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Tag: prices

  • Record-Breaking Silver Prices in Vietnam Surge Amid Global Safe-Haven Demand

    Record-Breaking Silver Prices in Vietnam Surge Amid Global Safe-Haven Demand

    On Monday morning, silver prices in Vietnam hit an all-time high as global demand for safe-haven assets surged. The price of Phu Quy silver jumped 6% to VND4.24 million (US$162) per tael, equivalent to VND112.8 million per kilogram.

    Silver Prices Surge in Vietnam

    Since the start of the year, the cost of this white metal in Vietnam has seen an increase of 35%. This rise parallels a global trend, where the price of spot silver increased by 4.57% to $107.65 per ounce. This sharp increase comes after it hit an unprecedented high of $108.60 per ounce. The escalation can be attributed to investors seeking refuge in safe-haven assets due to escalating geopolitical uncertainties.

    Silver Crosses the $100 Mark

    On Friday, silver prices exceeded the $100 mark for the first time ever. This rise builds on last year’s significant increase of 147%. The astounding growth is a result of an influx of retail investors and momentum-driven purchases, exacerbating a longstanding period of scarcity in the physical markets for silver.

    Questions & Answers

    What is a safe-haven asset?
    A safe-haven asset is a type of investment that is expected to hold or increase its value during market turbulence. These assets are typically sought after by investors to limit their exposure to losses during market downturns.

    What caused the surge in silver prices in Vietnam?
    The surge in silver prices in Vietnam can be attributed to an increase in global demand for safe-haven assets, as well as geopolitical uncertainties.

    What factors contributed to silver prices crossing the $100 mark?
    The surge beyond the $100 mark was driven by an influx of retail investors and momentum-driven purchases, which intensified an already present scarcity in the physical markets for silver.

  • Gold Prices Skyrocket Globally and in Vietnam: Impact of US Tariffs and Market Jitters

    Gold Prices Skyrocket Globally and in Vietnam: Impact of US Tariffs and Market Jitters

    On Tuesday afternoon, the price of gold in Vietnam hit a new historical high as global rates also achieved unprecedented levels. The price of a gold bar from Saigon Jewelry Company rose by 0.67%, reaching VND166.1 million (US$6,324.12) per tael, equivalent to approximately 37.5 grams or 1.2 ounces.

    The price of a gold ring similarly increased by 0.80%, costing VND163.5 million per tael. Since the start of the year, gold prices in Vietnam have seen an 8.7% increase.

    Internationally, the situation mirrored Vietnam’s, with gold surpassing $4,700 per ounce for the first time on Tuesday. Concurrently, silver traded near a record high. This sharp increase in precious metal prices can be attributed to the heightened global tension due to the threats by U.S. President Donald Trump of imposing additional tariffs on European allies. This political unrest has led to a surge in investment in safe-haven assets such as gold and silver.

    The spot price of gold rose by 1%, reaching $4,717.03 per ounce after achieving a record high of $4,721.91 earlier in the day. U.S. gold futures for February delivery also saw a significant increase, rising by 2.8% to $4,722.70 per ounce.

    Since the commencement of President Trump’s second term a year ago, gold prices have rallied more than 70%. Similarly, silver has seen a remarkable surge of more than 200%.

    Questions & Answers

    What caused the surge in gold prices?
    The surge in gold prices can be attributed to the heightened global tension due to U.S. President Donald Trump’s threats of imposing additional tariffs on European allies, sparking a rush into safe-haven assets like gold and silver.

    How much did gold prices in Vietnam increase?
    The price of a gold bar from Saigon Jewelry Company rose by 0.67%, reaching VND166.1 million (US$6,324.12) per tael. Since the start of the year, gold prices in Vietnam have seen an 8.7% increase.

    What has been the effect on silver prices?
    Similar to gold, silver has also seen a significant increase in value. It traded near a record high and has seen a surge of more than 200% since the start of President Trump’s second term a year ago.

  • New Zealand Dairy Farmers Rejoice: Global Demand Triggers a 6.3% Surge in Dairy Prices

    New Zealand Dairy Farmers Rejoice: Global Demand Triggers a 6.3% Surge in Dairy Prices

    Cattle farmers in New Zealand have been given a much-needed boost as the Global Dairy Trade (GDT) announced a rise in pricing in its most recent index.

    On the 6th of January, the GDT conducted its latest auction, which resulted in dairy prices experiencing a 6.3% surge. Leading the pack were whole milk prices, which showed a 7.2% jump. This was followed by skim milk, which increased by 5.4%, and finally, butter, which saw a 3.8% upturn.

