Experts make surprising predictions about gold prices
The latest Kitco News weekly gold survey shows that industry experts remain bullish on the precious metal, while retail investors also see higher prices in the near future.
Nine experts, or 69%, expect gold prices to surpass this week’s record next week. Four experts, or 31%, predict gold prices will fall. None expect gold to trade sideways or consolidate next week.
Meanwhile, 147 investors participated in Kitco's online poll, with retail investors as bullish as the professionals.
101 traders, or 69%, expect gold prices to rise next week, while 27, or 18%, expect gold to fall. The remaining 19 investors, or 13% of the total, see gold moving sideways in the short term. See more...
Coffee prices stable at high level, waiting for a breakthrough
Domestic coffee prices on February 2 remained unchanged compared to the previous day, maintaining the highest level in many years.
Dak Nong: 129,000 VND/kg; Dak Lak, Gia Lai: 128,800 VND/kg.
Supply remains tight as purchasing and export activities are disrupted by the Lunar New Year holiday. In addition, unfavorable weather conditions in the Central Highlands have also affected the quality of coffee preservation, adding pressure to short-term supply.
Many experts believe that if farmers continue to hoard coffee, coffee prices could reach VND130,000/kg in the next few days, especially when the market begins to enter the peak purchasing period after Tet. See more...
Real estate businesses collect land, plan investment 2025
Traditional market goods almost do not increase in price on the 5th day of Tet
On the morning of the 5th day of Tet, Ms. Le Thi Mai transported a cart of various vegetables harvested from her field, including celery, green mustard, and cabbage, to the gate of the Van Quan agricultural market. By 11am, Ms. Mai's cart of vegetables was empty.
"Most people buy vegetables for hot pot. At first, cabbage sold the slowest, but when there were no other vegetables left, people bought them too," said Ms. Mai.
According to Ms. Mai, vegetable prices are only slightly higher than before Tet, because this year the weather is favorable so vegetables are green and not scarce. Before Tet, Ms. Mai sold celery for 8,000 VND/bunch, now it is only 10,000 VND/bunch; green mustard from 7,000 VND/bunch to 8,000 VND/bunch; cabbage from 10,000 VND/plant to 12,000 VND/plant. See more...
Lending interest rates in 2025 will increase due to pressure from deposit interest rates and USD
After savings interest rates increased by an average of about 0.5% from mid-2024, banks - especially private and small-scale commercial banks - are tending to adjust deposit interest rates to attract savings deposits.
This is considered a necessary step to ensure sufficient capital for lending activities in the context of credit growth expected to reach about 16% next year.
According to reports from Vietcombank Securities Company (VCBS) and MB Securities (MBS), although 12-month savings interest rates at most banks remain below 6% per year, the slight increase in deposit interest rates in the second half of the year has had a spillover effect on lending interest rates.
Experts say that lending interest rates may increase by about 0.5-0.7% compared to the decrease of nearly 1% last year, to offset pressure from capital mobilization. See more...
