Gold prices continue to recover.

ANTD.VN - Gold prices have recovered somewhat after the sharp drop last weekend, and the buy-sell spread has narrowed as the market stabilizes.

Within the first 30 minutes of the morning trading session, gold businesses continuously adjusted their buying and selling prices. Accordingly, by 9:30 AM, the price of SJC gold in Vietnam had increased slightly by about 300,000 VND per ounce.

Overall, in the two recent recovery sessions, the price of this gold brand has increased by approximately 800,000 VND/ounce for the selling price and more than 2 million VND/ounce for the buying price. Consequently, the buy-sell spread has narrowed significantly, currently trading around 96.50 - 98.20 million VND/ounce.

Gold prices recovered for the second consecutive session.

Gold rings have also shown a slight recovery in the last two trading sessions. Currently, Bao Tin Minh Chau plain gold rings are listed at 96.60 – 98.90 million VND/ounce. DOJI Hung Thinh Vuong gold rings are listed at 96.30 – 98.70 million VND/ounce; Phu Quy rings at 96.20 – 98.70 million VND/ounce. SJC 999.9 gold rings are listed at 96.40 – 98.00 million VND/ounce.

On the international market, gold prices also rose higher during trading last night and early this morning (Vietnam time). Accordingly, spot gold is trading around $3,025 per ounce.

Precious metals rebounded as a recently released report showed that US consumer confidence continued to fall sharply, raising further concerns that the US economy is heading towards a recession.

The Conference Board said on Tuesday that the Consumer Confidence Index had fallen to 92.9, from 100.0 in February.

This marks the fourth consecutive decline in consumer optimism and marks the lowest level in three years.

Consumer expectations are particularly bleak, with pessimism about future business conditions deepening and confidence in future job prospects falling to a 12-year low. Meanwhile, consumer optimism about future earnings – which had remained fairly strong over the past few months – has largely vanished. This suggests that anxieties about the economy and the labor market have begun to spread.

Concerns about inflation, prices, and employment are making gold play a vital role as a safe haven.

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