World gold price has the third consecutive decrease

Despite falling for three consecutive sessions and falling significantly from its peak of $3,500/ounce more than a week ago, gold is still one of the most profitable asset storage channels in the first 100 days of President Trump's "stormy" term.

The world gold price has decreased for the third consecutive session and once again "broke through" the 3,300 USD/ounce mark. Currently, the spot gold price is trading at 3,284 USD/ounce, down 33 USD/ounce (-0.98%) compared to the previous day. The price of gold futures for delivery in 2024 on the Comex New York floor also decreased by 1.15%, to 3,294 USD/ounce.

This was the third consecutive decline in world gold prices as concerns about the impact of US tariffs temporarily eased. Recently, US President Donald Trump signed two executive orders to reduce the burden of 25% tariffs on imported cars and auto parts just under a month after the tax policy was activated. These moves could help ease concerns about the expansion of the trade conflict. US Secretary of Commerce Howard Lutnick also said that there had been progress in trade negotiations with an unnamed country.

However, analysts still assess that long-term risks have not cooled down, especially with US-China tensions and growth prospects in the US. Investors are waiting for important economic data to be released today, including the March PCE index - the US Federal Reserve's preferred inflation measure - and a preliminary estimate of GDP for the first quarter of 2025. These data are expected to reshape expectations about the Fed's interest rate policy in the coming months.

Earlier, data showed the US goods trade deficit soared to a record $162 billion in March, far exceeding forecasts, due to a sharp increase in imports. It is possible that businesses were stockpiling ahead of the April 2 announcement of the reciprocal tariff decree. The US Dollar Index (DXY) was flat around 99.2 points.

World gold price developments in the past 9 months.

Despite the recent correction, gold prices are expected to continue their fourth consecutive month of gains, with an increase of about 6% in April. The main driver of gold's increase last month was also the prolonged uncertainty in global trade policy, especially the tariff confrontation between the US and China and concerns about the US economic growth outlook, in the context of slowing production and consumption indicators. At the same time, the amount of money flowing into gold ETFs also increased, in addition to the central banks of many countries stepping up gold purchases for reserves.

The trading session on April 30 will also mark the first 100 days of President Trump's second term. With a series of unpredictable and impactful decisions on many aspects of the world, gold, as a safe haven, has recorded an increase of more than 20%. According to calculations from S&I Ratings, at the current level of $3,300/ounce, gold has surpassed the S&P 500 to become one of the most profitable asset storage channels since the beginning of 2023.

Source: https://baodautu.vn/gia-vang-the-gioi-co-phien-giam-thu-ba-lien-tiep-d275271.html