Warning from experts about the possibility of gold price adjustment
Gold prices are on track for their strongest year in more than four decades, although they are expected to enter a short-term correction phase, according to precious metals experts.
After falling about 10% from a record high of over $4,390 an ounce, gold is on track to record its third consecutive week of decline. However, since the beginning of the year, gold prices have increased by more than 50%, marking the best performance since 1979 - a historic milestone for the precious metals market.
Investors and gold traders are closely watching the statements of officials of the US Federal Reserve (FED) for clues on the monetary policy orientation, a factor that is expected to determine the direction of gold prices in the short term.
Mr. Pranav Mer - Vice President for Commodity and currency Research at JM Financial Services Ltd - commented: "Gold prices are likely to continue to move sideways or adjust slightly, as the market focuses on inflation data, US Supreme Court hearings on tariffs, FED officials' statements and economic data from China".
Meanwhile, Mr. Prathamesh Mallya - Deputy Director for Research on Non-agricultural Goods and currency at Angel One - said: "Gold is still on track to record its strongest annual increase since 1979. If current foundational factors continue, market fluctuations could fuel a new rally in the coming period." See more...
After the flood, Nhat Tan peach growers struggle to grow chrysanthemums and violets to save the Tet flower crop
A business in Lao Cai was fined more than 100 million VND
The Department of Industry and Trade of Lao Cai province has just issued a decision to administratively sanction Yen Phu Joint Stock Company for violating many provisions of the law during the construction and construction management of the lead-zinc extraction factory project in Hanh Phuc commune.
Accordingly, Yen Phu Joint Stock Company (located in Nghia Lo ward, legal representative is Mr. Nguyen Xuan Nhat - Director of the company) was fined for 3 violations.
The first act, the company did not send a written notice of the construction date (attached with a construction permit and design documents) to the local state management agency and the construction professional agency as prescribed. For this violation, the enterprise was fined 7.5 million VND. See more...
Dairy products at the beginning of the season are priced well, farmers in Can Tho are still unhappy
These days, Mr. Nguyen Van Nam's star apple garden (My Khanh commune, Can Tho city) is starting the harvest season, with a selling price of 38,000 - 40,000 VND/kg. According to this gardener, this year, the family has worked early to take advantage of the early harvest price. But before we could be happy because star apple prices were good, the yield was affected.
"This year, my family plans to harvest early to get high prices, so we can avoid the right rain. My whole garden is about 0.5 hectares, the rate of fruit cracking is from 15 - 20%. All cracks are considered abandoned because traders do not buy them" - Mr. Nam shared. See more...
