The domestic gold price today, October 4, is being traded at the following level:
Opening this morning's trading session, the gold price at 9:00 a.m. was listed by SJC Hanoi at 41.75 million VND/tael (up 200,000 VND/tael for buying) and 42.07 million VND/tael (up 200,000 VND/tael for selling) compared to yesterday morning's session.
Doji Hanoi Jewelry was listed at 41.80 million VND/tael (up 150,000 VND for buying) and 42.20 million VND/tael (up 50,000 VND for selling) compared to the session yesterday morning.
Ho Chi Minh City SJC listed at 41.75 million VND/tael (up 200,000 VND/tael for buying) and 42.05 million VND/tael (up 200,000 VND for selling) compared to the morning session on October 3.
The world gold price today, October 4, immediately traded at 1,508.70 USD/ khoz, up 7.42 USD/ khoz for buying and 1,509.06 USD/ khoz, up 7.4 USD/ khoz for selling compared to the morning session on October 3.
The gold price soars, said to be because the Trump administration plans to impose high tariffs on about $7.5 billion in European goods from October 18 (according to Reuters).
Specifically, a 10% tax rate will be imposed on airplanes and a 25% on many other products, including Irish wine and Scotch wine, cheese and hand-held products... after the United States was given a green light by the World Trade Organization (WTO).
This is considered the strongest trade move against the EU since the US imposed high tariffs on European steel and aluminum in 2018.
Immediately after the decision, the Airbus aircraft manufacturer called on Washington and Brussels to avoid tax measures that could potentially harm the aviation industry, US-EU trade and have a negative impact on the global economy.
Gold's increase could also be due to the cooling of the USD. Negative economic information has made investors expect the US Federal Reserve (Fed) to further loosen monetary policy in 2019, thereby pushing the USD down and gold prices up.
