Gold price today April 9: Investors sell off, gold continues to plummet

Saigon Jewelry Company (SJC) reduced the buying price of SJC gold bars by VND300,000 to VND97.4 million, while the selling price decreased by VND600,000 to VND99.6 million.

Similarly, Phu Quy Company also reduced the buying price of SJC gold bars to 97.4 million VND and the selling price to 99.6 million VND. The difference between the buying and selling price of gold narrowed to 2.2 million VND/tael.

The price of gold rings also decreased by 300,000 - 400,000 VND per tael. SJC Company bought for 97.3 million VND and sold for 99.6 million VND. Phu Quy Company bought for 97.4 million VND and sold for 99.8 million VND... The domestic gold price once again lost the price of 100 million VND/tael. The rate of decrease in domestic gold price is slower than the world price , leading to the "expensive" price of 5.5 million VND/tael.

SJC gold bar price continues to decrease

The world gold price continued to decrease by another 6 USD per ounce, down to 2,979 USD. In the US trading session (late April 8), the gold price dropped sharply from 3,020 USD/ounce to 2,968 USD and then rose back to 2,984 USD/ounce before closing.

Overnight, the precious metal continued to lose $50, bringing the total price drop since reaching a record to nearly $200, equivalent to a 6.3% loss compared to early April.

Gold prices fell sharply after the US announced a 104% tariff on China starting at 12:01 a.m. ET on Wednesday. China, which had the largest trade surplus with the US in 2024 at $295 billion, initially faced a 34% tariff on its exports to the US.

In response, China imposed a 34% tariff on US goods. Last week, President Donald Trump released a list of tariffs on countries importing into the US. The new tariff structure creates a complex web of different tariffs depending on the country.

Gold investors reacted when the new trade barriers came into effect at midnight. Geopolitical tensions and economic uncertainty have traditionally supported gold as a safe-haven asset, but the immediate market reaction is often unpredictable amid complex global economic dynamics. Investors sold gold. The world's largest gold-backed exchange-traded fund, SPDR Gold Trust, sold 0.86 tonnes of gold, bringing its holdings down to 925.92 tonnes. This was the third consecutive day that the fund sold gold, with a total of 10.32 tonnes./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-942025-nha-dau-tu-ban-thao-vang-tiep-tuc-lao-doc-185250409084302768.htm

Source: https://baolongan.vn/gia-vang-hom-nay-09-4-nha-dau-tu-ban-thao-vang-tiep-tuc-lao-doc-a193167.html