World gold price continues to set record, US and European stocks fall sharply

giá vàng - Ảnh 1. — Gold prices have increased about 30% since the beginning of the year - Photo: REUTERS

On April 22, world investors continued to flock to gold to shelter from economic fluctuations that caused the USD to weaken and stocks to plummet.

According to AFP, gold surpassed the $3,500/ounce mark for the first time before falling back to $3,467/ounce. This is a new record in the terrible price increase from $2,623/ounce at the beginning of this year.

According to analysts, the US tariff war has not yet ended and tensions between US President Donald Trump and Federal Reserve Chairman Jerome Powell have further confused investors.

"The market is now waiting for real progress on trade deals. The president's posts on Truth Social or X are no longer effective. Investors want black and white, not just words...

This lack of certainty is driving investors to traditional safe-haven assets, with gold and the Japanese yen both benefiting from the volatility,” said Matt Britzman, senior equity analyst at Hargreaves Lansdown.

On April 21, Mr. Trump continued to criticize Mr. Powell as a "loser" and urged the Fed to quickly cut interest rates. This statement further increased concerns that the US leader could fire the Fed chairman.

It also triggered a wave of panic selling on Wall Street, with major stock indexes all down about 2.5% by the end of the day, according to AFP.

European markets were also in the red, with Germany's DAX index down 0.4%, France's CAC index down 0.6%, and Italy's FTSE MIB down 1.1%.

In Asia, markets in Tokyo, Seoul, Taipei and Bangkok fell, while Hong Kong, Shanghai, Singapore, Manila, Mumbai and Jakarta rose.

Meanwhile, the US dollar also fell to its lowest level since 2022 as traders flocked to the yen, euro and Swiss franc.

"The dollar is sliding not just because of weak liquidity and weak data, but also because of confidence. The market is starting to question one of the fundamental assumptions behind the dollar's reserve currency status: an independent, anti-inflation Fed," said Stephen Innes of SPI Asset Management.

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Source: https://tuoitre.vn/gia-vang-the-gioi-tiep-tuc-lap-ky-luc-chung-khoan-my-chau-au-sap-manh-202504221602213.htm