    After reaching a peak in early March of 2025, dairy prices had been on a steady decline. The current upward trend is a response to an increase in demand, according to the GDT.

    The GDT holds its sales events bi-monthly, attracting an international pool of bidders. These events are an opportunity for the GDT to implement its ‘price discovery process’. This complex mechanism calculates accurate price levels for global dairy products by considering factors such as supply, demand, and bidding.

    New Zealand’s primary export remains dairy products. The country’s largest dairy markets are China, Australia, and the United States.

    Questions & Answers

    How much did dairy prices increase in the latest GDT auction?
    Dairy prices rose by 6.3% in the most recent GDT auction. Whole milk saw the largest increase with a 7.2% surge, followed by skim milk at 5.4% and butter at 3.8%.

    What is the ‘price discovery process’ implemented by the GDT?
    The ‘price discovery process’ is a sophisticated system used by the GDT to determine accurate price levels for the world’s dairy products. It takes into account factors like supply, demand, and bidding.

    What are New Zealand’s largest dairy export markets?
    New Zealand’s most substantial dairy export markets are China, Australia, and the United States.

  • Singapore Jewelers Reinvent Amid Gold Boom: Rising Prices Shift Consumer Focus to Investment Grade Gold

    Singapore Jewelers Reinvent Amid Gold Boom: Rising Prices Shift Consumer Focus to Investment Grade Gold

    In response to shifting consumer preferences and soaring prices, Singapore-based gold jewelers are rethinking their strategies. They are updating designs and adjusting prices to attract customers, as the demand for gold jewelry takes a hit from a growing interest in investment gold.

    Declining Demand for Gold Jewelry

    Kim Poh Hong Goldsmith, a longstanding family-owned jeweler, revealed in mid-October that demand for its 22-karat gold jewelry had dropped by an approximate 30-40% in the preceding two months. Rising prices have made it more challenging to sell these traditionally favored items in the Asian marketplace. Susan Tan, the owner, stated that they had significantly reduced their orders from wholesalers in response to this decline.

    Recently, retailers throughout the city-state have noticed that even seasonal demand has been tepid, as consumers become increasingly price-conscious. Many customers appear to be taking advantage of the surging gold prices by selling or trading in their old jewelry pieces.

    Gold Prices Surge

    In the backdrop of geopolitical tensions and a rate-easing cycle by the U.S. Federal Reserve, the price of gold soared by 64% last year. This was further fuelled by sustained purchases by central banks and inflows into exchange-traded funds. Gold even broke multiple records, with its value reaching an unprecedented US$4,549.71 per ounce on December 26, 2025. Industry analysts anticipate that the prices will remain elevated this year.

    The steep climb in bullion prices has significantly boosted the demand for gold bars and coins in Singapore. Their demand soared by 47% year-on-year to 1.8 tonnes in the third quarter of 2025. However, there has been an 8% slide in the city-state’s gold jewelry consumption, which fell to 1.4 tonnes during the same period. Even in India and China, the world’s two largest gold-consuming countries, there was a drop in gold jewelry purchases by volume by 31% and 18%, respectively.

    According to the World Gold Council, the high gold prices were primarily responsible for this decline as they impacted affordability.

    Investment Gold Rising

    Ho Nai Chuen, the president of the Singapore Jewellers Association and managing director of On Cheong Jewellery, noted that investment-grade gold bars, also known as Investment Precious Metals, are exempt from the Goods and Services Tax. This exemption has led some consumers to opt for gold bars instead of gold jewelry, as a means to conserve their monetary value.

    As gold prices continue to deter purchases, retailers are now compelled to strike a balance between keeping their products affordable and maintaining their design appeal. Chong Cui Xin, a merchandising manager at G&J Goldsmiths & Jewellery, shared that customers are favoring lighter pieces. The jewelry store has been introducing necklaces and bracelets weighing less than 3g to make them more wallet-friendly for consumers.

    Joanne Sim, co-founder and designer of Eli J Fine Jewelry, expressed similar sentiments. She mentioned that the company had to rethink its pricing strategy as an increasing number of buyers are now choosing lower-priced 14-karat gold jewelry. For those customers who prefer white gold, the brand offers platinum as a more affordable alternative.

    Despite the changes, these jewelers continue to reserve 18-karat gold for heirloom-quality pieces, maintaining their commitment to quality and tradition.

