World gold prices continue to rise after the US announced reciprocal tariffs

Photo caption — Gold bars are displayed for sale at a trading floor in Seoul, South Korea. Photo: Yonhap/TTXVN

At 1:53 a.m. on April 3, Vietnam time, spot gold prices increased by 0.6% to $3,129.46/ounce. Gold futures prices also increased by 0.6%, closing at $3,166.20/ounce.

Tai Wong, an independent metals trader, said the reciprocal tariffs were announced more aggressively than expected, which could lead to a sell-off in assets and a weakening of the US dollar. He said the outlook for gold was positive at the moment. However, there were still many unclear issues and the possibility of negotiations between the parties, which could make the market volatile in the coming time.

Earlier, President Trump announced that he would impose a basic 10% tariff on all imports into the US and higher tariffs on some of the country's largest trading partners, a move that escalated the trade tensions he initiated upon returning to the White House.

Gold, often seen as a safe haven during times of political and financial uncertainty, has gained more than $500 since the start of 2025 and hit a record high of $3,148.88 an ounce on April 1.

Peter Grant, Vice President and Senior Metals Strategist at Zaner Metals, said that if gold breaks through the resistance level of $3,147.41 - $3,149.84 per ounce, it could move towards $3,200 per ounce, reinforcing the bullish view that gold will reach $3,300 per ounce and even $3,500 per ounce.

The dollar index, which measures the greenback against a basket of major currencies, fell 0.4% after Trump’s tariff announcement, making gold cheaper for buyers holding other currencies.

Meanwhile, the ADP National Employment Report released on April 2 showed that US private sector job growth accelerated in March. The most important jobs data this week will be released on April 4.

In the market of other precious metals, spot silver price increased 0.7% to 33.99 USD/ounce, platinum price also increased 0.7% to 986.18 USD/ounce.

In Vietnam, late afternoon on April 2, DOJI Gold and Gemstone Group and Saigon Jewelry Company listed gold bar prices at 99.1 - 101.8 million VND/tael (buy - sell), down 300,000 VND/tael in both buying and selling compared to the previous day's closing price.

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-the-gioi-tiep-da-tang-sau-khi-my-cong-bo-thue-quan-doi-ung/20250403071258018