Global markets are experiencing significant turmoil, driven by concerns surrounding US regional banks and their exposure to bad loans. The disclosure from Zions Bancorporation and Western Alliance has raised alarm over potential credit quality issues, prompting investors to seek refuge in safe-haven assets.
As a result, gold prices have soared to record highs, surpassing $4,300 an ounce for the fourth consecutive session. This surge is attributed to a combination of geopolitical tensions, expectations for rate cuts, and a shift towards de-dollarization.
In Vietnam, local gold prices mirrored this global trend, reflecting the heightened demand for security amidst economic uncertainty. With major banks reporting losses and trade frictions escalating, the outlook remains cautious as market participants grapple with the implications of lax lending practices and potential defaults.
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