    Questions & Answers

    Why are gold jewelers in Singapore adjusting their prices and designs?
    Gold jewelers in Singapore are adjusting their prices and designs to attract customers, as demand for gold jewelry is decreasing due to a growing preference for investment-grade gold and rising gold prices.

    What is the impact of high gold prices on the jewelry market?
    High gold prices have resulted in a decrease in demand for gold jewelry due to affordability issues. However, it has also led to a significant increase in the demand for gold bars and coins, which are being viewed as investment-grade gold.

    How are jewelers responding to changes in consumer preferences?
    Jewelers are responding by introducing lighter and more affordable pieces, such as jewelry weighing less than 3g, and offering alternatives such as platinum for customers who prefer white gold. They are also focusing on maintaining the design appeal of their products.

  • Vietnam’s Gold Prices Skyrocket Amid Global Market Uncertainties: A 83% YoY Leap

    Vietnam’s Gold Prices Skyrocket Amid Global Market Uncertainties: A 83% YoY Leap

    The price of gold in Vietnam experienced a significant surge on Tuesday morning, propelled by the precious metal’s global market gains and political uncertainties.

    Surge in Gold Prices

    Saigon Jewelry Company reported a 0.57% increase in the price of its gold bars, reaching VND158 million (US$6,011.49) per tael. A tael, a unit of weight commonly used in East Asia, is equivalent to 37.5 grams or 1.2 ounces.

    In addition to the rise in price of gold bars, the price of gold rings also saw a notable increase, jumping by 0.39% to VND154 million per tael. Over the past year, the price of gold in Vietnam has soared by 83%.

    Global Impact

    On a global scale, gold prices reached a one-week high following the U.S. strikes in Venezuela, which further enhanced the safe-haven appeal of bullion. Spot gold, or gold that is bought and sold for immediate delivery, saw an increase of 0.39% to $4,465.50 per ounce.

    According to Alexander Zumpfe, a precious metals trader at Heraeus Metals Germany, the situation in Venezuela has clearly stimulated safe-haven demand. This comes in addition to existing concerns related to geopolitics, energy supply, and monetary policy.

    Gold saw a remarkable 64% gain last year, driven by geopolitical flashpoints and the U.S. Federal Reserve’s cycle of easing interest rates. Expectations of even lower rates, combined with central bank purchases and Exchange-Traded Fund (ETF) flows, provided further support to gold’s rising prices.

    Questions & Answers

    What caused the rise in gold prices in Vietnam?
    The rise in gold prices in Vietnam was primarily driven by the precious metal’s global market gains and ongoing political uncertainties.

    How much did gold prices increase globally?
    Globally, spot gold experienced an increase of 0.39% to $4,465.50 per ounce.

    What factors contributed to the 64% gain in gold prices last year?
    The remarkable 64% gain in gold prices last year was propelled by geopolitical flashpoints, the U.S. Federal Reserve’s cycle of easing interest rates, and the expectation of even lower rates. Central bank purchases and ETF flows also provided additional support.

  • Vietnam Gasoline Prices Tumble: Global Market Shifts Trigger Unexpected Fuel Cost Decline

    Vietnam Gasoline Prices Tumble: Global Market Shifts Trigger Unexpected Fuel Cost Decline

    On Thursday, Vietnam witnessed a decrease in gasoline prices, continuing the downward trend from the previous week, in line with the global slump in fuel costs. The nation’s common fuel, RON95, experienced a 3.16% decrease, bringing it down to VND19,000. Meanwhile, Biofuel E5 RON92 saw a reduction of 2.7%, lowering its price to VND18,710.

    Diesel Cost Also Declines

    Diesel, another commonly used fuel, wasn’t immune to the trend. The fuel’s price also tapered off, albeit at a slower pace. The cost of diesel fell by 1.26%, bringing it to VND17,250.

    Global Oil Market Influences

    The global oil market has been volatile over the past week. This volatility has been shaped by a number of geopolitical factors, including the potential for a peace agreement between Russia and Ukraine, as well as ongoing tensions between the U.S. and Venezuela. These factors have influenced fuel prices worldwide, including in Vietnam.

    Notably, the price of RON95 on the global market dropped by 4.1%, settling at $74.4 per barrel. Meanwhile, diesel saw a slightly smaller decrease of 1.5%.

    Questions & Answers

    What caused the drop in Vietnam’s fuel prices?
    The decline in fuel prices in Vietnam is a reflection of the global drop in fuel costs, influenced by factors such as potential peace talks between Russia and Ukraine and tensions between the U.S. and Venezuela.

