World gold prices rebounded strongly on October 30, causing the domestic gold prices to increase by VND120,000/tael. The US dollar became weak again when the US GDP grew for the first time after 4 quarters of decline.
Domestic gold was traded on October 30 at VND23.85-23.92 million per tael, up VND120,000/tael from October 29.
Gold trading operations slowed because traders were apparently waiting for decreasing prices to buy gold.
On October 29 gold prices on the New York market bounced back to US$1,042/ounce after the US Department of Commerce announced growth in the country’s GDP for the first time with a drop in unemployment rate.
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