China's explosive demand helps gold prices increase
According to Kitco, China imported the highest amount of gold last month in nearly a year, despite gold prices reaching a record of 3,500 USD/ounce.
Total imported gold volumes reached 127.5 tons, the highest level in 11 months, up 73% compared to March, although gold prices were at a very high level at that time.
The import increase is partly due to the People's Bank of China (PBoC) granting additional import quotas to a number of commercial banks in April, in order to meet strong demand from institutional and individual investors in the context of peak US - China trade tensions.
The buying momentum shows no signs of slowing down. The Chinese gold market continued to support gold prices this month. After a few weeks of unusual weakness, it was Chinese investors who stood up to hoard gold when prices fell, pulling gold back to above 3,300 USD/ounce. See more...
Durian struggles to treat O-lyric gold, Ministry urgently directs
Unexpected forecast for gasoline prices next week
According to ING analysts, the oil market is under new pressure as there is much speculation about what OPEC+ will do with their July output. They expect OPEC+ to continue to increase supply by 411,000 barrels/day in July and now forecast Brent oil prices to average $59/barrel in the fourth quarter.
OPEC+, including the Organization of the Petroleum Exporting Countries and its allies such as Russia, agreed to increase production by nearly 1 million barrels per day (bpd) in April, May and June.
Favorable supply has offset concerns earlier this week by reports saying Israel is preparing to attack Iranian nuclear facilities and new sanctions announced by the EU and the UK on Russia's oil trade...
For the domestic market, a representative of a petroleum business said that petroleum prices will fluctuate according to the world situation. According to current market developments, it is forecasted that in this afternoon's price adjustment period, retail prices of gasoline may have opposite adjustments in the direction of increasing gasoline prices and decreasing oil prices. See more...
Egg prices gradually recover after rumors of fake eggs
In recent days, on platforms such as Facebook and Tiktok, clips and images have appeared with warning content about fake eggs and technology of forging double-tall eggs. Some accounts even identify fake egg factories, making consumers hesitant and not daring to buy eggs because they are worried about this information.
Ms. Pham Hoai Du (Dong Da District, Hanoi) shared: When I watch such videos, I feel very confused. Although it is an unverified source and has not seen the process of making fake eggs directly, recently there have been many cases of fake milk, fake medicine, etc. being exposed, so I think this can happen."
It is the hesitant psychology of consumers that has caused the egg production to decrease in recent days, directly affecting egg prices and farmers' livestock farming activities. See more...