    Which fuels have been most affected?
    The common fuel RON95 saw a significant decrease of 3.16%, while Biofuel E5 RON92 fell by 2.7%. Diesel also saw a decrease, though it was smaller, at 1.26%.

    What were the global price changes for these fuels?
    On the global market, RON95 dropped 4.1% to $74.4 per barrel, while the price of diesel fell by 1.5%.

  • Vietnam’s Gasoline Prices Surge Amid Global Market Tensions, While Diesel Hits Six-Week Low

    Vietnam’s Gasoline Prices Surge Amid Global Market Tensions, While Diesel Hits Six-Week Low

    The cost of gasoline experienced a slight rise on Thursday afternoon, while the price of diesel continued to experience a significant decline. The widely used fuel, RON95, saw an increase of 2.3% from the previous week, resulting in a new price per litre of VND20,460, equivalent to USD 0.78.

    Biodiesel E5 RON92 saw a moderate increase of 2.8%, bringing its price to VND19,820. Contrary to the aforementioned fuels, diesel experienced a drop in price, falling 3% to VND18,890. This price marks the lowest cost for diesel in the last six weeks.

    Global Market Impact

    The global petroleum market has been influenced by various factors over the past week. Notably, escalating tensions between the U.S. and Venezuela have thrown this market into fluctuation. In addition to this, the inability of the U.S. and Russia to negotiate a resolution to the ongoing conflict in Ukraine has further affected the market, according to the Ministry of Industry and Trade.

    The price of RON95 increased by 2.9%, reaching $81.9 per barrel. Meanwhile, diesel prices fell by 2.7% to $86.1 per barrel.

    Questions & Answers

    What is the new price of RON95 and diesel?
    The new price of RON95 is USD 0.78 per litre, while diesel has fallen to VND18,890, equivalent to $86.1 per barrel.

    What factors have influenced the global petroleum market recently?
    The escalating tensions between the U.S. and Venezuela, and the ongoing conflict in Ukraine due to the failed agreement between the U.S. and Russia are the main factors influencing the global petroleum market.

    How has the price of biodiesel E5 RON92 changed?
    Biodiesel E5 RON92 has seen a moderate increase of 2.8%, resulting in a new price of VND19,820.

  • Gasoline Prices in Vietnam Hit 5-Week Low: Global Factors and Market Shifts Explained

    Gasoline Prices in Vietnam Hit 5-Week Low: Global Factors and Market Shifts Explained

    As of Thursday afternoon, gasoline prices in Vietnam have reached their lowest point since October 23rd. The commonly used fuel, RON95, fell by 2.63% to VND20,000 (equivalent to US$0.76) per liter.

    Decreased Prices Across Fuel Types

    Along with RON95, the biofuel E5 RON92 saw a reduction in price of 2.63%, bringing the cost per liter to VND19,280. Diesel prices took a more significant hit, with prices plunging 5.15% to VND18,800.

    Global Factors Influencing Prices

    The worldwide gasoline market has been impacted by a variety of factors over the past week. One such factor was a proposal by U.S. President Donald Trump aiming to resolve the military conflict between Russia and Ukraine, as reported by Vietnam’s Ministry of Industry and Trade.

    Additionally, a decrease in U.S. crude oil inventories, accompanied by a rise in gasoline and diesel supplies, also played a role in the reduction of prices.

    Impact on Barrel Prices

    The price of RON95 per barrel also experienced a decrease, dropping 3.4% to $79.6. Diesel prices per barrel fell by an even larger margin, at 6.2%.

    Questions & Answers

    What has caused the recent drop in gasoline prices in Vietnam?
    The decrease in prices is due to a variety of factors, including a proposal by the U.S. President to end the military conflict between Russia and Ukraine, as well as an increase in gasoline and diesel supplies in the U.S.

    By what percentage have RON95 and diesel prices fallen?
    RON95 prices fell by 2.63%, while diesel prices plunged 5.15%.

    What is the current price of a barrel of RON95 and diesel?
    The price of a barrel of RON95 has fallen to $79.6, while the price of a barrel of diesel has decreased by 6.2%.

  • Vietnam’s Gold Prices Skyrocket to 3-Week High Amid Global Rate Surge and U.S. Government Resumption

    Vietnam’s Gold Prices Skyrocket to 3-Week High Amid Global Rate Surge and U.S. Government Resumption

    The price of gold in Vietnam saw a significant increase on Tuesday, reaching its peak since October 21st. This uptick was reflective of a global surge in gold prices, spurred by the anticipation of the U.S. government’s resumption.

