Gold Price Decreases Sharply

On September 19, the domestic gold market saw a decrease of 100 to 200 thousand VND/tael in all brands compared to September 18.

• SJC gold in Hanoi and Da Nang: 79.8 million VND/tael for buying (down 200 thousand VND/tael), 81.8 million VND/tael for selling (down 200 thousand VND/tael).
• SJC Phu Quy Gold: 79.8 million VND/tael for buying, 81.8 million VND/tael for selling (down 200 thousand VND/tael for both buying and selling).
• DOJI Gold in Hanoi and Ho Chi Minh City: 79.8 million VND/tael for buying, 81.8 million VND/tael for selling (down 200 thousand VND/tael for both buying and selling).
• PNJ gold price in Hanoi and Ho Chi Minh City is 78.1 million VND/tael (down 100 thousand VND/tael) for buying, 79.2 million VND/tael for selling.
• The price of Thang Long Dragon gold ring at Bao Tin Minh Chau Company is at 78.8 – 79.18 million VND/tael (buy – sell).

US Federal Reserve Reduces Base Interest Rate

The US Federal Reserve (FED) reduced the base interest rate by 0.5 percentage points, down to 4.75% – 5%.

The FOMC said the US economy has made progress in cooling inflation but it remains high.

Analysts predict that the FED will reduce rates by another 0.5 percentage points by the end of 2024, and by another 1 percentage point in 2025.

Gasoline Prices Rise Again

From 3:00 p.m. on September 19, the price of E5 RON92 gasoline increased by 51 VND/liter; RON95-III gasoline increased by 127 VND/liter and fuel oil increased by 359 VND/kg.

Diesel oil decreased by 122 VND/liter, down to 17,043 VND/liter and kerosene decreased by 239 VND, the new price is 17,551 VND/liter.

Low Liquidity, VN-Index Still Surpasses 1,270 Points

The VN-Index increased 6.37 points (+0.50%), to 1,271.27 points.

Total trading volume reached more than 607.5 million units, worth VND14,285.4 billion, down 24% in volume and 23% in value compared to yesterday’s session.

Saigon Co.op Responds to Storm No. 4

Saigon Co.op has quickly increased its stock of goods by 3 times compared to normal days.

The company has also proactively increased the supply of goods from raw material areas and available sources in the provinces.

Supermarket staff are on duty at the lines, cash registers, warehouses… to quickly replenish goods on shelves, supporting customers to shop safely and quickly.

Banks Continuously Increase Savings Interest Rates

Banks continue to increase savings interest rates, with many assessments saying that there is not much room left to increase deposit interest rates from now until the end of the year.

• PGBank has just adjusted to increase interest rates for short-term deposits, from 1-3 months.
• OCB continues to increase deposit interest rates by 0.2%/year for terms from one to eight months, and by 0.1%/year for terms from nine to 11 months.
• Techcombank increased the interest rate by 0.2%/year for terms under 3 months to 3.6%/year.

Vietnam’s Automobile Industry to 2030

By 2030, the average growth rate of the automobile market will be 14 – 16%/year, with total vehicle sales reaching about 1 – 1.1 million units.

The proportion of electric vehicles and hybrid and solar energy vehicles will reach 350,000 units, domestically assembled and manufactured vehicles will grow at a rate of 18 – 20%/year.