Gold prices increase sharply, experts say there is still momentum
On Kitco, Jesse Colombo - independent precious metals analyst and author of The Bubble Bubble Report on Substack - commented that the decline in gold prices at the end of the week was just a temporary stop at an important resistance level and an important psychological level.
"The trend is still strong and I expect gold prices to continue to try to break the $3,000 threshold, maybe next week."
Meanwhile, commodity analysts at TD Securities note that gold's testing at $3,000/ounce will mark the third largest rally in modern history. They said that although risks are increasing in the market, the increase is not over.
Macro funds are still capable of buying more, but their budgets are not endless. However, larger macro factors are still supporting the increase in the medium term, the analysts said in a note. See more...
High price of pigs, traders sell endlessly
Recorded on March 16, in the North, the price of live pigs decreased the most in Nam Dinh, down to VND 75,000/kg after decreasing by VND 3,000/kg. In Ha Nam, Yen Bai, Ninh Binh, pig prices have decreased by 1,000 - 2,000 VND/kg, ranging from 74,000 - 76,000 VND/kg...
The South witnessed mixed fluctuations. While Hau Giang and Ca Mau recorded a slight increase of VND 1,000/kg, the price reached VND 81,000/kg, a series of localities such as Binh Phuoc, Dong Nai, Ho Chi Minh City... decreased by VND 1,000 - 2,000/kg, trading between VND 80,000 - 81,000/kg.
At Me Tri Thuong (Nam Tu Liem, Hanoi), at noon on March 16, the pork stall of Ms. Tuong Thi Giang and her husband was still eating pork. "The price of pigs is high, customers switch to eating a lot of chicken and beef. Normally, I sell until 9am, but today, there is still nothing here until almost noon. Recently, I have imported much less than before but still have a shortage of goods" - Ms. Giang said. See more...
Yen depreciates despite salary increase in Japan
According to Lao Dong, the Yen (JPY) ended the trading day of the week with the exchange rate of JPY/USD increasing to 148.618 JPY/USD. Meanwhile, last week, there was a time when the JPY increased to its highest level in the past 5 months, reaching a record of 147.216 JPY/USD.
The increase in the JPY/USD exchange rate was mainly due to the slight strengthening of the USD. However, the JPY's decline may be limited by expectations that the Bank of Japan (BoJ) will raise interest rates.
According to FXStreet, the BoJ is still closely monitoring the economic situation and may delay raising interest rates if global risks increase. In addition, the interest rate gap between Japan and other countries is narrowing significantly, helping to limit the downward pressure on the JPY. See more...
Dak Nong provides 2.56 billion VND to support small and medium enterprises
On March 16, information from the Dak Nong Provincial People's Committee said that the unit had just approved a budget of VND 2.56 billion and assigned the Department of Finance to preside over the implementation of support for small and medium enterprises.
According to the plan, 1 billion VND will be spent on technology innovation and creative startups, 310 million VND will be spent on human resource development. The remaining part focuses on participating in industry clusters, value chains and consulting according to regulations.
Currently, Dak Nong has 3,856 enterprises, with a total registered capital of VND 40,260 billion and 33,682 employees. See more...
