Gold price on 26.3: turning down when stocks increased again
The price of gold on March 26 in the world and in the world all went down after the US stocks continued to have a rising session.
At the beginning of March 26, the price of gold bar at Saigon Jewelry Company (SJC) was listed at VND 46.6 – 47.3 million / tael, down VND 50,000 in both directions. before.
Similarly, the price of gold bar bought by Doji in Hanoi was 46.65 million dong / tael and sold 47.05 million dong / tael, down 200,000 dong / tael in the afternoon, but remained the same. purchase price. Particularly, SJC brand gold piece at Phu Nhuan Jewelry (PNJ) system remained at VND 46.3 – 47.3 million / tael.
On the world market, ending the trading session on 25.3, gold contract delivered in April dropped 27.4 USD to 1,633.40 USD / ounce. At 8am this morning (March 26), the spot gold price also dropped to $ 1,609.3.
According to CNBC, a report showed that orders for US durable goods rose 1.2% in February without seeming to have an impact on March 25 gold trading. Gold prices withdrew from the highest level in two weeks after the US $ 2,000 billion stimulus package of the US Government reached a new agreement to be approved. One of the important contents is that people who are unemployed due to the effects of Covid-19 epidemic will be granted 600 USD / month and last for 4 months.
However, speaking to Reuters, OANDA analyst Craig Erlam said the US stimulus initially had a huge positive impact but still questioned whether it was sustainable in the context of the Covid- 19 complicated developments. Therefore, gold price still has a chance to rise again as the disease continues to spread.
Contrary to gold prices, stock prices rebounded from information of US stimulus package. Closing on March 25, the Dow Jones increased by 495.64 points, equivalent to 2.39% to 21,200.55 points when stocks such as Boeing and Nike increased sharply. The S&P 500 index added 1.1% to 2,475.56 points. Particularly, Boeing shares gained 24% to lead the rise of Dow Jones. However, the Nasdaq Composite decreased by 0.45% to 7,384.30 points.