukraine.

In times of economic uncertainty or when interest rates are low, gold prices tend to rise.

On the same day, spot silver price fell 1.4% to $37.78/ounce, platinum price fell 0.4% to $1,326.09/ounce, while palladium price increased 2.1% to $1,149.25/ounce.

In Vietnam, on the morning of August 12, Saigon Jewelry Company listed the price of SJC gold bars at 122.70-123.90 million VND/tael (buy - sell).

Hung Linh

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-the-gioi-sut-giam-sau-tuyen-bo-mien-thue-vang-thoi-cua-tong-thong-my-donald-trump/20250812080544754