World gold prices rose by $131 today, October 17th.

On the morning of October 17th (Vietnam time), the spot price of gold in the world market surged to $4357.94 per ounce, an increase of $131.86 compared to the previous session.

This price surge surprised many investors, as gold continued to rise despite having already experienced sharp increases in several consecutive sessions. Based on the listed exchange rate, the current world gold price is equivalent to approximately 138.7 million VND per tael.

The primary reason for the sharp rise in global gold prices is the increased demand for safe-haven assets. Geopolitical tensions, trade tensions, and financial risks are causing investors to shift towards gold to preserve their wealth. In addition, strong technical buying is also contributing to the rapid increase in the price of the precious metal.

Investors are losing faith in the stability of financial markets, making gold the top choice. From the US and Europe to Asia, money is continuously flowing into gold, helping the metal solidify its position as the "king of assets".

The surge in global gold prices also stems from a series of economic and political uncertainties worldwide. In the US, the risk of a prolonged government shutdown, trade tensions with China, and the volatile US dollar are putting significant pressure on investor sentiment.

In Europe, political instability in France and signs of weakening regional economies are further increasing demand for gold as a store of value.

Meanwhile, the crude oil market plummeted to $58 per barrel, and the yield on 10-year US Treasury bonds stood at 4%, indicating that investors are moving away from risky assets.

The latest report from the US Federal Reserve (Fed) also had a positive impact on global gold prices. Slowing US economic growth, declining consumer spending, and the possibility of interest rate cuts in the near future are factors that typically drive gold prices higher.

According to forecasts, the Fed may cut interest rates at least twice, each time by 0.25 percentage points, starting in late October. Low interest rates make gold more attractive compared to other profitable investment channels.

In Vietnam, the price of SJC gold bars on the morning of October 17th was trading around 153 million VND/ounce, while gold rings reached 158 million VND/ounce. These prices continue to maintain a strong upward trend, paralleling fluctuations in world gold prices, indicating that the precious metals market remains vibrant and shows no signs of cooling down.