Gold prices have stalled amid the Trump administration’s tough stance on trade tariffs. Trump recently sent a notice to US trading partners, threatening to impose import tariffs mainly in the range of 20% to 30%.
The European Union (EU) received the warning late last week, with reports that it was considering tariffs of up to 30% on goods imported from the bloc. Two important US trading partners in North America, Mexico and Canada, also face the risk of tariffs of 30% and 35%, respectively.
In addition, Mr. Trump has imposed a 50% tariff on copper, threatened a 200% tariff on pharmaceuticals, and imposed a 50% tariff on Brazil.
While gold prices have recently shown signs of slowing, a weaker US dollar could be enough to fuel further gains, while silver is benefiting from record-breaking semiconductor demand and platinum is seeing a surge in jewelry production, according to precious metals analysts at Heraeus.
Gold price movements today
+ Domestic gold price
At 6:00 a.m. on July 15, the price of gold bars at Doji and SJC was listed at 119.5 - 121.5 million VND/tael (buy - sell), unchanged from early this morning.
Meanwhile, the price of gold rings is currently listed by Doji at 116 - 119 million VND/tael (buy - sell), unchanged from early this morning.
+ International gold price
The world gold price listed on Kitco is at 3,343 USD/ounce, down 25 USD/ounce compared to late yesterday afternoon. Gold futures last traded at 3,345 USD/ounce.
Gold Price Forecast
In their latest precious metals update, analysts at Heraeus wrote that recent weaker forecasts for the US dollar could help restart the gold rally.
Even if gold prices stall below the April high of $3,500 an ounce, the precious metal still has support at $3,240, said analysts at Heraeus. If the dollar weakens as expected and investment demand for the precious metal remains strong, gold prices could continue to rise after this consolidation. However, if gold prices fall below support, any further gains could be delayed until later this year.
Meanwhile, Joe Cavatoni, chief market strategist for North America at the World Gold Council, said that gold's continued stability around $3,300 an ounce shows that the market is still waiting for clarity on interest rates and trade, and the US President's sudden announcement of a 50% tariff on imported copper last week is a reminder that investors cannot be sure that the same will not happen to gold.
Source: https://baolangson.vn/gia-vang-hom-nay-15-7-di-xuong-bat-chap-dong-usd-suy-yeu-5053211.html
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