Gold price today, July 1: Continues to skyrocket

(NLDO) - Gold prices today increased again thanks to strong buying power from investors when the price of this precious metal hit a 5-week low.

Gold price goes up today

At 6:00 a.m. on July 1, the world gold price reached 3,312 USD/ounce, a sharp increase of 37 USD compared to the lowest level in last night's trading session of 3,275 USD/ounce.

The driving force for gold's price increase came from "bargain hunting" investors, who quickly bought when the price of this precious metal hit a 5-week low last night.

However, gold's rally was capped by risk-on sentiment in the market, with US stock indexes such as the Nasdaq and S&P 500 continuing to hit records.

Investors' risk appetite is boosting the stock market, but an article in Barrons warns that tariffs and inflationary pressures from the Trump administration could slow the stock market's rise in the near term.

In addition, news that the US cut off trade negotiations with Canada last weekend also contributed to fluctuations in the gold market.

Other markets recorded the value of the USD hitting its lowest level in the past 3.5 years, the interest rate on 10-year US Treasury bonds is currently at 4.25%... These factors also have a certain impact on the gold price trend.

In Vietnam, by the end of June 30, the listed price of SJC gold was 119.5 million VND/tael for sale, while the price of gold rings was 116 million VND/tael.

Source: https://nld.com.vn/gia-vang-hom-nay-1-7-tiep-tuc-tang-manh-196250701061549522.htm