Gold prices continue to recover

ANTD.VN - Gold prices have recovered somewhat after a sharp decline last weekend, and the gap between buying and selling prices has also narrowed as the market has become more stable.

In just the first 30 minutes of the morning trading session, gold trading businesses continuously adjusted gold buying and selling prices. Accordingly, as of 9:30 a.m., the domestic SJC gold price increased slightly by about 300,000 VND per tael.

In the last two recovery sessions, the price of this gold brand has increased by about 800 thousand VND/tael for selling and increased by more than 2 million VND/tael for buying. Accordingly, the buying-selling gap has narrowed significantly, currently trading around 96.50 - 98.20 million VND/tael.

Gold prices recovered for the second consecutive session

Gold rings have also recovered slightly in the last two sessions. Currently, Bao Tin Minh Chau plain round rings are listed at 96.60 - 98.90 million VND/tael. DOJI Hung Thinh Vuong gold rings are listed at 96.30 - 98.70 million VND/tael; Phu Quy rings are listed at 96.20 - 98.70 million VND/tael. SJC 999.9 rings are listed at 96.40 - 98.00 million VND/tael.

In the international market, gold prices also increased in the trading session last night and early this morning Vietnam time. Accordingly, spot gold is trading around 3,025 USD/ounce.

Precious metals rallied as a newly released report showed US consumer confidence continued to plummet, fueling further concerns that the US economy is heading for recession.

The Conference Board said Tuesday that its consumer confidence index fell to 92.9, down from 100.0 in February.

This is the fourth consecutive decline in consumer confidence and falls to a three-year low.

Consumer expectations were particularly bleak, with pessimism about future business conditions deepening and confidence about future employment prospects falling to a 12-year low. Meanwhile, consumer optimism about future incomes — which had remained strong over the past few months — has largely evaporated, suggesting that concerns about the economy and the labor market are beginning to spread.

Concerns about inflation, prices, and jobs are making gold act as a safe haven.

Source: https://www.anninhthudo.vn/gia-vang-tiep-da-phuc-hoi-post607123.antd