Gold price skyrockets, investors stick to the trade situation
According to UBS commodity analyst Giovanni Staunovo, the weaker US dollar provided slight support for gold prices.
As the deadline for August 1 is approaching, the market will focus on whether a trade deal can be reached or the US will implement the tax, said Giovanni Staunovo.
The USD index fell 0.2% against a basket of major currencies, making gold cheaper for holders of other currencies.
US Secretary of Commerce Howard Lutnick said on Sunday he believes the US can reach a trade deal with the European Union, but August 1 is still a tight deadline for the tariffs to come into effect.
Gold is often considered a safe haven asset in times of economic uncertainty and tends to benefit in a low interest rate environment. See more...
Selling pressure increases, stocks turn to decrease
The fear of missing out (FOMO) makes cash flow still participate in the market quite strongly, helping the VN-Index easily surpass the 1,500 point mark right at the opening of trading on July 21. However, it was also at this time that supply appeared massively, causing the VN-Index to lose its upward momentum, even turning around and decreasing sharply at the end of the session on July 21.
VN-Index decreased by 12.23 points, equivalent to 0.82%, to 1,485 points. Red dominated the electricity billboard with more than 200 codes down, while the number of codes up only reached 118. The VN30 basket electricity board is also in a similar situation with 17 codes down compared to 12 codes up.
Notably, the strongest selling force affecting the index is the pair of Vingroup stocks, VIC and VHM. It is estimated that these two codes alone have caused the VN-Index to "evaporate" by nearly 10 points. See more...
Creating momentum for tourism businesses to break through after the merger
Hanoians calm before storm No. 3, no longer rush to store food
Recorded some stalls in the traditional market in Me Tri area (Hanoi) on the morning of July 21, the number of customers did not increase dramatically due to the news of storm No. 3 (storm Wipha) about to make landfall.
According to Mr. Nguyen Van An, a food trader here, the price has not changed significantly: "root and fish meat are still sold at normal prices today. Customers are not buying more, their mentality is different now".
Squeezing vegetables at late afternoon, Ms. Nguyen Thi Hoa shared: I buy food to cook in the afternoon, because I have a busy afternoon. Today I found the market quite deserted, with enough vegetables and fruits to buy anything I wanted, without any product burning.
In large supermarkets such as Go Thang Long and Winmart, food stalls are still full. According to records, the prices of essential items such as ground pork are priced at 120,000 VND/kg, Pork legumes are priced at 47,000 VND/kg, pork belly is only 147,000 VND/kg, pork belly is priced at 103,000 VND/kg, cucumber is 18,000 VND/kg, baby pumpkin is 89,900 VND/kg, corn is 32,900 VND/kg... The stalls do not have the scene of people lining up or "sweeping" the stalls like before. See more...
