Gold prices could reach $3,000 an ounce by the end of 2025
Some analysts expect gold prices to hit $3,000 an ounce by the end of 2025. Earlier this week, Goldman Sachs reaffirmed its forecast for gold prices to hit $3,000 an ounce by the end of 2025.
Despite the challenges facing the market, gold continues to be a hot investment. Last week, the world's largest gold-backed ETF, SPDR Gold Shares, celebrated its 20th anniversary.
According to a survey conducted by State Street Global Advisors on this occasion, 38% of US investors currently have gold in their portfolio, a significant increase from 20% in 2023. Of those, 56% said they intend to increase their investment ratio in gold in the next 6-12 months.
Despite short-term volatility, the gold market still holds strong long-term growth potential.
Lukman Otunuga - Managing Market Analyst at FXTM - said that besides geopolitical tensions, gold is also supported by the dovish monetary policy stance from the US Federal Reserve (FED), with the possibility of a rate cut next month at 50/50.
“Gold is trading 4% below its record high and could retest this level if geopolitical tensions trigger a wave of risk aversion,” Otunuga said. See more...
Coffee prices increase sharply, break out
Agricultural product prices today: At the giacaphe.com trading floor, the average coffee price is at 120,000 VND/kg, an increase of 1,000 VND/kg compared to the previous day.
Gasoline prices expected to increase across the board
World oil prices on November 25 (Vietnam time) decreased simultaneously. At 11:11, WTI crude oil was at 71.06 USD/barrel, down 0.18 USD/barrel, equivalent to a decrease of 0.25%. Brent oil was at 74.45 USD/barrel, down 0.18 USD/barrel, equivalent to a decrease of 0.24%.
Although world oil prices fell at the beginning of the week, last weekend, oil prices had many consecutive strong increases.
Speaking to Lao Dong, a representative of the Vietnam Commodity Exchange (MXV) said that the energy market witnessed an impressive week of gains, with all commodities improving. Crude oil in particular stood out with a 6% increase, completely offsetting the 4% decline in the previous week.
Bottom-fishing buying pressure in the market, rising geopolitical tensions and concerns about short-term oil supply shortages in some major oil-producing regions are the reasons that pushed world oil prices to skyrocket last week.
Oil prices have risen amid the conflict in the Middle East that has shown no signs of cooling down, while changes in US policy regarding the war in Ukraine have pushed the market to worry that global crude oil supplies could be disrupted...
For the domestic market, gasoline prices are currently linked to the world market, so according to the forecast of some gasoline distribution and trading enterprises in Hanoi, in the next adjustment session (Thursday, November 28, 2024), gasoline prices are forecasted to increase simultaneously. See more...
Soursop prices increase at the end of the year
At the end of the year, the demand for soursop consumption to produce post-processed products increased, pushing up the price of this agricultural product. Currently, soursop in the Mekong Delta region is purchased by traders at 40,000 - 57,000 VND/kg, an increase of about 15,000 VND/kg compared to the same period.
The 1,000m2 soursop garden of Mr. Le Huu Vinh's family (Nga Nam town, Soc Trang province) is in season. However, due to the influence of the weather, the fruit set rate is low, and the season is just starting, so the output sold to traders is still low, which makes him regretful.
"Last week, my family sold 100kg to traders, the remaining fruit was not big enough and had not yet fully bloomed. Traders bought it for 40,000 VND/kg, they bought it and sold it to tea companies, this price is 10,000 VND/kg higher than last year," said Mr. Vinh.
According to gardeners, thanks to its good adaptation to soil conditions and high economic value, in recent years gardeners have expanded the area of soursop cultivation. On average, each hectare brings in an income of 150 - 200 million VND, sometimes up to 300 million VND, depending on the time.
According to statistics from the agricultural sector of Hau Giang province, the whole province currently has more than 710 hectares of soursop, mainly concentrated in Phung Hiep and Long My districts. See more...
