Gold price today, March 22: Suddenly falling down

Giá vàng hôm nay, 22-3: Lao xuống rồi bất ngờ đi lên- Ảnh 1. — World gold price today closed the weekend at 3,024 USD

Last night, the world gold price "evaporated" tens of USD/ounce and fell to 2,996 USD/ounce. However, immediately after that, a sudden increase in purchasing power helped the gold price go up.

By early March 22, the price of gold today closed the weekend at 3,024 USD, but still decreased by 25 USD compared to the previous day's opening price of 3,045 USD/ounce.

World gold prices fluctuated strongly when US President Donald Trump said there would be flexibility in the plan to impose tariffs on many other countries.

Meanwhile, the European Union (EU) announced that it will adjust the timing of retaliatory tariffs against the US. Specifically, both EU retaliatory tariffs will take effect on April 13.

Previously on March 12, right after US President Donald Trump's tariffs on imported aluminum and steel took effect, the EU announced that it would retaliate by increasing tariffs on US goods from April 1 and then introduce another tariff package on April 13.

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Analysts say gold remains an attractive safe haven asset as President Donald Trump pushes for "America First" policies and imposes global import tariffs in early April 2025.

However, some analysts also note that at some point, when the geopolitical situation and global trade tensions cool down, the demand for holding gold will decrease.

In Vietnam, the price of SJC gold at the end of March 21st dropped sharply to 97.7 million VND/tael. The price of gold rings was sold by traders at 97.3 million VND/tael.