Gold price today, July 22: World price increases sharply, reaching peak in the past 4 weeks

(NLDO) – Gold prices today, July 22, continued to heat up on the world market as the USD weakened and US Treasury bond yields fell.

Gold price skyrocketed today

As of 6:00 a.m. on July 22 (Vietnam time), the spot gold price on the world market reached 3,400 USD/ounce, a sharp increase of 50 USD compared to the lowest level in the trading session last night (3,350 USD/ounce). The price of gold for August delivery also recorded an impressive increase of 56 USD, reaching 3,415 USD/ounce, marking the highest level in the past 4 weeks.

The decline in the US dollar has been one of the main factors driving the sharp rise in gold prices. The US dollar index, which had risen significantly last week, has lost momentum and dropped sharply in overnight trading. At the same time, the yield on the 10-year US Treasury note is now around 4.3%, down from recent highs, increasing the appeal of non-interest-bearing gold.

Market sentiment is also being supported by macroeconomic factors. Crude oil futures edged lower, trading around $67 a barrel, reflecting investor caution amid global economic volatility. These factors combined to create a favorable environment for gold prices to surge.

Analysts say that if the US dollar continues to weaken and US bond yields remain low, gold prices could continue to rise. However, investors need to be cautious about fluctuations in the US Federal Reserve's monetary policy and upcoming economic data, such as inflation and GDP growth reports, which could affect the trend of gold prices.

Source: https://nld.com.vn/gia-vang-hom-nay-22-7-tang-manh-cham-dinh-trong-4-tuan-qua-196250722062631594.htm