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Gold price today April 22: Still motionless

Gold price today The slowdown as rising US bond yields dampened demand for the safe-haven asset. Specifically, the US 10-year bond yield inched up after falling from a three-year high on Wednesday (April 20).

Gold price today April 22: Still motionless - 1

The price of gold has slowed down today.

US bond yields have edged higher on expectations that the US Federal Reserve (FED) will aggressively raise interest rates as inflation rises to a 40-year high.

Gold prices are very sensitive to rising short-term US interest rates and higher bond yields, as this increases the opportunity cost of holding non-yielding assets like gold.

Domestic gold price

At the end of the trading session on April 21, Saigon Jewelry Company listed the price of SJC gold at 69.7 million dong/tael (buying in) and 70.4 million dong/tael (sold out).

DOJI Group listed the gold price at 69.70 million dong/tael (buying in) and 70.40 million dong/tael (sold out).

Gold price forecast

Brian Lan, managing director at GoldSilver Central, said that if gold prices fail to reach $2,000 an ounce, traders can take profits and move money into stocks or even short-term bonds.

Earlier this week, gold was close to the key $2,000 an ounce level as concerns surrounding the conflict between Russia and Ukraine as well as rising inflationary pressures boosted the precious metal’s appeal.

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