In the early afternoon of April 15 (Vietnam time), world gold prices were listed around the threshold of 4,814.2 USD/ounce, wiping out the decrease of the previous session and consolidating the upward trend of precious metals.
This development attracts attention not only because of the large increase range, but also because of the characteristic of stable price increase, without strong sudden fluctuations during the session. This shows that buying power is more sustainable, reflecting changes in market sentiment instead of just short-term selling status closing activity.
According to Kitco, the main driving force pushing gold prices up is the increasingly clear perception that the US is prioritizing economic pressure measures in the Strait of Hormuz, instead of choosing a direct military attack scenario against Iran.
The market believes that if tensions are resolved through economic and maritime control tools, the possibility of conflict spreading can be limited compared to direct military options. This expectation has significantly affected the psychology of investors in the commodity market.
The Strait of Hormuz plays a particularly important role in the region's oil exports. Any developments related to this shipping route could directly affect global energy supplies, while triggering a sharp shift in investment sentiment towards safe-haven assets such as gold and silver.
Along with gold, silver prices also increased sharply. Silver futures contracts increased by 3.88 USD, equivalent to 5.13%, to near the 80 USD/ounce mark. This is also the highest level in 18 days for silver, showing that the upward trend is spreading across the entire group of precious metals.
Notably, the growth rate of silver also surpasses gold in percentage terms. In many stages of the precious metal price increase cycle, silver usually has a stronger increase than gold when speculative and investment cash flow returns to the market.
In addition to its role as a safe haven asset, silver is also widely used in industrial production. Therefore, this metal often benefits not only from geopolitical instability but also from expectations of economic activity recovery and global production needs.
Technically, gold closing above the 4,870 USD/ounce zone is making the 4,900 USD mark the nearest resistance level that the market is monitoring. If the upward trend continues, gold prices may head towards the psychological milestone of 5,000 USD/ounce.
Meanwhile, silver is approaching the threshold of 80 USD/ounce. If it surpasses this mark convincingly, silver prices may open up new room for increase in the following sessions.
Investors are currently waiting for the developments of the next trading session to confirm whether the strong upward momentum of gold and silver will continue to be maintained, in the context that geopolitical factors and risk prevention sentiment are still significantly dominating the international financial market.
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