Gold price today increased very strongly
At 6:00 a.m. on June 3, the spot gold price on the international market reached 3,390 USD/ounce, a sharp increase of 80 USD compared to the lowest level in the trading session last night (3,310 USD/ounce). Meanwhile, the price of gold for August delivery increased by 86.3 USD, reaching 3,401 USD/ounce.
The main reason for the surge in gold prices is the increased demand for safe havens by investors, triggered by the US-China trade tensions. Over the weekend, US President Donald Trump accused China of violating the trade agreement and announced increased tariffs on steel and aluminum imports from this country, increasing instability in global financial markets.
Other factors also supported the rise in gold prices today. The US dollar index fell sharply, while crude oil futures jumped, trading around $62.75 a barrel. The yield on the 10-year US Treasury bond is currently at 4.45%, reflecting growing concerns about the US national debt.
JP Morgan CEO Jamie Dimon warned at an economic forum that the bond market risks "cracking up" if the US fails to get its ballooning national debt under control.
Given the current economic and geopolitical context, gold prices are expected to continue to fluctuate strongly in the coming trading sessions, as investors seek safe assets to preserve capital.
In Vietnam, at the end of June 2, the price of SJC gold was listed at 117.8 million VND/tael (selling price), while the price of gold rings reached 113.7 million VND/tael.
Source: https://nld.com.vn/gia-vang-hom-nay-3-6-tang-vot-giua-cang-thang-thuong-mai-196250603062722722.htm
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