| Economic - market news March 23, 3: This morning both SJC gold bars and gold rings lost value Gold price today March 2024, 24: SJC gold reversed and increased slightly in the weekend session |
Gold price today
The gold market seems to be dominated by the US Federal Reserve (Fed) and interest rate expectations. Immediately after the policy meeting in midweek, markets seemed more certain that the Fed would conduct three interest rate cuts this year. That weakened the greenback and pushed the yellow metal to its highest levels. However, gold's rise was short-lived as the strong recovery of the USD put pressure on the yellow metal.
Gold price today (March 24) on Kitco closed the weekend session at 3 USD/ounce. Gold futures price for delivery in June 2.164 on the Comex New York floor is trading at 6 USD/ounce. At the current price, the world gold price converted to VND (taxes and processing fees included) is different from the domestic SJC gold price of about 2024 million VND/tael.
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| Gold prices fluctuate, experts find it difficult to predict the direction of gold prices next week |
Domestically, at 9am this morning, SJC gold price was listed at 78,05 million VND/tael purchased and 79,95 million VND/tael sold. Thus, compared to yesterday morning, SJC gold price has been adjusted to increase by 300.000 VND in the selling afternoon.
Gold rings have also lost the mark of 70 million VND/tael. At Bao Tin Minh Chau at 9am this morning, the price of gold rings was listed at 68,33 million VND/tael purchased and 69,63 million VND/tael sold.
The USD continues to increase
This morning, the State Bank announced that the central exchange rate of Vietnamese Dong to USD increased by 24 VND weekly, reaching 24.003 VND. The USD Index (DXY), which measures fluctuations in the greenback with 6 major currencies, increased by 0,96% weekly, reaching 104,43.
In contrast to the rising dollar, the euro hit its lowest level in three weeks, down 0,5% in the last trading session, to 1,0806 USD.
Proposal to adjust the family deduction level
Applied according to the Personal Income Tax Law from July 7, the family deduction for individual taxpayers is 2020 million VND/month and the deduction for each dependent is 11 million VND. Family deduction is the amount of money deducted from personal income taxable income before calculating tax on income from salaries and wages of taxpayers.
However, many opinions expressed that the family deduction of 4,4 million VND for 1 dependent is too low. On the other hand, taxation is calculated according to the current partially progressive tax schedule with up to 7 levels with tax rates from 5% to 35% and the gap between levels is too narrow, easily leading to an increase in the amount of tax payable. Starting progressive tax from 5% means monthly income exceeding 5 million VND compared to the starting taxable income is too low.
At the Resolution of the regular meeting in January 1, the Government assigned the Ministry of Finance to research and propose adjusting the level of family deductions in calculating personal income tax to support and remove difficulties in people's lives. .
Rice exports are estimated at about 1,6 million tons
It is expected that by the end of March 3, our country's rice export output will reach about 2024 million tons with a turnover of more than 1,6 billion USD, an increase of about 1% over the same period last year.
In the first quarter of 2024, if export rice output only increases by about 15%, turnover will increase by 45% compared to the same period last year. In particular, after many adjustments, Vietnamese rice prices are still higher than Thai and Indian rice.
Currently, the export price of 1 ton of fragrant rice to Europe and Asia is more than 700 USD. Focusing on processing and exporting fragrant rice is the solution to increase the value of Vietnamese rice.
The Prime Minister directed to speed up the progress of allocation and disbursement of public investment capital
Prime Minister Pham Minh Chinh has just signed to issue Official Letter No. 24 on accelerating the progress of allocation and disbursement of public investment capital in 2024. The Official Letter clearly states: In the first months of 2024, the Government and Prime Minister The Government has drastically directed the allocation and disbursement of public investment capital plans, ministries, branches, central agencies and localities have made many efforts. By the end of February 2, the detailed allocation of the 2024 public investment capital plan reached 2024% of the plan; Disbursement is estimated to reach 94,9% of the plan, higher than the same period in 9,13 (2023%).
However, the amount of capital that has not been allocated in detail is still quite large (about 33 trillion VND) of 21 ministries, central agencies and 43 localities; There are 40 ministries, central agencies, and 26 localities with disbursement rates in the first 2 months of the year below the national average, of which 29 ministries and central agencies have not yet disbursed the 2024 plan (rate disbursement 0%).
