Gold price today, July 10: Strong increase again

(NLDO) – Gold prices today recovered strongly after a deep decline, boosted by increased demand for safe havens.

World gold price today increased sharply

Gold prices skyrocket

As of 6:00 a.m. on July 10, the world gold price today reached 3,320 USD/ounce, up 45 USD compared to the lowest level last night (3,285 USD/ounce).

This impressive recovery reflects investor sentiment returning to gold as a safe-haven asset, especially as geopolitical risks escalate and markets expect the US Federal Reserve (Fed) to cut interest rates soon.

According to the latest report from the World Gold Council (WGC), global gold-backed exchange-traded funds (ETFs) recorded strong inflows in June, reaching 74.6 tonnes,

Geopolitical instability increases

The main reason pointed out by the WGC is that geopolitical instability, especially from the Israel-Iran conflict, has prompted investors to seek gold as a safe haven asset. In addition, signals from the Fed about the possibility of cutting interest rates also contributed to increasing the attractiveness of gold prices today.

Although the Fed kept interest rates unchanged at its June meeting, analysts said the organization is concerned about slowing economic growth and rising inflation pressures.

According to the WGC, the market is now expecting the Fed to make three rate cuts by the end of 2025, with two more cuts in 2026. These forecasts have stimulated investment demand for the precious metal.

Previously, in Vietnam, by the end of July 9, the price of SJC gold was listed at 120.6 million VND/tael for sale, while the price of gold rings was at 116.5 million VND/tael.

Source: https://nld.com.vn/gia-vang-hom-nay-10-7-tang-manh-tro-lai-196250710062938194.htm