    Saigon Jewelry Company reported a 1.20% increase in their gold prices, now standing at VND152 million (US$5,777.28) per tael. A tael, a common unit of measurement used in East Asia, equates to 37.5 grams or 1.2 ounces.

    Rise in Gold Jewelry Prices

    In line with the increase in gold prices, the cost of gold rings also saw a rise of 1.35%, now costing VND149.8 million per tael. So far this year, the price of gold in Vietnam has surged by a substantial 80.5%.

    Global Gold Rates

    Internationally, gold prices have been on a steady upward trend, reaching near three-week highs on Tuesday. These gains are believed to be influenced by expectations of another U.S. Federal Reserve interest rate cut in December, as well as indications of an end to the U.S. government shutdown.

    The price of spot gold also increased by 0.7%, reaching $4,142.83 per ounce, its highest since October 24th.

    Impact of U.S. Government Shutdown

    The U.S. Senate recently passed a deal to restore U.S. federal funding, marking an end to the longest government shutdown in history. This shutdown led to delays in key economic indicators, such as the U.S. non-farm payrolls report.

    The end of the shutdown is expected to provide more clarity on the U.S. economic outlook as well as the Federal Reserve’s interest rate trajectory. It is believed that the resolution of the shutdown has lifted a level of uncertainty, allowing markets to refocus on major speculative narratives for the year.

    According to Ilya Spivak, head of global macro at Tastylive, the upside is still favored for the rest of the year. With the path of least resistance for gold trending back to October’s high, it is anticipated that prices may continue to rise thereafter.

    Questions & Answers

    What caused the recent surge in gold prices in Vietnam and globally?
    Anticipation of the resumption of the U.S. government and expectations of another U.S. Federal Reserve interest rate cut in December are believed to have spurred the recent surge in gold prices.

    How has the U.S. government shutdown impacted the gold market?
    The U.S. government shutdown led to delays in key economic indicators, creating a level of uncertainty in the market. With the resolution of the shutdown, this uncertainty has been lifted, allowing markets to refocus and consequently affecting gold prices.

    What is the outlook for gold prices for the rest of the year?
    According to experts, the upside is still favored for the rest of the year, with potential for prices to continue rising.

  • Vietnam Gold Prices Tumble Despite Global Stability: A Detailed Analysis Amid US Interest Rate Speculations

    Vietnam Gold Prices Tumble Despite Global Stability: A Detailed Analysis Amid US Interest Rate Speculations

    On Tuesday morning, the price of gold in Vietnam dropped, even as global rates remained stable. A notable drop was seen in the gold bar from Saigon Jewelry Company, which decreased by 0.53%, making its current price VND148.2 million (US$5,628.34) per tael.

    Changes in Local and Global Gold Prices

    There was also a decrease in the price of gold rings, with rates falling by 0.34%, establishing a current price of VND145.9 million per tael of 37.5 grams, or 1.2 ounces. Despite such recent drops, there has been a significant increase in the price of gold in Vietnam throughout the year, with a surge of 76% observed so far.

    On a global scale, gold prices remained largely unchanged as investors anticipated the U.S. private payroll data expected to be released later this week. This data is critical in assessing the potential for an additional interest rate cut from the U.S. Federal Reserve this year.

    Stability in Spot Gold Prices

    Spot gold displayed minimal changes, maintaining a steady rate at $3,993.10 an ounce. Edward Meir, an analyst at Marex, suggests that gold is in the process of establishing a trading range, potentially in the high 3000s to the mid-4000s. This range is considered a consolidation following a significant move in prices.

    Despite a sharp increase of 53% this year, there has been an 8% decrease in the price of the metal from the record high that was observed on October 20th. Ole Hansen, the head of commodity strategy at Saxo Bank, commented on the current trend in gold prices. He noted, “Gold’s pause still looks like a breather, not a breakdown. Seasonal softness, temporary Chinese policy noise, and a firmer dollar explain the short-term retreat, but none change the longer-term narrative.”

    Questions & Answers

    What is the current price for Saigon Jewelry Company’s gold bar?
    The current price for Saigon Jewelry Company’s gold bar is VND148.2 million (US$5,628.34) per tael.

    By how much has the price of gold in Vietnam increased this year?
    The price of gold in Vietnam has seen a substantial increase of 76% this year.

