Gold price breaks record, rising momentum continues
Despite the temporary halt to trade tensions, gold prices are showing no signs of cooling down. One market strategist said geopolitical uncertainty will continue to support gold prices.
In an interview with Kitco News, Joy Yang, Global Director of Index Product Management at MarketVector, said that despite gold hitting a record high above $2,800 an ounce, the precious metal could still rise higher as geopolitical instability shows no signs of ending.
Even as US President Donald Trump delayed imposing tariffs on Mexico and Canada for 30 days, the expert explained that gold's renewed drive as a safe-haven asset is not limited to a few trade disputes.
“There will be times when another unexpected factor appears that the market cannot react to. In this context, it is reasonable for gold prices to remain above $2,800/ounce,” said Joy Yang. See more...
$1.4 billion power plant in Dong Nai officially connected to the grid
Yen nears new high as USD weakens
According to FXStreet, on February 5, the Japanese Yen (JPY) is holding on to its significant gains during the day, although it has slightly decreased but reached its highest level since mid-December last year. The main reason is that newly released data shows that real wages in Japan are increasing, raising expectations that the Bank of Japan (BoJ) will continue to raise interest rates.
This is in stark contrast to the prediction that the US Federal Reserve (FED) will cut interest rates twice this year. This difference in monetary policy has helped the Japanese Yen strengthen against the USD.
However, the market is still concerned that Japan could become a tariff target of US President Donald Trump.
The bullish sentiment in the market has also made investors less interested in safe-haven assets such as the JPY. However, with a solid foundation and a weakening USD, the Japanese Yen still has a chance to continue to appreciate. See more...
Rice prices remain stable at the beginning of the new year
Rice prices on February 5 in the Mekong Delta did not fluctuate much. Prices of all types of rice were relatively stable, and fresh rice prices remained stable compared to before Tet.
According to the update from the Department of Agriculture and Rural Development of An Giang province, the current price of IR 50404 rice (fresh) decreased by 100 VND, fluctuating at 5,400 - 5,600 VND/kg; OM 5451 rice fluctuates at 5,800 - 6,000 VND; Dai Thom 8 rice (fresh) fluctuates at 6,600 - 6,800 VND; OM 380 rice fluctuates at 6,600 - 6,700 VND/kg...
For rice, the price of IR 504 raw rice fluctuates at 7,700 - 7,800 VND/kg. The price of IR 504 finished rice fluctuates at 9,500 - 9,700 VND/kg. See more...
