Unexpected forecast about the gold price peak in the next 3 months
In a report released on Sunday, Citigroup (Citi) raised its short-term gold price forecast, saying that prices could trade between 3,100 and 3,500 USD/ounce over the next three months - up from the previous forecast on May 12 of 3,000 to 3,300 USD/ounce.
The forecast increase comes after US President Donald Trump suddenly threatened to impose a 50% tariff on all imports from Europe, as early as June 1. However, he later withdrew the statement, saying the European Union had until July to reach a trade deal.
Although concerns about an escalating trade war have somewhat eased, analysts said Donald Trump's actions last week showed that the global economy still has a lot of potential instability.
They also noted that the world has gone through more than half of the 90-day thueopressure period since last month, but no major deals have been announced. See more...
Yen unexpectedly goes against expectations
According to Lao Dong, on May 29, the Japanese Yen (JPY) continued to depreciate against the USD in the Asian trading session.
The main reason comes from a new ruling by the US federal court, when the agency blocked former President Donald Trump's plan to impose a new tax, which was called the "Liberation Day" tax.
The ruling has strengthened market sentiment, with investors stepping up buying in stocks, reducing demand for safe-haven assets such as the yen. Asian stocks and Wall Street futures both increased sharply after this information.
According to FXStreet, concerns about the public debt situation in Japan are also affecting investor sentiment. Recently, Japan's long-term government bond auction recorded its lowest purchase volume since July 2024. This shows that confidence in the country's public finance is declining, contributing to the pressure on the Yen. See more...
Renewable energy is being held back by a series of bottlenecks
Checking Saigon Square, discovering thousands of products suspected of being counterfeit
On the afternoon of May 29, the Ho Chi Minh City Market Management Department (Ho Chi Minh City Department of Industry and Trade) coordinated with relevant units to conduct a surprise inspection at Saigon Square (District 1).
Saigon Square Shopping Center is a shopping area located in the center of Ho Chi Minh City (77 - 89 Nam Ky Khoi Nghia, District 1) attracting many international tourists to visit and shop.
The working group divided into 6 groups, simultaneously inspecting and focusing on handling establishments selling products and goods such as watches, clothes, suitcases, handbags, and fake glasses of famous brand products. Initially, traders have not provided information and related documents of thousands of products suspected of being counterfeit. See more...