    What factors are contributing to the current global gold price trend?
    Several factors, including seasonal softness, temporary Chinese policy noise, and a stronger dollar, are contributing to the short-term retreat in global gold prices. However, these do not influence the longer-term narrative.

  • Rocketing Fuel Prices: Gasoline Hits 6-Week High in Vietnam Amid Global Oil Market Turmoil

    Rocketing Fuel Prices: Gasoline Hits 6-Week High in Vietnam Amid Global Oil Market Turmoil

    Gasoline prices in Vietnam experienced an unprecedented surge on Thursday, reaching their highest levels since September 18. The widely used fuel RON95 skyrocketed by 3.85%, now costing VND20,480 (equivalent to US$0.78) per liter.

    Increases Across Fuel Types

    This upward trend was not exclusive to RON95. Biofuel E5 RON92 also saw a significant rise of 3.73%, now priced at VND19,760 per liter. Additional increases were noted in diesel prices, which escalated by 7.38% to reach VND19,200 per liter, marking the highest diesel prices since July 1.

    Global Influences on Oil Market

    Several international factors influenced the global oil market over the past week, prompting these price increases. One such factor is the U.S. government’s imposition of sanctions on Russia’s two largest oil and gas corporations. Other influential factors include the recent U.S. trade negotiations with India and China, as well as the projected rise in oil production by OPEC+ in December.

    The wholesale prices of these fuels have also been affected. RON95’s price per barrel has risen by 5.1% to stand at $82.2, while diesel’s price per barrel increased by 8.9% to reach $90.94.

    Questions & Answers

    What has caused the recent surge in gasoline prices in Vietnam?
    Multiple factors have contributed to the recent surge in gasoline prices, most notably international influences such as U.S. sanctions on Russia’s largest oil and gas corporations, recent U.S. trade negotiations with India and China, and expected production increases by OPEC+ in December.

    What fuels have been affected by the price increase?
    The price increase has affected multiple fuel types, including the widely used RON95, Biofuel E5 RON92, and diesel.

    How have wholesale fuel prices been impacted?
    Wholesale prices for fuels like RON95 and diesel have also seen significant increases. The price per barrel for RON95 has risen by 5.1% to $82.2, while diesel’s price per barrel has increased by 8.9% to reach $90.94.

  • Philippines Contemplates Major Gold Sell-Off Amidst Skyrocketing Prices and ‘Excessive’ Reserves

    Philippines Contemplates Major Gold Sell-Off Amidst Skyrocketing Prices and ‘Excessive’ Reserves

    The central bank of the Philippines, Bangko Sentral ng Pilipinas (BSP), is currently considering whether to hold onto or sell a portion of its substantial gold reserves. This comes following comments from Benjamin Diokno, a member of the bank’s Monetary Board and former governor, who noted that gold prices are likely to decrease from their record heights.

    Decisions on Gold Reserves

    In a recent interview, Diokno raised the idea of the BSP selling some of its “excessive” gold reserves to turn a profit. He pointed out that gold comprises around 13% of the bank’s gross international reserves, a percentage that is significantly higher than other central banks in the region. The ideal range, according to Diokno, should fall between 8-12%.

    The total reserves of the BSP, amounting to nearly US$109 billion, include gold, foreign exchange, foreign-denominated securities, and other assets.

    Gold Prices and Past Decisions

    The Philippines amassed a significant amount of its gold reserves when prices were situated near $2,000 per ounce. Since this point, the value of gold has more than doubled, reaching a record peak of $4,381.21 on October 20. Following this peak, prices fell below $4,000 as investors capitalized on the easing of geopolitical tensions and chose to make a profit.

    Despite the current uncertainty surrounding the future of gold prices, Diokno posed the question, “Shouldn’t you sell already? What will happen if the price goes down?”

    Even with a recent dip, the value of gold has increased by 52% since the beginning of the year, partly due to substantial purchases made by central banks. Predictions for the future of gold prices vary, with some analysts expecting a further decline while others anticipate new record highs.

    Public Criticisms and Future Considerations

    In the past, the BSP faced backlash for selling a portion of its gold reserves in 2024 before prices experienced a substantial surge. However, Governor Eli Remolona Jr. defended this decision, arguing that the sale was spurred by sound portfolio management strategies, rather than an attempt to exploit market conditions.

    Remolona explained that the decision to sell the gold arose after its share in the reserves exceeded the ideal ratio. He maintained that the bank does not seek to predict gold prices, nor does it base its decisions on such predictions. The bank’s priority is to maintain a balanced portfolio.

