| Economic and market news on March 14, 2024: Domestic gold price turns to increase again Gold price today March 15, 2024: SJC gold reverses to increase strongly, world price slightly decreases |
Domestic gold price today
In the early morning of March 15, the world gold price decreased slightly, with spot gold down 12.1 USD to 2,161.4 USD/ounce. Gold futures last traded at 2,166.5 USD/ounce, down 14.3 USD compared to the early morning yesterday.
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| Gold prices have fluctuated erratically in recent days. |
The world's yellow metal prices reversed to fall as the market received more disappointing inflation data. The latest report showed that inflation in the US increased slightly higher than expected, helping the US Dollar Index recover and US Treasury bond yields increase.
Domestically, gold prices have fluctuated erratically over the past two days. At 8am this morning, SJC gold was listed at VND79.60 million/tael for buying and VND81.50 million/tael for selling.
In recent days, gold rings have been of more interest to many people. At Bao Tin Minh Chau, the price of gold rings is currently trading around 68.43 million VND/tael for buying and 69.83 million VND/tael for selling.
World oil prices increase sharply
Recorded on Oilprice at 4:30 this morning (Vietnam time), WTI oil price was at 81.08 USD/barrel, up 1.93% (equivalent to an increase of 1.54 USD/barrel).
At the end of the trading session on March 14, oil prices continued to increase by nearly 2% to a four-month high as the International Energy Agency (IEA) predicted that the market would tighten and increase oil demand growth this year.
Brent crude for May delivery rose $1.39, or 1.7%, to $85.42 a barrel - its highest close since November 6, 2023. Similarly, U.S. West Texas Intermediate (WTI) crude for April delivery rose $1.54, or 1.93%, to $81.08 a barrel - its highest close since early November 2023.
The domestic retail price of gasoline and oil today was also adjusted by the Ministry of Finance - Industry and Trade in the price adjustment session on the afternoon of March 14. Accordingly, gasoline prices decreased slightly with E5 RON 92 gasoline down 22 VND/liter, RON 95-III gasoline down 14 VND/liter. Oil prices were adjusted higher with the highest increase of 299 VND/kg for fuel oil. Diesel oil increased 78 VND/liter and kerosene increased 97 VND/liter.
In this operating period, the joint ministries did not set aside and did not spend the Price Stabilization Fund for most types of gasoline and oil, except for fuel oil, which cost 300 VND/liter.
Bond debt payable in 2024 will exceed VND 279,000 billion
The primary corporate bond market declined in February with a total issuance value of only VND1,165 billion, down 46% compared to the previous month. KBSV Securities analysts believe that the issuance volume will improve in the second half of the year when the economy warms up, the real estate market recovers and bottlenecks in the corporate bond market are gradually removed.
However, regarding debt repayment pressure, KBSV estimates that in 2024, there will be about VND 279,000 billion of bonds maturing, of which more than VND 115,000 billion are real estate corporate bonds (accounting for 41.4%), followed by the group of financial institutions with more than VND 81,000 billion (accounting for 29%).
In March alone, it is estimated that about VND23,000 billion worth of bonds will mature. Of which, the real estate group accounts for 63%, the trade and service group accounts for 10% and the construction group accounts for 9%.
Early season plums 300,000 VND/kg
Each kilogram of Son La plums, 18-25 fruits, is currently sold at many stores for 300,000 VND/kg. In Hanoi, since the beginning of March, many stores have started importing and selling early-season plums. Each kilogram of grade 1 (18-25 fruits) costs 300,000 VND; grade 25-35 fruits costs 250,000-270,000 VND. Grades 2 and 3 are from 80,000-130,000 VND/kg. This is an increase of about 5% compared to the same period last year.
Son La is a famous plum growing area, with an area of over 11,730 hectares. During this time, the off-season plum harvest of each garden is about a few dozen kilograms to a quintal per day, plus increased care costs, so the price is high.
Earning 2.9 billion USD from selling wood chips and pellets
In 2023, Vietnam will earn 2.9 billion USD from selling wood chips and pellets to China, Japan, and South Korea. Currently, these two products are exported to 13 countries and territories. China and Japan are the two largest import markets of Vietnam, accounting for 92.4% of total output and 92.2% of total export value.
The 2023 wood industry report shows that, in addition to key wood products, wood chips and pellets contribute significantly to the industry. Specifically, Vietnam exported nearly 14.4 million tons of wood chips, reaching 2.2 billion USD, accounting for 16.8% of the total export turnover of the wood industry. Similarly, with wood pellets, Vietnam exported 4.67 million tons, worth nearly 700 million USD, accounting for 5.2% of the total turnover of the industry.
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