Asian gold price in the afternoon session of April 18 rose to the highest level since mid-March 2022
Spot gold rose 0.8 percent to $1,989.65 an ounce at 2:23 p.m. Vietnam time, touching its highest level since March 11. U.S. gold futures also rose 0.9 percent to $1,993.40 per ounce.
Ilya Spivak, currency strategist at DailyFX (USA) said the market seemed a little concerned about the Russia-Ukraine conflict, while warning that low liquidity could boost prices.
Gold is considered a safe haven in times of economic and political crisis. Mr. Spivak said gold could test $ 2,000 an ounce, even $ 2,100 an ounce.
One factor limiting gold’s rally on April 18 was that the US 10-year bond yields stabilized at their highest levels since December 2018.
Meanwhile, China’s economy grew at a faster rate than expected in the first quarter of 2022, growing by 4.8%, but the risk of a contraction in the coming months increases due to the impact of the epidemic and tensions in Ukraine. .
According to technical analyst Wang Tao of Reuters news agency (UK), spot gold could rally between $1,998 an ounce and $2,012 an ounce, as it has broken through resistance at $1,984 an ounce. .
In other precious metals markets, spot silver rose 0.7 percent to $25.85 an ounce while platinum rose 1.7 percent to $1,006.27 an ounce. Palladium rose 1.4% to $2,400.60 an ounce.
In Vietnam, at 4:19 p.m. on April 18, the price of SJC gold was listed by Saigon Jewelry Company Limited in Hanoi at 70.35 – 71.02 million VND/tael. buy in – sell out).
Source: baotintuc.vn
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Source: Vietnam Insider