The domestic gold price this morning was listed by Doji Hanoi at: 36.91 million VND/tael (up 290,000 VND for buying) and 37.10 million VND/tael (up 380,000 VND for selling) compared to the previous session.
Bao Tin Minh Chau Jewelry Company listed the price at: 36.65 million VND/tael (up 280,000 VND for buying) and 36.73 million VND/tael (up 260,000 VND for selling).
World gold prices in the US session last night increased by nearly 20 USD, to 1,324 USD per ounce. Prices have reached a time close to $1,326, their highest since late February.
World gold prices skyrocketed due to a sharp decline in the USD in the context of US President Donald Trump's new decisions and the possibility of the US may soon change monetary policy.
In addition, many experts believe that gold increased sharply after Mr. Donald Trump announced that he would increase tariffs on all imports from Mexico. Investors are also quickly looking for gold as a storm shelter.
Accordingly, Mr. Donald Trump threatened to impose a 5% tax on all Mexicoese goods imported into the US from June 10, then the import tax will increase to 10% on July 1, to 15% on August 1, 20% on September 1 and 25% on October 1 if Mexico fails to prevent illegal immigration to the US.
Meanwhile, Mexico's Foreign Minister Marcelo Ebrard said the US threat to impose tariffs on the country would cause serious damage, and would not be able to stop illegal immigration to the US across the border with Mexico.
Bob Haberkorn - senior market strategist at RJO Futures commented: "Investors are still worried about a trade war, both taxes on Mexico and on China. The wave of buying safe-haven gold is skyrocketing."
