The domestic gold market in the post-Tet period came to an end in February with mixed emotions. "Soaring high and disappearing," buying at a loss, then turning a net profit after a week, has made investors feel dizzy with a mix of joy and sadness. The world gold price depends on the USD-Index, FED interest rates, and the perception of gold as a safe haven by countries and funds. But what about Vietnam?
Businesses are facing dire financial consequences with significant losses and debts multiple times higher than their equity. This puts immense pressure on preparing funds to repay both the principal and interest of bonds worth billions of dong that are due in 2024.
At the Stock Market Development Conference 2024, chaired by the Prime Minister on the morning of February 28th, Deputy Governor of the State Bank of Vietnam (SBV), Mr. Pham Thanh Ha, emphasized the significant role and importance of the development of the Stock Market for the economic growth. This is demonstrated through its support for enterprises in mobilizing capital from bond and stock issuance to meet the capital needs for investment, production, and business activities.
Currently, several bank stocks have reached new highs, such as VCB, BID, ACB, HDB, and MBB; or are approaching their historical highs like CTG and LPB.
This morning (February 29), the price of SJC gold soared by VND 400,000 per tael, reaching VND 79.3 million per tael. The price of plain round rings remains around VND 65.1 million per tael.
Accompanying the Ho Chi Minh City Night Run 2024, VPBank brings forth the value of physical and mental well-being to every runner, aiming to cheer on and foster a community that loves sports and lives a healthy lifestyle.
On February 29th, the USD price in the free market continued to surge and set a new record.
On February 29th, the price of gold in Vietnam continued to rise sharply. In particular, the selling price of SJC gold has reached nearly 80 million dong per tael, not far from the peak level achieved at the end of last year (80.3 million dong per tael).
Since the beginning of 2024, SCB Bank has closed down 6 transaction branches.
Recently, Saigon - Hanoi Insurance Corporation (BSH) has announced the official partnership with DB Insurance (South Korea). DB Insurance now holds a strategic foreign stake of 75% in BSH. This collaboration is expected to create a "golden connection" that will bring new opportunities for both companies and increase benefits for our customers in the future.