Unexpected sharp reversal

(NLDO) - After a deep decline, gold prices today increased as the world turned its attention to Donald Trump's inauguration as US President.

The world gold price today is up to 2,708 USD/ounce.

The euro and sterling rose against the dollar, putting the two currencies on track for their biggest one-day gains against the greenback in more than a year, as reports emerged that new President Donald Trump would not impose tariffs on US trading partners on his first day in office.

On the other hand, analysts believe that the import tariffs that Mr. Donald Trump plans to impose are being exaggerated. Accordingly, the USD may continue to depreciate in the coming time, which is beneficial for the gold market.

As the dollar depreciates, gold becomes more attractive to holders of other currencies. Meanwhile, traders expect gold prices to rise even further in the future.

Therefore, in the trading session last night - when the gold price fell to 2,682 USD/ounce, many people increased their purchasing power. Immediately, the world gold price today increased sharply and by 6:00 on January 21, it reached 2,708 USD/ounce.

Previously, in Vietnam, the price of SJC gold at the end of January 20 was sold by banks at 86.9 million VND/tael. SJC Company sold gold rings at 86.3 million VND/tael.

Source: https://nld.com.vn/gia-vang-hom-nay-21-1-bat-ngo-dao-chieu-tang-manh-196250121043904853.htm