Many people in Ho Chi Minh City take advantage of profit-taking because they are worried about a sharp decrease in gold prices
On February 26, in Ho Chi Minh City, many people took advantage of selling gold to make a profit because they were worried that gold prices would continue to decrease.
Recorded at branded gold shops in the city, the number of customers coming to transact is bustling. Ms. Nguyen Linh Thuy, residing in Phu Nhuan District, said she has decided to sell 5 9999 taels of gold at a store on Bui Huu Nghia Street (Binh Thanh District).
With the current price, selling is profitable because I bought this gold nearly 2 years ago. In the past few days, I have also been listening to the market, because I was afraid that I would continue to lose below 90 million VND/tael for a few days, I took it to sell" - Ms. Thuy shared.
At Saigon Jewelry Company Limited - SJC (District 3), the number of customers coming to sell gold is also quite bustling.
"My husband and I went to sell our gold savings to save money to buy a house in the near future. At this time, the gold price is at a high level, so it is suitable for sale" - Ms. Kim Thoa (living in District 5) said. See more...
Stone lotus robs the house of fresh flowers, purchasing power is expected to skyrocket on the occasion of March 8
2 golden land markets in Hai Ba Trung district are deserted all year round
Once one of the bustling business markets, today, the Go - Duc Vien market and Mo market (Hai Ba Trung district) cannot avoid a sluggish business situation. Many traders here have to cut staff, limit import, even close their doors, and return kiosks in large numbers.
According to Lao Dong reporters, located at the intersection of Pho Hue - Tran Xuan Soan - Tran Nhan Tong, many stalls at Gio - Duc Vien market (Hai Ba Trung district, Hanoi) have recently been deserted by customers.
Many traders said that because there are few customers coming here on weekdays, the stalls are only open in the afternoon or on weekends.
The average rental price here is from 10 - 15 million VND/month. To make a profit, you have to earn 1 million VND per day to open a bank. Although many stalls here are hanging signs, they have not found tenants for the past few months. See more...
Yen may continue to increase strongly
According to FXStreet, in the trading session on February 26, the Yen lost slightly, the USD/JPY currency pair increased again near 149.30. However, global risk sentiment and the possibility of the Bank of Japan (BoJ) continuing to raise interest rates could help the Japanese Yen (JPY) strengthen and limit the pair's increase.
The BoJ is expected to raise interest rates from 0.50% to 0.75% this year. This could impact investor sentiment and support the Yen.
According to Bloomberg, the market is now betting that the BoJ will raise interest rates in September, with a 50% chance of it in June.
In addition, Japan's Producer-service-ading Index (PPI) data released on Tuesday also further reinforced the possibility of the BoJ raising interest rates. Japan is currently experiencing high consumer inflation, which further raises the prospect of the BoJ continuing to raise interest rates in the coming time, helping the Yen strengthen. See more...
