| Economic expert talks about steps to return gold to the market The era of gold rings and the story of gold market management |
Gold price today
World gold prices this morning (March 18) tended to increase, with spot gold increasing by 3 USD compared to last week's closing level to 2,3 USD/ounce.
Last week, the gold market was under pressure after receiving a "hotter" inflation report than expected. The yellow metal ended the week down 0,8% for the week, recording its first weekly loss after four weeks of price increases.
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| Forecasting a difficult week for the gold market |
Domestically, at 8 a.m. this morning, the SJC brand gold bar price was listed at 79,60 million VND/tael purchased and 81,45 million VND/tael sold, moving sideways compared to yesterday afternoon.
Ring gold continues to decline. At Bao Tin Minh Chau, the price of gold rings at 8 am this morning was listed at 68,13 million VND/tael purchased and 69,38 million VND/tael sold.
Experts say that this week will be a relatively difficult week for the gold market as the Fed discusses future policy directions and provides updated economic forecasts.
Gasoline prices increased
According to Dailyfx, at 5:30 a.m. on March 18 (Vietnam time), Brent and WTI oil prices increased slightly. On the world market, WTI oil price reached 3 USD/barrel, an increase of 80,61 USD/barrel. Meanwhile, Brent oil price reached 3,18 USD/barrel, an increase of 84,91 USD/barrel at 3,28:6 a.m. on March 25, Vietnam time.
The OPEC+ alliance, including OPEC and allied crude oil producing countries, has extended production cuts until the end of the second quarter of 2024. At the same time, Ukraine's attack on a series of large Russian refineries and petrochemical plants could significantly reduce Russia's petroleum production capacity.
Domestically, today's gasoline prices are sold as follows: E5 RON 92 gasoline does not exceed 22.490 VND/liter; RON 95-III gasoline is not more than 23.543 VND/liter; Diesel oil is not more than 20.549 VND/liter; kerosene not more than 20.706 VND/liter; fuel oil is not more than 16.432 VND/kg.
7.500 billion VND in corporate bonds issued in the first 2 months of the year
In the first 2 months of the year, there were 13 corporate bond issuances with a total value of nearly 7.500 billion VND, 8,2 times higher than the same period last year. This is how many businesses choose medium and long-term loans to minimize costs. At the same time, increase production scale and expand markets in the current context
Among nearly 7.500 billion VND, the highest proportion is in the real estate and construction enterprises group, accounting for more than 73%, the securities and banking group is in second place with more than 2%. The rest is trade and services
More than 87% of bond buyers are institutional investors and foreign investors.
Freight costs increase
Tensions in the Red Sea have caused damage to the import and export activities of many countries and Vietnam is not excluded. Some negative impacts that can be seen immediately are increased freight rates, a shortage of empty containers, longer shipping times and affecting the ability to meet import and export orders.
Shipping fees have now increased by 50-70% as Red Sea tensions escalate, making businesses worried and asking for sanctions against shipping companies taking advantage of the fee increase.
Freight charges from Vietnam to Europe have increased, with prices to Hamburg (Germany) increasing nearly three times between December 3 and January 12. A cargo ship from Singapore to Rotterdam usually takes 2023 days but is now 1 days slower because it has to change its route around Africa's Cape of Good Hope.
Each 40ft container imported by wood businesses from Europe costs more than 500 USD due to the impact of Red Sea tensions.
The real estate market has just begun to recover and is worried about price increases
Although recovery has begun and businesses have launched products to keep up with the new market cycle, what is worrying is that the selling prices of both new and old products on the secondary market have begun to increase. .
For example, at the Eaton Park Project (Thu Duc City), although the official price has not been announced, according to brokers, the selling price will be about 6.000 - 7.000 USD/m2 (equivalent to 147,6 - 172,2 million VND/m2).
Or the luxury apartment project in Van Phuc Urban Area (also in Thu Duc City), according to the investor's representative, the selling price is not less than 100 million VND/m2. Similarly, the luxury apartment project located in The Global City urban area of Masterise Homes also has a selling price of 100 million VND/m2 or more, especially the townhouse products in this project were sold to the market at a price of 400 VND/m2. million VND/mXNUMX.
