Gold ring price drops but hard to buy
According to Lao Dong reporters on Tran Nhan Tong street (Hai Ba Trung, Hanoi) on January 20, although the price of plain round gold rings has dropped sharply, many people still go to stores to buy them.
However, the store limited the sale of gold rings and did not announce the opening time in advance, causing many people in need to go everywhere to buy them.
Ms. Tran Thi Hoa (Hai Ba Trung District, Hanoi) - a customer coming to transact at a gold shop on Tran Nhan Tong Street - said: "At this time, it is very difficult to buy gold rings at gold and jewelry stores. Many times, before I can enter the store, the staff announces that the rings are sold out. There was a time when they opened for sale 1-2 taels for one person in a day. Today, I came early to buy but I haven't seen them open yet."
Similarly, Mr. Nguyen Van Hung (living in Hoan Kiem district, Hanoi) also had difficulty finding and buying gold rings.
"At the end of the year, I wanted to buy gold rings to save money but it was really difficult. I came here several times but couldn't buy anything. Today I came again, the staff just informed me that there was no specific opening time yet. So I went home and came back another day" - Mr. Hung said. See more...
Goldfish prices increase near the Kitchen Gods' Day
As the Kitchen Gods' Day approaches, Yen So fish market (Hoang Mai district, Hanoi) is bustling with the appearance of goldfish. However, this year, fish prices have increased sharply, while wholesale and retail prices have decreased significantly.
Domestic coffee prices fall sharply
As of 11:30 a.m. on January 20, the domestic coffee market reversed sharply, dropping an average of VND900/kg in the first session of the week. Currently, the purchase price fluctuates between VND118,200 - VND119,000/kg. The average coffee purchase price in the Central Highlands provinces reached VND119,000/kg.
Lam Dong is still the province with the lowest coffee purchasing price in the Central Highlands, about 800 VND/kg higher than the average price. Compared to the closing price last week, coffee prices in this region have dropped by 1,100 VND/kg, currently hovering at 118,200 VND/kg. See more...
Yen continues to rise
According to FXStreet, the Japanese Yen gained, USD/JPY fell below 156.00 on January 20.
The Japanese Yen (JPY) attracted investors' attention after Japan released upbeat Core Machinery Orders data, helping to recover some of the losses from late last week. Meanwhile, expectations that the Bank of Japan (BoJ) will raise interest rates at its meeting this week also supported the JPY. This, combined with a slight decline in the US Dollar (USD), pushed the USD/JPY pair below 156.00 during the Asian session on Monday.
However, investors remained cautious amid uncertainties surrounding incoming US President Donald Trump’s trade policies and a generally upbeat market mood, making them less likely to bet heavily on the safe-haven yen. In addition, expectations that Trump’s policies could push up inflation and prompt the Federal Reserve to maintain high interest rates could limit the dollar’s decline. Investors also tended to wait for Trump’s inauguration speech later in the day and the BoJ meeting on Thursday.
Data released Monday morning showed that Japan’s core machinery orders rose 3.4% in November, the strongest growth in nine months, marking the second straight monthly gain, indicating a clear recovery in the country’s manufacturing sector.
Rising inflation and steady wage growth, along with comments from BoJ officials, have also raised expectations that the bank will raise interest rates this week. BOJ Deputy Governor Ryozo Himino said the January 23-24 meeting will discuss a rate hike as wage growth continues to grow and the policy environment in the United States under Trump becomes clearer.
According to Lao Dong, updated at 12:00 on January 20, the USD/JPY exchange rate is currently fluctuating around 155.932 USD/JPY, meaning 1 USD can be exchanged for about 156 JPY. See more...
