Economic and market news on April 16, 2024: Gold price continues to "skyrocket"

Economic and market news on April 15, 2024: Tensions in the Middle East continue, how will it affect gold prices? Gold price today April 16, 2024: Domestic and world gold prices continue to rise

Gold price today

World gold prices today (April 16) increased sharply, with spot gold increasing by 41.3 USD to 2,382 USD/ounce. Gold futures prices last traded at 2,400 USD/ounce, up 39.9 USD compared to early yesterday morning.

Điểm tin kinh tế - thị trường ngày 16/4/2024: Giá vàng tiếp tục “phi mã”

Gold price continues to soar on the morning of April 16

Domestically, at 9am this morning, the price of SJC brand gold bars was listed at VND81.80 million/tael for buying and VND84.20 million/tael for selling. Compared to early yesterday morning, the price of SJC gold was adjusted up by more than VND1 million for buying and VND1 million for selling. The price of gold rings was also listed at VND75.56 million/tael for buying and VND77.26 million/tael for selling.

USD price sets new record

Early this morning, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD increased by 14 VND, currently at 24,096 VND.

Meanwhile, in the US market, the US Dollar Index (DXY) measuring the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) increased by 0.14% to 106.18.

In a reverse move, the euro hit $1.0622, its lowest since November 3, 2023, and closed down 0.18% at $1.0623.

Complete planning of 30 airports by 2025

In the work of establishing and adjusting airport planning, the planning of 30 airports will be completed in the 2021-2025 period. Of these, 14 are international airports: Van Don, Cat Bi, Noi Bai, Tho Xuan, Vinh, Phu Bai, Da Nang, Chu Lai, Cam Ranh, Lien Khuong, Long Thanh, Tan Son Nhat, Can Tho and Phu Quoc.

In addition, 16 domestic airports: Lai Chau, Dien Bien, Sa Pa, Na San, Dong Hoi, Quang Tri, Phu Cat, Tuy Hoa, Pleiku, Buon Ma Thuot, Phan Thiet, Rach Gia, Ca Mau, Con Dao, Thanh Son and Bien Hoa.

It is expected that in the period of 2026-2030, research and planning of Cao Bang Airport, the second airport in the capital region, and Hai Phong International Airport will be completed.

Agreed to increase regional minimum wage from July 1

The Ministry of Home Affairs has agreed with the Ministry of Labor, War Invalids and Social Affairs on the time of increasing the minimum wage in 2024 on July 1. Specifically, the minimum wage will be adjusted based on the minimum living standards of workers and their families; the correlation between the minimum wage and the market wage; the consumer price index, economic growth rate; the relationship between labor supply and demand; employment and unemployment; labor productivity; and the payment capacity of enterprises.

Previously, at the end of March 2024, the Ministry of Labor, War Invalids and Social Affairs drafted a Decree on minimum wages for employees working under labor contracts. The Ministry of Labor, War Invalids and Social Affairs proposed monthly minimum wages and hourly minimum wages for employees working for employers by region.

Accordingly, the Ministry of Labor, War Invalids and Social Affairs proposed that the Government adjust the monthly minimum wage levels according to 4 regions: Region I: 4,960,000 VND/month; Region II: 4,410,000 VND/month; Region III: 3,860,000 VND/month; Region IV: 3,450,000 VND/month.

The Ministry of Labor, War Invalids and Social Affairs also proposed that the minimum hourly wage be adjusted to increase according to 4 regions: Region I: 23,800 VND/hour; Region II: 21,200 VND/hour; Region III: 18,600 VND/hour; Region IV: 16,600 VND/hour.

Gold auction expected to be held this week

The State Bank is expected to hold its first gold auction in 11 years this week. The State Bank will send out notices one day before the auction. After announcing the floor price, credit institutions and gold trading enterprises will begin filling out bids.

Bidders have 30 minutes to decide on the volume and purchase price. One hour after the bid closing date, the State Bank will announce the results. Enterprises will have to deposit to participate in the bidding, no later than 5:00 p.m. on the day of receiving the bid notice.

There are currently 26 units, including commercial banks and gold trading enterprises, establishing gold bar trading relationships with the State Bank. Up to this point, there are about 15 units qualified to participate in the bidding. The type of gold put up for bidding is SJC gold bars.

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