Gold price breaks new peak, banks raise forecast
Three "big guys" in the investment banking sector, Morgan Stanley, Citigroup and Goldman Sachs, have adjusted their gold price forecast for 2025 and the following years as the increase of this precious metal has not shown any signs of stopping. New supporting factors continue to appear, helping gold prices maintain record highs.
Amy Gower - commodity strategist in the metals and mining sector at Morgan Stanley said that gold prices have continuously hit new peaks for a long time.
I think there are two different stories driving gold. One is that actual demand has changed since 2022 when central banks increased their gold purchases sharply, double the speed of the previous decade and has remained so until now. Recently, investment demand for physical gold, gold bars, gold bars and ETFs has also begun to increase. This is a new flow of money into gold, and there is probably still room to continue, Gower said.
Gower also expects the macro environment to be increasingly favorable for gold in correlation with stocks and bonds. High interest rates have created an unfavorable macro context for gold. But if interest rates fall, it will be a strong supporting factor, she added.
She emphasized that the interest rate trend is more important than the current interest rate. " Interest rates are still high compared to the period before the interest rate increase cycle started. The important thing is whether we are at the peak, and whether the upcoming trend will go down? If there is, gold will become more attractive.
When asked about the price gold could reach, Gower said Morgan Stanley's bullish scenario is $3,300 - $3,400/ounce this year. However, she warned of the possibility of "destroying demand" when gold prices increase too quickly. See more...
Unstable orange crops, Tra Vinh farmers still expand areas
After a long time, the price of oranges in Tra Vinh has dropped to 3,000 VND/kg, for nearly 2 months now, the price has increased to 4,000 - 5,000 VND/kg. However, although the price of oranges is still unpredictable, making growers worried, many farmers still want to continue growing oranges.
Mr. Tran Thanh Phong, a farmer in Cau Ke district, said that his family has been growing oranges on an area of over 1ha since 2013 and is familiar with the farming technique of this crop. He plans to plant an additional 0.5 hectares of residential land in the hope that when many people switch to growing other trees, the supply of oranges will decrease, thereby increasing the price of oranges again.
"Growing oranges is very difficult at the moment, but my family has invested a lot in this orange garden. If we switch to growing other trees, it will take us a lot of time and money to improve the land" - Mr. Phong said. See more...
Reasons for the gradual increase in social housing prices to reach 25 million VND/m2
Coffee prices continue to decline
According to the survey on April 1, 2025, the price of green coffee beans in the Central Highlands has decreased steadily, commonly around 131,200 - 132,300 VND/kg.
Dak Lak: 132,300 VND/kg (down 700 VND).
Lam Dong: 131,200 VND/kg (down 800 VND).
Gia Lai: 132,200 VND/kg (down 600 VND).
Dak Nong: 132,300 VND/kg (down 700 VND).
The second consecutive price decline was mainly due to profit-taking on the London Robusta exchange, in the context of trading in early April being affected by the upcoming abundant supply pressure. See more...
