The global gold fever is erupting! International gold prices have surpassed $3,400 per ounce — an all-time record high. In Vietnam, SJC gold has crossed the 121 million VND per tael mark for the first time ever. What’s triggering the largest safe-haven wave of the year?
Political and Geopolitical Updates
Russia-Ukraine: Peace Still Elusive
The conflict in Ukraine shows no signs of easing. Russia and Ukraine remain unable to agree on a definition of “peace,” while the U.S. is pushing for a ceasefire deal. Experts believe that ultimately, the outcome will still be decided on the battlefield.
Trump Criticizes the Fed, U.S. Stocks Tumble
Former President Donald Trump harshly criticized the Fed’s interest rate policies, accusing the central bank of “destroying” the economy. His remarks added further instability to the market, causing U.S. stock indices to plunge sharply on April 21.
U.S. Offers $5 Million Reward to Capture MS-13 Leader
The U.S. government has announced a $5 million reward for information leading to the capture of the notorious MS-13 gang leader in Honduras, demonstrating its determination to crack down on transnational crime.
Global Macroeconomic Updates
China Continues Monetary Easing
The People’s Bank of China has cut the reserve requirement ratio for the second time this year, injecting around $70 billion into the banking system. This clearly signals Beijing’s efforts to bolster economic growth.
U.S.: Cooling Inflation Could Prompt Early Rate Cuts
The March CPI rose by just 3.2%, below expectations of 3.4%. This strengthens the outlook that the Fed may start cutting rates as early as June or July, significantly impacting the USD, gold, and stock markets.
ECB Signals Rate Cuts
ECB President Christine Lagarde indicated that the European Central Bank may lower interest rates in June if economic data remains positive. This marks a major policy shift after a prolonged period of monetary tightening since 2022.
Commodity, Currency, and Stock Market Highlights
Brent Crude Falls Sharply Below $85/Barrel
After a strong rally earlier in April, Brent crude prices have reversed, dropping nearly 4% due to concerns over slowing growth in China and Europe. This shift is impacting energy stocks and global inflation directly.
Broad Weakening of the U.S. Dollar
The USD continues to depreciate, putting pressure on emerging markets. Meanwhile, the Chinese Yuan is also weakening, adding volatility to the global currency market.
Gold and Crypto Market Overview
Gold Breaks $3,400/oz Globally
Gold is setting new records fueled by a weakening USD, geopolitical instability, and recession fears. In Vietnam, SJC gold has topped 121 million VND per tael for the first time — drawing intense attention from investors.
Bitcoin Drops Sharply Below $63,000
Bitcoin has plummeted nearly 8% in just two days, marking its steepest decline in six weeks. This downturn is attributed to expectations that the Fed might not cut rates soon and cooling demand from ETF products. The entire crypto market is following this downward trend.
Vietnam Economic and Financial Updates
Exports Surge, Domestic Consumption Remains Weak
In Q1 2025, Vietnam’s exports rose 17% thanks to recovering demand from the U.S. and EU markets. However, domestic consumption remains sluggish, reflected in low retail sales and consumer confidence indexes. Vietnam’s economic recovery continues but remains unbalanced.
Ministry of Industry and Trade Revokes VCCI’s CNM and REX Code Issuance Rights
This move aims to tighten control over import-export activities and ensure compliance with international commitments, particularly with the EU market under the EVFTA framework.
This concludes the financial and economic landscape for April 22, 2025.
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