The world 's gold price today "evaporated" dozens of USD/ounce in just a short time.
At around 6:00 a.m. on April 24, the spot gold price on the world market recorded 3,310 USD/ounce, a sharp decrease of 40 USD compared to the peak of 3,350 USD/ounce in last night's trading session.
Gold prices today were influenced by positive signals in US-China trade relations. US President Donald Trump made softer statements, easing market concerns when he announced that he would reduce tariffs on imports from China.
US Treasury Secretary Scott Bessent reinforced this message at the International Monetary Fund (IMF) and World Bank meetings, highlighting the opportunity for a trade deal with China.
According to the Wall Street Journal, a White House official revealed that the US administration is considering reducing tariffs on Chinese goods to 50-65%.
In this context, investors are concerned that gold prices will continue to be unfavorable, leading to a wave of profit-taking. As a result, the world gold price "evaporated" tens of USD/ounce in a short time.
On the other hand, the strong recovery of the US stock market also contributed to the downward pressure on gold prices.
The Dow Jones indexes rose 419 points, the Nasdaq rose 407 points and the S&P 500 rose 88 points. This growth attracted capital flows from gold to stocks, causing gold prices to plummet further today.
In the domestic market, as of the end of April 23, the price of SJC gold dropped sharply to 119.5 million VND/tael, while the price of gold rings also dropped to 115 million VND/tael.
Source: https://nld.com.vn/gia-vang-hom-nay-24-4-tiep-tuc-sut-giam-manh-196250424063246443.htm
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