Rubber price highest in 7 years; Gold close to 90 million VND/tael
Market information today: Rubber price increases to the highest level in the past 7 years; Gold approaches the 90 million VND/tael mark; USD stabilizes around 104...
Updated world rubber prices at 5:00 a.m. on May 28, 2024 (Vietnam time) recorded high anchor prices for all terms on both exchanges.
Natural rubber prices are rising to a seven-year high due to growing demand from China’s electric vehicle industry, coupled with poor production in Thailand and Indonesia. Vietnam’s rubber export prices are also rising, opening up a positive outlook for the Vietnamese rubber industry.
At the Tokyo Commodity Exchange (TOCOM), RSS3 rubber prices continued to remain high, fluctuating at 329.0 - 335.8 JPY/kg.
Similarly, the price of TSR20 rubber at the Singapore Exchange (SGX) fluctuated at 169.5 - 175.3 US cents/kg...
At domestic rubber companies, the purchase price of raw rubber latex is currently maintained at around 283 - 312 VND/TSC. Of which, Phu Rieng Rubber Company maintains the purchase price at 285 - 305 VND/TSC, stable compared to the end of last month.
Binh Long Rubber Company maintains the purchase price at 285-295 VND/TSC. Ba Ria Rubber Company maintains the purchase price at 283-293 VND/TSC. Phuoc Hoa Rubber Company maintains the purchase price at 310-312 VND/TSC.
Gold close to 90 million VND/tael mark
Today, May 28, 2024, SJC gold increased sharply by approximately half a million VND per tael, bringing the price close to the 90 million VND/tael mark, world gold reversed and increased slightly.
At the time of survey at 5:00 a.m. on May 28, 2024, the gold price on the trading floors of some companies was as follows:
Today's 9999 gold price is listed by DOJI at 87.70 million VND/tael for buying and 89.30 million VND/tael for selling.
At Mi Hong Gold and Gemstone Company, at the time of survey, the listed price of SJC gold was at 88.60 - 89.80 million VND/tael (buy - sell).
SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 87.90 - 89.60 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 88.50 - 89.30 million VND/tael (buy - sell).
According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,350 USD/ounce, a difference of 15.89 USD/ounce compared to yesterday's gold price. Converted according to the current exchange rate at Vietcombank, the world gold price is about 71,292 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 16,608 million VND/tael higher than the international gold price.
USD stabilizes around 104
Today, USD VCB increased slightly by 4 VND in both buying and selling directions, while the world USD also stabilized around 104 points.
The central VND/USD exchange rate announced by the State Bank today is adjusted to 24,268 VND/USD, up 4 VND compared to the trading session on May 27.
Currently, the exchange rate allowed for trading by commercial banks fluctuates from 23,400 - 25,450 VND/USD. The US Dollar exchange rate has also been brought to the buying and selling range of 23,400 to 25,450 VND/USD by the State Bank Exchange.
The bank USD exchange rate, foreign exchange rate and domestic USD price this morning recorded a series of upward adjustments at banks. Specifically, Vietcombank has a buying price of 25,251 and a selling price of 25,481, an increase of 4 VND in both buying and selling compared to the trading session on May 27. The current USD buying and selling prices are in the range of 24,000 - 25,500 VND/USD.
In the world market, the Dollar Index (DXY), which measures the USD against 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stopped at 104.60 points - down 0.13% compared to trading on May 27.
