Gold prices rebounded

Open trading day, SJC gold price listed on the Hanoi market by Saigon Jewelry Company Limited at 68.3 – 69.02 million VND/tael (buy in – sell out), an increase of 150,000 VND/tael in both buying and selling directions. and sold out in the afternoon compared to yesterday’s closing.

Phu Quy Jewelry Joint Stock Company listed SJC gold price increased by 150 thousand dong/tael in both buying and selling afternoon with the closing session yesterday, at 68.15 – 68.95 million dong/tael (buying). in – sold out).

On the world market, at 8:30 am this morning on April 1 (Vietnam time), the world gold price stood at 1,938.34 USD/ounce, up 11 USD/ounce over the same hour last morning.

The world gold price this morning continued to soar despite the USD rising again. Concerns about inflation are still present and the need to find a safe investment channel is still present.

Gold prices increased due to a sharp drop in oil prices. On the New York Stock Exchange, the price of Brent oil closed yesterday, down nearly 5%, to below $108/barrel, WTI oil also approached $100/barrel after US President Joe Biden gave an important speech, emphasized that it will release the US strategic oil reserve of about 1 million barrels per day, within the next 3 months to cool down fuel prices.

Currently, gold is struggling in 2 trends. Many expect gold to continue rising due to geopolitical and inflationary risks. Meanwhile, some people fear that this item will decrease because interest rates in many countries around the world may increase rapidly.

Gold’s uptrend is also limited as peace talks in Ukraine continue to have positive signals. The bears may be betting on hopes of a deal to end the Ukraine conflict.

Gold is also under pressure when the virtual currency market is active again. Bitcoins is moving towards the threshold of 50,000 USD.

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