    The BSP has previously noted that gold often acts as a hedge against price declines in other reserve assets. However, the bank also acknowledged that gold prices can be volatile, yield little interest, and incur storage costs.

    Questions & Answers

    Why is the Philippine central bank considering selling its gold reserves?
    The BSP is exploring this option due to suggestions that the bank’s gold holdings are “excessive.” As gold prices are currently at a record high, the bank could make a significant profit by selling a portion of its reserves.

    What percentage of the bank’s gross international reserves is made up of gold?
    Approximately 13% of the BSP’s gross international reserves is comprised of gold. According to former governor Benjamin Diokno, the ideal range should be between 8-12%.

    What factors influence the central bank’s decision to sell its gold reserves?
    Decisions to sell gold reserves are driven by portfolio management strategies rather than the anticipation of future market conditions. The bank aims to maintain a balanced and profitable portfolio.

  • Chagee Holdings Stands Firm On Premium Pricing Amid Falling Sales And Rising Competition

    Chagee Holdings Stands Firm On Premium Pricing Amid Falling Sales And Rising Competition

    Chinese beverage company Chagee Holdings is maintaining its focus on premium products, even in the face of falling sales and profits as customers turn to more affordable competitors. The company’s co-founder, Shang Xiangmin, stated in a recent interview, “We haven’t been fully engaged in the price wars. Price wars may be a way to compete but we want to stick to our long-term strategy to build a premium brand.”

    Unchanged Pricing Strategy Amidst Competition

    Despite the growing competition from domestic companies like Luckin Coffee and Mixue Group, who are offering subsidized, deeply discounted beverages, Chagee Holdings remains firm on its pricing strategy. These competitors have teamed up with China’s tech giants to sell drinks at a fraction of Chagee’s price.

    Chagee’s flagship store in Hong Kong is experimenting with a new selection of drinks made from premium Chinese tea leaves. These drinks are brewed in-store by specialists and are sold at prices that are on par with single-origin coffee sold at Starbucks Reserve outlets in the city, ranging from HKD40 to HKD50 (US$5.2-6.4).

    Second Quarter Sales and Future Outlook

    The company’s adherence to its pricing strategy has seen second-quarter sales growth slow to 10%, down from 35% in the previous period. Adjusted operating income has also dropped by 10%, compared to the double-digit increases seen in the first quarter. This weak performance has wiped out nearly a quarter of its market value. Despite this, the company remains optimistic and is not deterred by the decrease in competitiveness. Chagee has decided to follow a development path similar to that of American coffee giant, Starbucks.

    “We’ve always wanted to go down the same path to take tea further,” said Shang, comparing Chagee’s ambitions to those of Starbucks.

    Expansion Plans

    Chagee opened its first U.S. store in Los Angeles in May, following its debut on the Nasdaq. The company operates more than 200 international outlets as part of its network of over 7,000 stores. It reported a 70% jump in overseas sales in the second quarter, with Southeast Asia being a key target for expansion.

    Questions & Answers

    What is Chagee Holdings’ strategy in the face of competition?
    Despite falling sales and profits, Chagee Holdings is maintaining its focus on premium products and has not engaged in price wars with its competitors.

    What are some of the offerings at Chagee’s flagship store in Hong Kong?
    The flagship store in Hong Kong offers drinks made from premium Chinese tea leaves, brewed in-store by specialists, and priced similarly to single-origin coffee at Starbucks Reserve outlets.

    What are Chagee’s future plans for expansion?
    Chagee plans to follow a development path similar to that of Starbucks. The company recently opened its first U.S. store in Los Angeles and is targeting Southeast Asia for further expansion.

  • Gold Prices Plunge In Record Daily Drop: Market Volatility And Increased Dollar Index To Blame

    Gold Prices Plunge In Record Daily Drop: Market Volatility And Increased Dollar Index To Blame

    In a shocking turn of events, gold prices experienced their most significant daily drop in five years, resulting from investors cashing in their gains after the precious metal reached an unrivaled high in the preceding trading session. On Tuesday, spot gold fell by 5.5% to a one-week low of US$4,115.26 per ounce, marking its steepest decline since August 2020. Meanwhile, U.S. gold futures for December saw a slightly steeper dip, settling 5.7% lower at $4,109.10 per ounce.

    A Year of Substantial Gains

    After reaching a record-breaking peak of $4,381.21 on Monday, gold prices have seen an approximate 60% increase over the year. This impressive surge is primarily attributed to factors such as geopolitical instability, economic uncertainty, predictions of interest rate cuts, and continued purchasing by central banks.

