After a series of record increases, world gold prices go down

In the trading session on February 26, world gold prices fell slightly, after a series of record increases, as investors awaited inflation data and US President Donald Trump's tariff plan.

Gold jewelry on display at a store of Doji Gold and Gemstone Group. (Photo: VNA)

In the trading session on February 26, world gold prices fell slightly, after a series of record increases, as investors awaited inflation data and US President Donald Trump's tariff plan.

Specifically, spot gold prices fell slightly by 0.1% to $2,912.51/ounce. Gold, considered a hedge against instability and inflation, hit a record high of $2,956.15 in the first session of the week, when tariff policies raised concerns about a trade war.

At the end of this session, the price of gold futures traded in the US increased 0.4% to 2,930.60 USD/ounce.

On February 25, President Trump ordered an investigation into the possibility of imposing new tariffs on imported copper, aiming to restore domestic production - an essential metal for electric vehicles, power grids and many other consumer goods.

David Meger, senior manager at metals trading firm High Ridge Futures, said the uptrend in gold prices is still being maintained. He said the current price adjustment is completely normal before important data is released.

Investors are now focusing on the US Personal Consumption Expenditures (PCE) report scheduled to be released on February 28.

Mr. Meger said that higher-than-expected inflationary pressures could cause the US Federal Reserve (Fed) to delay cutting interest rates. The Fed reduced interest rates three times last year, a total of 75 basis points.

The market now expects the Fed to cut rates another 54 basis points this year.

In a report, Mr. Frank Watson, market analyst at financial market analysis company Kinesis Money, said that the behavior of central banks will be a decisive factor for gold prices in the coming time, because this behavior has been an important factor driving gold demand in recent years.

In Vietnam, at 2:32 p.m. on February 26, Saigon Jewelry Company listed the price of SJC gold at VND 89.00 - 91.30 million/tael (buy - sell).

Source: VNA

Source: https://baophutho.vn/sau-chuoi-tang-ky-luc-gia-vang-the-gioi-di-xuong-228539.htm