The rise in gold prices to an all-time high, above 2,400 USD/ounce, is attracting attention in global markets. According to economic experts, China, the world’s largest producer and consumer of precious metals, is the main reason for the galloping rise in gold prices.
Experts say that world geopolitical tensions are increasingly escalating, including conflicts in the Middle East and Ukraine, combined with the prospect of lowering US interest rates increasingly remote. has contributed to increasing the appeal of gold, a safe haven asset against geopolitical and economic risks. However, the main force pushing gold prices persistently higher is relentless demand from China, including retail shoppers, fund investors, traders in the futures markets and even the Bank. People’s Bank of China (PBoC, i.e. central bank).
China and India have for many years taken turns holding the position of being the world’s largest gold buyers. But the situation changed last year, when China’s consumption of jewelry, gold bars and coins hit record levels. China’s gold jewelry demand increased by 10%, while India’s decreased by 6%. Similarly, Chinese coin and gold bar investments increased by 28%.
Expert Philip Klapwijk, CEO of consulting company Precious Metals Insights Ltd based in Hong Kong (China), commented: “There is still space for growth demand.” In the context of relatively limited investment options in China, as the real estate crisis continues to drag on, the stock market continues to fluctuate and the weakening yuan has motivated Chinese people to Quoc moved money into assets considered safer.
Although China mines the most gold in the world, the country still has to import a lot and the quantity is increasing. Over the past two years, China’s foreign gold purchases totaled 2,800 tons, more than the total amount of the metal held by global exchange-traded funds, and about one-third of the Reserve’s total gold holdings. US Federal Reserve.
In particular, China’s gold import volume increased sharply in the run-up to the Lunar New Year, the peak season for gifts. In the first two months of this year, gold imports of the world’s second largest economy were 53% higher than the same period in 2023.
– Bitcoin price: Recovering to 65,150 USD
Bitcoin price traded at 65,156.95 USD/BTC, up 1.60% over the past 24 hours.
According to Coindesk data, updated at 1:40 p.m. on April 21 (Vietnam time), Bitcoin price traded at 65,156.95 USD/BTC, up 1.60% in the past 24 hours. The liquidity of the cryptocurrency with the largest market capitalization is at 49.59 billion USD, down 46.71% compared to April 20. Bitcoin’s market capitalization reached 1,280 billion USD, accounting for 52.20% of the total capitalization of the cryptocurrency market.
The total market capitalization recorded at 2:52 p.m. was 2,464.33 billion USD, an increase of 3.05% compared to 24 hours ago.
It is known that ETH also tends to increase by 3.77%, trading at 3,179.67 USD/ETH. Meanwhile, a series of other cryptocurrencies have tended to recover in the past 24 hours. XRP and SOL – other popular cryptocurrencies – are on an upward trend.
At 1:47 p.m., among the 10 cryptocurrencies with the largest market capitalization, all 10 were on an upward trend compared to the previous 24 hours. Accordingly, DOGE is the coin with the largest increasing trend at 5.45%.
– Name a series of real estate ‘giants’ who owe trillions of billions in bonds
There are 182 real estate businesses with outstanding bond debt, total outstanding debt is nearly 351,400 billion VND, of which due bond debt is about 99,500 billion VND. Notably, many real estate giants have maturing bond debt of up to trillions of billions.
The Ministry of Finance has just sent a report to the Ministry of Construction on the management and supervision of bond issuance by real estate enterprises.
Citing data on the outstanding bond situation as of December 31, 2023 according to the Hanoi Stock Exchange, the Ministry of Finance informed that the total outstanding bond issuance debt of real estate businesses is VND 351,390 billion. .
In the list of real estate businesses “holding debt” on multi-trillion billion bonds, there are notable names: Capitaland Tower Co., Ltd. more than 12,200 billion VND, Van Truong Phat Investment and Construction Joint Stock Company 10,000 billion VND.
Besides, there are other names such as: Viet Han Trading – Advertising – Construction – Real Estate Joint Stock Company (Viet Han Real Estate) 9,700 billion VND; TNR Holdings Vietnam Real Estate Development Investment Joint Stock Company about 9,300 billion VND, Hano-vid Real Estate Joint Stock Company about 9,500 billion VND, Hung Yen Urban Development and Investment Co., Ltd. 7,200 billion VND, Thai Son Joint Stock Company Long An 8,700 billion VND;
This list also includes Nova Real Estate Investment Group Joint Stock Company with about 6,500 billion VND; Nova Thao Dien Company Limited 2,300 billion VND.
In addition, real estate “giants” that hold many trillions of VND in bond debt according to the Ministry of Finance’s report also include Sunshine AM Joint Stock Company with about 4,400 billion VND, Sunshine Housing Trading Joint Stock Company with 3,500 billion VND, Golden Hill Investment Joint Stock Company with about 4,400 billion VND. 5,760 billion VND, Hung Thinh Land Joint Stock Company 5,100 billion VND, Nam Long Investment Joint Stock Company about 3,100 billion VND, Aqua City Company Limited 2,400 billion VND, Hung Thinh Investment Joint Stock Company more than 2,900 billion VND, Hai Phat Investment Joint Stock Company more than 1,840 billion VND , KN Cam Ranh Co., Ltd. more than 1,600 billion VND, Van Phu – Invest Investment Joint Stock Company 1,300 billion VND, Sunshine Group about 1,300 billion VND…
