Gold prices may sink deeper next week
Jesse Colombo, an independent precious metals analyst and author of the Bubble Bubble report, said investors should prepare for a short-term downside scenario as the summer trading season begins next week with a long weekend on July 4.
Colombo expects gold prices to remain within a wide range of $3,200 to $3,500/ounce. Gold prices have fallen nearly 3% for the week. Despite the decline, the precious metal still maintained the initial support level of 3,250 USD/ounce.
In addition to the seasonal factor, economic sentiment has improved as the US signals progress on trade agreements and a ceasefire between Israel and Iran to ease regional tensions.
With the US and China completing their trade framework and Israel/Iran respecting the ceasefire agreement, investors are rushing back on risky assets, withdrawing capital from safe havens. This market sentiment could put additional downward pressure on gold prices ahead of a new eventful week, said Lukman Otunuga, senior analyst at FXTM. See more...
Vietnam's tuna exports gradually recover
According to the Vietnam Association of Seafood Exporters and Producers, tuna export turnover in May reached more than 91 million USD - the highest since the beginning of the year and increased by 8% over the same period in 2024. This is a positive signal for the tuna industry in the context of facing a series of uncertainties in geopolitics and global trade policies.
The US continues to be the leading market, accounting for 41% of the total value of tuna exports in the first 5 months of the year. Followed by the EU and Thailand with rates of 23% and 4%, respectively.
In contrast, exports to the EU fell 11% in May, although key markets such as the Netherlands and Italy still saw slight increases. Meanwhile, in the Middle East, prolonged tensions between Israel and Iran have caused tuna exports to Israel to decrease by 42%. The Saudi Arabian and UAE markets also recorded declines of 89% and 52%, respectively. See more...
Inside the warehouse of genuine branded fake floating cosmetics discovered in Kien Giang
Cho Vinh traders strive to innovate business methods
On June 28, at Vinh Market, reporters recorded that trading activities were still maintained in most areas, although there were times when the number of visitors was less.
Although some kiosks have to temporarily close, the business situation is gradually changing positively thanks to support measures from authorities and efforts by traders to innovate themselves.
Mr. Nguyen Huu Dac, Head of Vinh Market Management Board, said: "We understand the difficulties that traders are facing. The Management Board is coordinating with local authorities to reduce the cost burden for traders. Support measures have been and are being implemented, helping small traders reduce financial pressure and focus on business development".
In addition to efforts to reduce costs and provide financial support, the application of technology and improving facilities is an important factor to increase the competitiveness of Vinh Market. See more...
