Information about gold not being taxed causes gold prices to drop sharply
The gold market is still waiting for the official announcement from the White House on the possibility of applying a tax on imported gold of 100 ounce and 1kg types of gold bars. However, on social media, US President Donald Trump said that the precious metal will not be subject to import tariffs.
The announcement has helped traders ease concerns after a long period of pressure from a controversial ruling by the US Customs, threatening to impose significant tariffs on imported gold.
The turmoil began when the US Customs issued a ruling that the 1kg and 100-ounce gold bars imported from Switzerland would be subject to a 39% tax. Under current US tariffs, the measure will apply to gold from any country, raising major concerns about the future of global gold trade flows. Initial information reported by the Financial Times has pushed gold futures to a new record as the market reflects the risk of strong increases in import costs.
However, the increase did not last long. After Donald Trump posted on Truth Social that gold will not be taxed, gold prices turned to decrease sharply. See more...
Purchasing power in Ho Chi Minh City recovers
Recorded at retail systems and shopping malls in Ho Chi Minh City, consumer purchasing power is showing signs of recovery. Many families take advantage of the peak promotional period to buy necessary items.
Ms. Nguyen Thi Thu Ha (residing in An Khanh ward) said that she often chooses to buy goods at supermarkets because there are many attractive discount programs. "supermarkets have reduced prices for many essential items, plus VAT has been reduced, so every time I buy a large basket of goods, I save a few hundred thousand dong. "I can both save money and buy quality goods" - Ms. Ha shared. See more...
Securities officially conquer the threshold of 1,600 points
In the trading session on the morning of August 12, continuing the excitement, the VN-Index continued to increase as soon as it opened and approached the level of 1,610 points. Strong cash flow is still the main driving force leading the market, but only from a psychological perspective, while the score has not received a corresponding contribution due to the restructuring pressure of the majority of investors, sometimes the VN-Index has had a fairly rapid decline.
However, thanks to strong bottom-fishing demand at the end of the trading session, the VN-Index officially conquered the 1,600 point mark. At the end of the trading session on August 12, the VN-Index increased by 11.36 points to 1,608 points, while the VN30 also increased by 13.35 points to a new peak of 1,755 points. Liquidity on the HOSE floor reached VND45,400 billion. See more...
Yen suddenly reverses
According to Lao Dong, on August 12, the Yen (JPY) depreciated, falling near a 1.5-week low against the USD.
The decreasing pressure comes from optimism in the global market, causing demand for the Yen - which is considered a safe-haven asset - to weaken. In addition, mixed signals from the Bank of Japan (BoJ) about the possibility of raising interest rates have also made investors cautious. See more...