    Independent metals trader, Tai Wong, remarked on the recent fluctuations in gold prices. “As recently as yesterday, gold dips were being purchased,” he said. “But the sharp increase in volatility at the highs over the past week is a warning sign that may prompt some short-term profit-taking.”

    A rise of 0.4% in the dollar index also played a role in this situation, as it made gold a more expensive investment for individuals holding other currencies.

    Other Factors at Play

    Senior analyst at Kitco Metals, Jim Wyckoff, highlighted the impact of improved risk appetite in the marketplace on precious metals. He noted, “The better risk appetite observed in the general marketplace earlier this week is bearish for safe-haven metals.”

    Further, Citi analysts projected that the resolution of the ongoing U.S. government shutdown and upcoming announcements regarding the U.S.-China trade deal could lead to the stabilization of gold prices in the coming two to three weeks.

    In the same vein as gold, spot silver also experienced a significant dip, falling by 7.6% to $48.49 per ounce. Wong provided his insights on the matter, stating, “Silver is stumbling badly today and has dragged the entire complex lower. It seems we have a short-term peak at $54, and while sentiment wobbles under $50, silver is likely to trade sideways with substantial volatility as long as gold remains relatively firm.”

    Other precious metals such as platinum and palladium also showed a decrease in value, shedding 5.9% and 5.3% respectively.

    Looking Forward

    As we approach the end of the week, traders eagerly anticipate the release of the U.S. consumer price index report for September, previously delayed due to the U.S. government shutdown. Predictions suggest a year-on-year rise of 3.1%.

    Furthermore, market expectations lean towards a 25 basis point cut in interest rates by the Federal Reserve at its policy meeting next week. As a non-yielding asset, gold typically profits in a low-interest-rate environment.

    Questions & Answers

    What was the recent record high for gold prices?
    The record high for gold prices was $4,381.21 per ounce, reached on Monday.

    What are the main factors contributing to the surge in gold prices this year?
    The surge in gold prices this year can be attributed to geopolitical and economic uncertainty, rate-cut predictions, and sustained central bank buying.

    How does the dollar index affect gold prices?
    An increase in the dollar index makes gold more expensive for holders of other currencies, potentially impacting demand and therefore gold prices.

  • Gold Prices Soar To New Heights Globally And In Vietnam Amidst Geopolitical Tensions

    Gold Prices Soar To New Heights Globally And In Vietnam Amidst Geopolitical Tensions

    The price of gold in Vietnam continued its upward trend on Thursday morning, with global rates reaching a new high. The price of Saigon Jewelry Company’s gold bar increased by 0.41%, reaching VND148.6 million (US$5,642.15) per tael.

    The price of gold rings also saw an increase, rising by 0.34% to VND148.1 million per tael. It’s worth noting that one tael is equivalent to 37.5 grams or 1.2 ounces.

    Gold Value Increase in Vietnam

    In Vietnam, the value of gold bullion has seen a significant increase, jumping by 76.5% this year.

    As of September 6, 2025, the SJC gold bar price stood at 135.4 million VND per tael, given that one million VND equals $37.96.

    Global Gold Price Record

    On the global stage, the price of gold breached the $4,200 per ounce mark for the first time. This record was driven by the rising possibility of interest rate cuts and geopolitical concerns, which have prompted investors to seek out the safety of the precious metal.

    Despite reaching a new high of $4,241, the spot gold price fell to $4,230 at the time of writing.

    Market analyst Fawad Razaqzada commented on the current trend: “The metal has been on a tear, and it doesn’t look like it wants to stop. With U.S.-China trade tensions being reignited in the last few days, investors have even more reason to hedge their long equity bets by diversifying into gold.”

    Over the course of this year, gold has seen a surge of over 60%. This surge has been driven by a combination of factors including geopolitical tensions, bets on rate cuts, central bank purchases, de-dollarization, and strong inflows into exchange-traded funds (ETFs).

    Questions & Answers

    What is the current trend in gold prices?
    Gold prices have been on a steady upward trend, both globally and particularly in Vietnam.

    What factors are contributing to the surge in gold prices?
    A combination of factors including geopolitical tensions, bets on rate cuts, central bank purchases, de-dollarization and strong inflows into exchange-traded funds (ETFs) have contributed to the surge.

    How are investors responding to the current trend in gold prices?
    With increasing geopolitical tensions and potential interest rate cuts, investors are seeking safety in gold, using it as a hedge and diversification tool against their long equity bets.