World gold price on April 22: Set new peaks consecutively, officially surpassing the 3,400 USD/ounce mark

Illustration photo. Photo: Internet

The escalation in trade tensions between the US and China has raised concerns about economic growth, causing investors to seek gold as a safe haven.

As of 00:46 (Vietnam time), the spot gold price increased sharply by 2.7%, reaching 3,417.62 USD/ounce. Not long before, the price of this precious metal had reached a record 3,430.18 USD/ounce in the session. Meanwhile, the US gold futures contract closed the session with an increase of 2.9%, up to 3,425.30 USD/ounce.

The greenback fell to a three-year low as investor confidence in the U.S. economic outlook was dented, in part by President Donald Trump’s criticism of Federal Reserve Chairman Jerome Powell. The dollar’s ​​weakness makes gold more attractive to holders of other currencies.

In the trade war, China has condemned the United States for abusing tariff policies and warned other countries not to sign sweeping economic agreements with the United States if it harms Beijing's interests.

“As the tariff tensions continue to escalate, we see gold prices continuing to move higher as a safe-haven reaction,” said David Meger, head of research at High Ridge Futures. “There will be periods of correction and profit-taking, but we continue to believe the underlying trend is sideways and higher.”

Precious metals are considered an effective hedge against economic instability and a highly liquid asset. Since the beginning of 2025, gold has set new records many times, with a total increase of more than 700 USD/ounce.

Last week, gold prices broke through the $3,300/ounce mark, and just a few days later, the rally continued to push prices up another $100.

Kitco Metals senior analyst Jim Wyckoff commented that the current volatile trading sessions suggest that the possibility that gold's prolonged rally may be approaching its final stages, in terms of time rather than peak price.

In the Vietnamese market, at 06:07 am on April 22, Saigon Jewelry Company listed the price of SJC gold in Hanoi at 116.00 - 118.00 million VND/tael (buy - sell).

Cao Thong

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-the-gioi-ngay-22-4-lap-dinh-moi-lien-tiep-chinh-thuc-vuot-moc-3-400-usd-ounce/20250422081310260