Gold price is at a high level, in Ho Chi Minh City, selling pressure overwhelms buying pressure
According to Lao Dong on February 21, at large gold stores in Ho Chi Minh City, selling pressure continues to overwhelm buying pressure. With high purchase prices, many people have taken advantage of bringing gold to sell.
"I brought 2 rings I bought and stored since the beginning of last year to sell because I needed money to solve my personal work. At this time, the price of gold is high, so selling is profitable, and we have to wait 10 - 15 minutes to make a transaction" - Ms. Truong Hoai in Go Vap district said.
In the selling area, the number of customers transacting is quite small, the store also has enough gold rings from 3 taels, 5 taels to 1 tael, 2 taels, 5 taels... Gold bars also have all kinds.
Some store owners at the District 5 gold market also said that the number of customers coming to sell has increased in the past 2-3 days. "The gold price is at a record level, so many people also come to trade to make a profit. Most customers only sell a small quantity, about a few taels of gold rings" - said a representative of a store on Bui Huu Nghia Street (District 5). See more...
More than 400 hectares of Long Bien golden land are abandoned, surrounded by corrugated iron
Pi Network digital currency is sold off, many investors are disillusioned
On February 20, 2025, the Pi Network cryptocurrency officially launched its network and was listed on the Hong Kong exchange, creating a big wave of interest in the cryptocurrency investment community.
However, immediately after this event, the Pi currency recorded a big shock when prices continuously plummeted, causing many individual investors to be disappointed and worried.
Mr. Le Hoang Trung (35 years old, owner of a business store in Hanoi) has known about Pi Network coins since 2019 and holds a large amount of this currency.
Mr. Trung said: Before listing, Pi was spontaneously traded on the black market at high prices, at times even reaching the expectation of hundreds, thousands of USD per dong. But the reality of the crash happened right after it was officially listed, the price of Pi plummeted from the original level of more than 2 USD to below 1 USD in less than 24 hours".
"Many of us have high expectations, once Pi is on the market, the price will skyrocket, bringing big profits. But in reality, prices have decreased sharply due to huge selling pressure, especially from non-professional investors or those who participate in excavation for free before" - Mr. Trung shared. See more...
Coffee prices drop sharply
On February 21, the domestic coffee market fell sharply. Coffee purchased in the Central Highlands provinces ranges from 131,000 - 132,200 VND/kg, down 1,200 - 1,300 VND/kg compared to the previous day. Specifically:
Dak Lak, Gia Lai: 132,000 VND/kg (1,300 VND).
Lam Dong: 131,000 VND/kg (1,200 VND).
Dak Nong: 132,200 VND/kg (1,300 VND).
Compared to the highest price recorded on February 19 (133,500 VND/kg), coffee prices have lost about 1,500 - 1,700 VND/kg after only two sessions, showing selling pressure in the market in the context of plummeting world prices. See more...
