Hà Nội is set to implement a new enrollment policy for preschool, 1st grade, and 6th grade students, moving away from the current route-based system to a more convenient near-home principle. This change is expected to take effect from the 2026-2027 school year, much to the delight of many residents in the capital, who are eagerly anticipating its rollout.
In a separate but equally significant development, the global commodity market has been experiencing notable fluctuations, particularly in the energy sector. Between April 2 and April 8, 2025, the MXV-Index for energy plummeted by over 500 points, which is a staggering decrease of more than 17%. By the end of April, the price index for this group had lost nearly 18% compared to the beginning of the month, largely driven by a decline in crude oil prices. On April 30, 2025, both WTI and Brent crude oil prices dropped nearly 19% from their peak on April 2, settling at 58.2 USD per barrel and 63.1 USD per barrel, respectively. This marked the lowest closing prices in over four years.
The decline in oil prices reflects a significant adjustment pressure on the market, influenced by a mix of macroeconomic factors and supply-demand dynamics. The U.S. tariffs have raised concerns about global trade stability, but positive news from ongoing trade negotiations has somewhat stabilized market sentiment. Additionally, the oil market is facing oversupply pressures as OPEC+ has announced plans to continue increasing production in May and June, following a strategy initiated in April.
Looking ahead, Nguyen The Minh, Director of the Research and Development Division at Yuanta Securities Vietnam, noted, "Recently, the decline in oil prices has slowed down. In the short term, we may see some rebounds in the upcoming trading week. However, these will likely be isolated rebounds. The most crucial factor will be whether the market establishes an upward trend during this technical rebound, which depends heavily on the negotiations that the U.S. will engage in with other countries in the next week or two. Positive negotiations could revive trade and support commodity prices. Conversely, negative outcomes could lead to further declines, so I believe the situation is heavily reliant on the negotiations ahead."
The metal market has not been immune to the overall weakness seen in the commodity sector throughout April. However, a slight recovery in mid-month helped the MXV-Index for metals avoid a deeper decline. According to the Vietnam Commodity Exchange (MXV), instability in the financial market, along with the uncertain economic outlook for major economies like the U.S. and China, has increased the demand for risk hedging among investors, which in turn supported a significant rise in precious metal prices during this time.
On the other hand, copper prices fell sharply by 14% in the first week of April after reaching a historic peak at the end of March. Nevertheless, following news that the U.S. is considering implementing import tariffs on copper, a wave of large-scale buying was observed. Consequently, by the end of April, COMEX copper prices reached 10,053 USD per ton, marking an increase of over 11% compared to the lowest closing level in the month on April 9.
In the agricultural sector, April brought several positive signals as corn and soybean prices rebounded amid easing trade tensions between the U.S. and its major trading partners. Negotiations between the U.S. and countries like Japan, South Korea, and India have opened up new opportunities for agricultural exports.
Nguyen Thi Thu Huong, Director of International Friendship Investment Company, commented on the outlook for commodity prices, stating, "I believe that in recent times, alongside precious metals, the global crude oil market has attracted significant attention from investors. In some trading sessions since April, prices have fallen to their lowest levels in four years. Given OPEC+'s current production increase and the uncertain economic outlook for the U.S. and China, I think oil prices will struggle to surpass the 60 USD per barrel mark in the near future." This volatility presents numerous opportunities for both domestic and international investors.
Investor Nguyen Tue Lam from Hanoi shared his personal experience, saying, "Recently, amidst market fluctuations, derivative commodity contracts have shown their advantages in two-way trading and T0 transactions to mitigate price risks. By closely monitoring market trends and influential information, I have been quite successful with some metal contracts recently. I believe that with the current tariff situation, monetary policies, and economic outlook, the demand for financial hedging among investors will continue to rise; capital flows will also diversify across various commodity groups."
A recent report by the World Bank highlights that recent shocks have caused significant disturbances in commodity markets, with price levels surging to the highest in half a century. The period from 2020 to 2024 is expected to see frequent and abnormal price fluctuations, negatively impacting inflation and economic activity.
Turning to the gold market, as of 4:00 AM on May 8, 2025, the domestic gold prices have shown slight fluctuations among major brands. SJC gold bars are listed at 120.2 - 122.2 million VND per tael for buying and selling. At DOJI Group, the price remains the same. Meanwhile, Mi Hong's prices dropped slightly, while PNJ's gold saw an increase, priced at 115.5 million VND per tael for buying and 118.1 million VND for selling. Phu Quy's gold prices experienced a sharp decline, listed at 118.7 million VND for buying and 121.7 million VND for selling.
Overall, gold prices today fluctuate between 115.5 and 122.2 million VND per tael. The global gold price as recorded by Kitco at 4:00 AM on May 8, 2025, stands at 3,383.2 USD per ounce, which translates to approximately 107.04 million VND per tael when converted at the current exchange rate of 25,960 VND/USD. Comparatively, the domestic SJC gold price is about 15.16 million VND higher than the international price.
On May 7, 2025, the world gold price decreased by 0.41% to 3,383.2 USD per ounce, primarily due to positive news regarding U.S.-China trade negotiations, which has alleviated concerns about the global economy. As market sentiment improves, gold, traditionally seen as a safe haven asset during turbulent times, becomes less attractive.
Key factors influencing today's gold prices include the upcoming meeting between U.S. officials and Chinese representatives regarding tariffs, scheduled for this weekend in Switzerland. Tensions between India and Pakistan have also escalated, marking the most serious conflict between these nuclear-armed nations in over two decades. Market experts suggest that if this conflict intensifies, gold could see increased demand as a safe-haven asset, potentially driving prices up.
In summary, today’s gold prices are influenced by multiple factors including U.S.-China trade negotiations, the Federal Reserve's interest rate decisions, and geopolitical tensions. Despite the current decline in gold prices, developments in the coming days could lead to unexpected changes. Investors and buyers should closely monitor market trends to make informed decisions.