Golden Rush: Bars and Rings Shine Bright as Prices Hit Record High

Factors driving demand for construction materials; LPBank Securities Chairman resigns ahead of extraordinary shareholders meeting

– Gold price: Gold bars increase, gold rings reach new peak

According to records, the price of gold on September 24 fluctuated strongly when the price of SJC gold bars increased by 1.5 million VND/tael, to 83.5 million VND/tael; meanwhile, the price of gold rings continued to set a new peak.

SJC gold price in Hanoi and Da Nang is currently 81.50 million VND/tael for buying and 83.50 million VND/tael for selling (up 1.5 million VND/tael for both directions).

DOJI gold price in Hanoi area is 81.50 million VND/tael for buying and 83.50 million VND/tael for selling (up 1.5 million VND/tael for both directions).

Similarly, DOJI gold price in Ho Chi Minh City is also buying at 81.50 million VND/tael and selling at 83.50 million VND/tael (increased by 1.5 million VND in both directions).

PNJ gold price in Ho Chi Minh City is being bought at 80.50 million VND/tael and sold at 81.50 million VND/tael (increased by 600,000 and 400,000 VND/tael respectively in buying and selling).

PNJ Gold in Hanoi traded at 80.50 million VND and sold at 81.50 million VND/tael (increased by 600,000 and 400,000 VND/tael in buying and selling respectively).

Bao Tin Minh Chau gold price also increased by 1.5 million VND per tael in both directions, listed at 81.50 million VND/tael for buying and 83.50 million VND/tael for selling, respectively.

Phu Quy SJC gold price also increased by 1.5 million VND/tael in both directions, trading at 81.50 million VND/tael for buying and 83.50 million VND/tael for selling, respectively.

Meanwhile, domestic plain round gold rings are at record high prices, continuing to set new peaks.

Currently, DOJI listed the price of gold rings at 80.10 – 81.20 million VND/tael (buy – sell), while SJC listed it at 79.80 – 81.10 million VND/tael, an increase of about 100,000 VND/tael compared to September 23.

For nearly a week now, the price of gold rings has been continuously increasing and breaking records. With this development, the price of gold rings is only about 2 million VND/tael lower than that of gold bars.

– Factors driving demand for construction materials

Reconstruction projects implemented by the Government and localities are expected to boost demand for construction materials.

According to experts from VNDirect Securities Corporation (VNDirect), boosting the economy after the storm is the top priority. The government will focus on restoring essential infrastructure such as power grids, roads, schools and clinics, while supporting people to repair and rebuild houses damaged by Typhoon Yagi.

To boost growth, the government will also further accelerate disbursement of public investment and national target programs.

Reconstruction projects implemented by the Government and localities will boost the construction materials industry.

The main construction materials sought are home repair materials such as corrugated iron roofs, tiles, aluminum and glass frames, tiles, wooden floors, water pipes, electrical equipment and waterproof paint…

Experts from An Binh Securities Joint Stock Company (ABS) commented that for the galvanized steel group, domestic consumption output recovered thanks to the booming real estate market, increased demand for construction materials in the last period of the year and overcoming the consequences of floods caused by Typhoon Yagi.

– Prime Minister requests no shortage of gasoline

The Prime Minister directed the Ministry of Industry and Trade to proactively develop a petroleum plan for 2025 and the following years, and resolutely not to let there be a shortage or disruption of supply like in 2022.

The request was made by Prime Minister Pham Minh Chinh in Official Dispatch No. 99/CD-TTg on continuing to implement solutions to ensure the supply of gasoline for production, business and consumption of people and businesses.

The telegram stated that petroleum is an essential commodity serving the production, business and consumption of people and enterprises. To continue ensuring sufficient supply of petroleum for production, business and consumption of people and enterprises, the Prime Minister requested the Minister of Industry and Trade to direct key petroleum traders to proactively source goods, provide sufficient petroleum for the system, and avoid interruption of supply in their petroleum distribution system.

Along with that, key traders must maintain regular sales activities, sell at the listed price; strictly implement the total minimum petroleum source in 2024 allocated and reserve petroleum according to regulations.

Proactively develop a petroleum plan for 2025 and the following years, resolutely not allowing shortages or supply disruptions like in 2022.

– LPBank Securities Chairman resigns before extraordinary shareholders meeting

LPBank Securities Chairman leaves the “hot seat” after less than a year of appointment.

LPBank Securities Joint Stock Company (LPBS) said it has just received the resignation letter of Mr. Le Minh Tam, Chairman of the Board of Directors of the company.

Mentioned in his resignation letter, Mr. Tam said that at the 2024 annual general meeting of shareholders held in April 2024, he was elected as a member of the board of directors for the 2023-2028 term and was trusted as Chairman of LPBank Securities.

However, currently, due to some personal reasons, he wants the shareholders’ meeting and the board of directors to approve his resignation from September 20.

Mr. Le Minh Tam was elected to hold the position of Chairman of LPBS from December 2023. With the decision to resign from the securities company, Mr. Tam is currently Vice Chairman of the Board of Directors of Loc Phat Vietnam Commercial Joint Stock Bank – LPBank.

– More than 4 million international visitors to Ho Chi Minh City

Total revenue of Ho Chi Minh City’s tourism industry in the first 9 months of 2024 is estimated at VND 140,398 billion, an increase of 11.9% over the same period in 2023, reaching 73.9% of the 2024 plan.

The above information was announced by the Ho Chi Minh City Department of Tourism on September 24 about the tourism activities in the first 9 months and the city’s key directions and tasks for the last 3 months of 2024.

According to the Ho Chi Minh City Department of Tourism, in the first 9 months of 2024, international visitors to the city are estimated at 4.014 million, up 12.4% over the same period in 2023, reaching 66.9% of the 2024 plan; domestic tourists are estimated at 27.353 million, up 1.3% over the same period in 2023, reaching 72% of the 2024 plan.

The city’s tourism industry actively promotes cultural and historical tourism products, waterway tourism, medical tourism, MICE tourism, and improves the quality of culinary services, contributing to increasing the attractiveness of the city’s destinations.