Crude oil prices continue to rise; domestic coffee prices fall by another 400 VND/kg.
(Baonghean.vn) - Gold prices fell slightly; crude oil continued its upward trend due to concerns about escalating tensions in the Middle East; domestic coffee prices decreased by another 400 VND/kg, these are the market news for October 28th.
Gold continues its downward trend.
PriceYellowToday, October 28, 2023, the global market declined amidst high levels of the USD and US bond yields.
Domestic gold prices,At the close of trading on October 27th, the price of 9999 gold bars at SJC Ho Chi Minh City was 70 million VND/ounce (buying price) and 70.7 million VND/ounce (selling price). SJC Hanoi listed the price at 70 million VND/ounce (buying price) and 70.72 million VND/ounce (selling price).
DOJI Hanoi listed gold at 69.9 million VND/ounce (buying price) and 70.8 million VND/ounce (selling price). DOJI Ho Chi Minh City bought SJC gold at 70 million VND/ounce and sold it at 70.8 million VND/ounce.
Gold prices on the world market fell today. On the Kitco exchange (at 8 PM Vietnam time), gold was trading at $1,982 per ounce.
Gold prices edged lower as the precious metal faced pressure from a stable USD and rising US Treasury yields.
According to newly released data, the US GDP in the third quarter increased by 4.9% compared to the same period last year. Inflation in the GDP data was brought under control.
According to the Wall Street Journal, inflationary trends could prompt the Federal Reserve (Fed) to pause interest rate hikes. The market is awaiting the Fed's decision to maintain monetary policy stability at next week's FOMC meeting.
Edward Moya, senior market analyst at Oanda, said that a stable US economy could lead the Fed to continue raising interest rates. This would negatively impact gold prices.
World oil prices continue to rise.
On the global market,gasoline pricesToday, October 28th, prices continued their upward trend from the previous day. On October 27th, world oil prices reversed course and rose again after a sharp drop in the previous session.
According to data from Oilprice, at 9:25 AM on October 27th (Vietnam time), Brent crude oil was trading at $88.8 per barrel, up $0.87, or 0.99%, from the previous session. WTI crude oil was at $83.97 per barrel, up $0.76, or 0.91%, from the previous session.
As of 7:54 PM on October 27th (Vietnam time), Brent crude oil was priced at $89.58 per barrel, up $1.65, or 1.88%, from the previous session. WTI crude oil was at $84.82 per barrel, up $1.61, or 1.93%, from the previous session.
Analysts believe that concerns about tightening global supply have fueled the rise in oil prices. The price increase is driven by fears of escalating tensions in the Middle East, which could impact oil supplies from the region.
Experts at Goldman Sachs (USA) predict that Brent crude oil prices will remain at $95 per barrel in the first quarter of 2024.
Domestic coffee prices have fallen further by 400-500 VND/kg.
Domestic coffee prices, updated at 4:40 AM on October 28, 2023, decreased by 400-500 VND/kg. Currently, the average coffee price in the Central Highlands provinces is fluctuating around 60,000 VND/kg.
Specifically, the pricecoffeeCoffee was purchased in Gia Lai and Kon Tum provinces on October 28, 2023, at a price of 59,900 VND/kg. In Dak Nong province, coffee was purchased at a price of 60,000 VND/kg.
In Lam Dong province, in districts such as Bao Loc, Di Linh, and Lam Ha, the price of bulk green coffee beans (green coffee beans, fresh coffee beans) is 59,200 VND/kg.
Today's coffee prices in Dak Lak province, specifically in Cu M'gar district, are at 60,000 VND/kg. In Ea H'leo district and Buon Ho town, the same price is 60,100 VND/kg.
