Although the FED cuts interest rates, gold prices still fall sharply
World gold prices fell in the trading session on October 30, after the market reacted to Fed Chairman Jerome Powell's statement on monetary policy orientation, even though the US Central Bank has just cut the basic interest rate by 0.25%, as previously forecast.
The Fed has cut its key interest rate overnight to a target range of 3.75%-4.00%, marking the second easing of the year.
At his press conference after the decision, Mr. Powell gave a cautious warning about the policy outlook: In this Committee discussion, there were mixed opinions on how to continue in December. Another interest rate cut in December is not a sure thing. The policy does not follow a prescribed roadmap, he said.
According to Peter Grant - Vice President and senior metals strategist at Zaner Metals: "Gold prices reacted appropriately as Powell tried to reduce expectations for the next cut. The FED interest rate futures market is adjusting its forecast, which is beneficial for the USD and disadvantageous for gold."
The US dollar index continues to rise, making gold - priced in greenback - more expensive for overseas buyers. See more...
HCMC attracts investment from FDI enterprises in new luck
Lao Cai fines enterprise for illegal construction 75 million VND
On October 30, information from Lao Cai Provincial People's Committee, Muong Lai Commune People's Committee has just fined Nam Vuong Stone Company Limited for organizing construction works that were not in accordance with the granted construction permit.
Accordingly, Nam Vuong Stone Company Limited (located in Yen Phu village, Muong Lai commune, with Mr. Dinh Quang Chau as director) constructed a project with many different items compared to the license issued by the People's Committee of the old Luc Yen district, when the competent authority had not adjusted the license.
The company explained that the violation occurred during the period of local administrative unit mergers, causing delays in licensing and adjustment procedures. See more...
The largest hotel in the old Ninh Thuan stops operating in the restaurant sector
According to the announcement signed by Mr. Dinh An - Director of Son Long Thuan Trading & XD Company Limited, the enterprise was forced to temporarily suspend the business of Long Thuan Hotel & Resort to "adjust, restructure and find more effective business plans".
In the document, Mr. An said that although the company has made efforts to find many solutions to maintain operations, the current financial and business situation does not allow continued operations.
Therefore, Long Thuan Hotel & Resort will officially stop operating in the restaurant sector from November 9, 2025. See more...
