Gold prices plummet but the long-term uptrend remains unchanged
Currently, some analysts note that gold's support above $3,300/ounce shows potential strength in the market, even as the cattle side faces difficulties.
Lukman Otunuga - Senior market analyst at FXTM said: "Gold is still dominating below 3,400 USD/ounce. Purchasers may counterattack, but prices need to push above $3,360/ounce and above $3,400/ounce."
Although the labor market is slowing, economists believe that the latest non-farm payrolls report will not force the US Federal Reserve (FED) to cut interest rates...
Tom Bruce - Macro Investment Strategist at Tanglewood Total Wealth Management, said that although gold seems comfortable trading within a range, resisting at 3,400 USD/ounce and supporting at 3,200 USD/ounce, investors should look to add gold to their portfolios when prices go lower.
In the end, the uptrend remains the same as we continue to see strong investment demand. Even without a driver for price increases, gold could still increase as central banks continue to buy and diversify away from the US dollar," he said. See more...
Gasoline price forecast to decrease next week
The US Department of Labor's monthly employment report shows that the unemployment rate remains stable at 4.2% and employers have created 139,000 more jobs, despite a downward adjustment to last month's figures, reflecting a slight decrease in labor demand. Compared to last year, the average monthly job increase was 160,000.
In addition, the oil market is still strongly affected by tariff negotiations and trade instability, increasing the impact of the US's tariff policies on the global economy.
According to a representative of a petroleum business, domestic petroleum prices will fluctuate according to the world petroleum situation. According to current market developments, it is forecasted that in the next price management period, retail prices of gasoline may have opposite adjustments, in the direction of decreasing gasoline prices and increasing oil prices. See more...
Summer tourism is bustling, Can Tho promotes tours, optimizes costs
More than 3,500 Da Nang enterprises temporarily suspend operations
According to the Da Nang City Statistics Office, from the beginning of the year to May 25, Da Nang has had positive growth in business registration and investment capital attraction. In May, the city issued new licenses to 333 enterprises with a total registered capital of VND 957 billion, up 2.7% and 28.8% respectively over the same period in 2024.
In the first 5 months of the year, this figure is 1,719 enterprises with a total capital of VND 5,580 billion, an increase of 0.4% in quantity and 4% in capital...
However, Da Nang's economy still has worrying points. The number of enterprises returning to operation decreased by 10.5% compared to the same period last year. In particular, the number of enterprises temporarily suspended operations increased sharply by 15.1% to 3,588. See more...
