Gold price today, April 5: Sharp drop

(NLDO) – Gold prices today, April 5, "evaporated" violently as investors increasingly increased selling pressure to gain profits.

World gold price sometimes decreased by more than 100 USD/ounce

Last night, the world gold price reached 3,140 USD/ounce. Immediately, many investors sold aggressively to take profits. After only a few minutes of trading, the world gold price dropped more than 100 USD/ounce. By early April 5, the gold price today closed the weekend trading session at 3,040 USD/ounce.

Although the price of gold today has dropped sharply, analysts believe that this precious metal may suddenly reverse due to the high demand for holding as a hedge, in the context of many countries retaliating against tariffs on US goods. Especially when China has just announced a new tariff of 34% on all goods imported from the US.

Naeem Aslam - Chief Investment Officer at Zaye Capital Markets - commented that trade war, inflation concerns, geopolitical risks and central bank policies are factors supporting gold prices.

Previously, in Vietnam, at the end of April 4, the selling price of SJC gold was 101.3 million VND/tael, while the selling price of gold rings was 101.2 million VND/tael.

Source: https://nld.com.vn/gia-vang-hom-nay-5-4-sut-giam-rat-manh-196250405063401778.htm