Cautious sentiment weakens Asian gold prices

Illustration photo. Photo: Internet

Gold prices have surged this April, outperforming other assets as the trade war sparked by US tariffs has disrupted the global economic order and prompted investors to seek gold as a safe haven. Last week, gold hit a new record high, but the precious metal has since fallen more than 5% from its peak as trade tensions show signs of easing.

Barclays Plc strategists said the current rally in gold prices is outpacing the underlying fundamentals supporting the precious metal. In a report released last week, they noted that recent monthly gold purchases are not unusual given the long-standing trend of central banks accumulating gold.

The sharp rise in gold prices has sparked a wave of speculation, especially after President Donald Trump’s tariff announcements. However, the recent decline in gold prices, along with related factors, has prompted experts to advise investors to be cautious in the short term. Barclays expert Stefano Pascale believes that gold prices will correct lower because they are “out of sync” with fundamentals such as the US dollar and real interest rates.

In Vietnam, early morning of April 28, Saigon Jewelry Company listed the buying and selling prices of SJC gold bars at around 119 - 121 million VND/tael.

Cao Thong

Source: https://doanhnghiepvn.vn/kinh-te/tam-ly-de-dat-khien-gia-vang-chau-a-suy-yeu/20250428085615710