Gold price today April 9: Sharp increase then sudden plunge

Last night, the world gold price jumped tens of USD/ounce at times but then fell sharply.

Last night, US Customs and Border Protection announced that it had begun collecting new tariffs on 86 trading partners.

Markets were further shaken after a White House official confirmed that the US would impose very high additional tariffs on imports from China. Former US Commerce Secretary Carlos Gutierrez said that the US and China were entering a full-blown trade war.

In another development, China continues to devalue the Yuan against the USD to create an export advantage.

In response to the above information, the US stock market plummeted, with red covering Wall Street due to a wave of stock sell-offs. Capital flows from the stock market shifted strongly to precious metals, while gold speculators also increased their purchases, pushing the world gold price up by tens of USD/ounce at times.

However, when the gold price reached 3,020 USD/ounce, many investors took advantage of the opportunity to take profits and sell massively.

As a result, the world gold price fell sharply, losing 38 USD in a short time, down to 2,982 USD/ounce at 6:00 a.m. on April 9.

Previously, in Vietnam, on April 8, the listed selling price of SJC gold was 101.2 million VND/tael, while the selling price of gold rings was 100.1 million VND/tael.

According to Thy Tho (NLDO/photo: Tan Thanh; graphics: Ngoc Trinh)

Source: https://baogialai.com.vn/gia-vang-hom-nay-9-4-tang-manh-roi-bat-ngo-lao-doc-post318191.html