Gold price increases, people are busy buying and selling
Recorded by Lao Dong reporter on March 31, the domestic price of plain round gold rings and gold bars continued to increase.
At some gold shops on Tran Nhan Tong Street (Hanoi), people's demand for gold rings is increasing. Many people are willing to wait since the store has not opened yet to be able to buy gold rings.
Ms. Dao Linh Nhi (Dong Da District, Hanoi) - a customer who came to buy gold rings at a gold shop on Tran Nhan Tong Street, Hanoi - shared:
"In recent days, most stores have limited the quantity of gold rings sold. Each day, a person can only buy a maximum of 1 - 2 taels of gold. Currently, the store has announced that each customer can only buy 1 tael of gold. I have been queuing since 8:30 with everyone, but it is not my turn to make a transaction yet".
Ms. Linh Nhi said that if she could not buy, she would come back the next day to continue waiting to buy.
Ms. Nguyen Thi Mai (Hoan Kiem District, Hanoi) also lined up early when this gold shop had not opened yet to wait to buy gold rings. However, more than an hour had passed, and she had not yet been able to make the transaction. See more...
Pepper prices hit a peak, farmers are still not fully happy
Yen benefits, may continue to increase
According to Lao Dong, on March 31, the Japanese Yen (JPY) continued to maintain its upward momentum as supporting factors became increasingly clear.
In the session on March 31, the USD/JPY pair recovered slightly from its lowest level in more than a week, but the general trend is still leaning towards the increase of the JPY. The exchange rate is currently trading in the range of 149.002 USD/JPY; meaning 1 USD can be exchanged for about 149 JPY.
The main reason comes from investors' risk-off sentiment due to tense developments in the global market.
US President Donald Trump has just decided to impose a 25% tax on all imported cars not manufactured in the US and is expected to expand the higher tax rate to many other countries from April 2. This raises concerns about a large-scale trade war, causing investors to look to JPY - a safe-haven asset. See more...
Quang Ngai in the Tra Bong cinnamon harvest season
Quang Ngai is the locality with the second largest cinnamon growing area in Vietnam, most concentrated in Tra Bong district. The whole Tra Bong district currently has about 5,500 hectares of cinnamon growing area. Along with maintaining the current cinnamon growing area, Tra Bong district is implementing a plan to expand the cinnamon area, striving to increase the cinnamon tree area to 6,000 hectares by 2030.
It is the time of cinnamon harvest, so everyone growing cinnamon in Tra Bong district is busy. Some went to the fields to peel cinnamon, others took advantage of the sun to dry cinnamon to sell to traders. Currently, fresh cinnamon peels cost from 15,000 - 16,000 VND/kg, dried cinnamon 40,000 - 45,000 VND/kg.
Mr. Ho Van Sang in Huong Tra commune, Tra Bong district shared that his family has more than 5,000 cinnamon trees, of which about 600 are old enough to be harvested. With the current cinnamon price, this crop is estimated to earn him tens of millions of VND. See more...
