World gold price drops sharply, good opportunity to buy
The global financial market is witnessing a widespread sell-off, including precious metals, as US President Donald Trump's trade tariffs disrupt global trade and risk sending the world into recession.
Gold prices ended the week on a downward trend, testing the support level around $3,000/ounce.
However, gold is still superior to the stock market. The S&P 500 is heading for its biggest week of decline since the COVID-19 lockdown, losing nearly 500 points (equivalent to 8.7%).
Chris Vecchio, director of futures and foreign exchange strategy at Tastylive.com, said: Its no surprise that stocks are selling off so strongly, as Mr Trumps global tax rate is the biggest shock to world trade in the past 100 years.
Although gold is falling, Vecchio believes that gold is still playing a role in preventing risks. Without gold and bonds, I would have lost more. In an environment where everyone needs cash, everything is sold, but I believe gold will recover strongly after this period". See more...
Dak Lak farmers develop pepper sustainably
Details of 8 projects expected to receive $500 million in funding in Quang Ninh
According to the Quang Ninh Department of Finance, the unit that wants to sponsor is the United Nations Sustainable Development Goals Alliance (UnASDG), with a total amount of 500 million USD - which is non-refundable aid capital.
The project implementation period is expected to be 5 years, from the date of the project approval decision. Project implementation location: Ha Long City and Cam Pha City, Quang Ninh Province.
The goal of sponsoring this amount of money is to contribute to improving the ability to exploit and process aquatic products, improve fishing port infrastructure; optimize logistics activities and improve working conditions for fishermen; reduce water pollution and protect public health through an effective wastewater treatment system... See more...
The stock market needs time to find a balance
The stock market has undergone the trading week to record the strongest decline in the past 3 years, after receiving the tax information up to 46% that the US imposed on Vietnamese goods. The VN-Index in the last two sessions of the week has reduced shock of more than 100 points, but was fortunate to return to the threshold of 1,200 points when the bottom-praying force increased in the 4.4 session.
The market had a sharp decline last week, with the impact of US tariff news. However, there are still positive highlights, such as strong increase in general liquidity, creating a record trading volume, while some mineral industry codes have reversed and recorded remarkable increases.
According to the analysis of experts from PHS Securities Company, the most worrying thing is not export growth, but the impact on FDI capital flows. In fact, FDI enterprises account for more than 70% of Vietnam's total export value. Vietnam is in dire need of FDI capital to implement its strategy of rising in the new era as well as reduce foreign currency dependence on trade. See more...
