Gold price drops sharply; Retail gas price drops up to 62,000 VND/12 kg tank

Gold prices fell sharply

Gold price today April 25, world gold price decreased sharply due to pressure from interest rate increase, causing domestic gold price to decrease as well.

Before the opening of the first trading session of the week, this morning (April 25), Saigon Jewelry Company SJC, SJC gold is 66.35 million VND/tael for buying and 67.05 million VND/tael for selling, an increase of 50,000 VND/tael for buying and a decrease of 50,000 VND/tael for selling compared to the previous session.

Gold prices fell sharply at the beginning of the week. Photo courtesy of Nghe An Newspaper

Doji Group listed the price of SJC gold at 66.40 million VND/tael for buying and 66.95 million VND/tael for selling, unchanged.

Phu Quy Gold and Silver listed the price of SJC gold at 66.45 - 67.05 million VND/tael (buy - sell), down 50,000 VND/tael in both directions.

SJC gold price at Bao Tin Minh Chau Company Limited is listed at 66.42 - 66.98 million VND/tael (buy - sell).

Bao Tin Minh Chau's 24K Rong Thang Long gold price is listed at 55.79 - 56.79 million VND/tael.

On the international market, the world gold price before the opening session of the first session of the week was at 1,982.39 USD/ounce, down 0.53 USD or 0.03%.

According to analysts, gold prices are falling because the market is assessing the high possibility that the US Federal Reserve (Fed) will raise interest rates next week.

However, gold prices have not yet hit rock bottom because China’s gold buying power has increased sharply. In March, China’s gold consumption increased by nearly 40% compared to the same period last year.

Domestic gas prices decrease according to the market

Gas price today (April 25), in the first trading session of the week, natural gas price is still in a downward trend, down 1.03%, reaching 2.21 USD/mmBTU.

The debate over when the price decline will turn natural has raged since natural gas prices began to plummet from a 14-year high of $10 to below $2, their lowest in more than two years.

In the domestic market, due to strong fluctuations in world gas prices, domestic retail gas prices from April 1st have also decreased by 62,000 VND/12 kg cylinder. Specifically, gas companies will reduce prices for 12 kg gas cylinders by 58,000 - 62,000 VND/cylinder. Equivalently, gas prices will decrease by about 5,000 VND/kg.

Due to strong fluctuations in world gas prices, domestic retail gas prices from April 1 also decreased by 62,000 VND/12 kg cylinder.

City Petro brand representative informed that the retail gas products of this company will be reduced by 4,833 VND/kg. Thus, City Petro's 12 kg gas cylinder will be reduced by 58,000 VND/cylinder. Meanwhile, the 45 kg gas cylinder will be reduced by 217,500 VND/cylinder.

Similarly, Ho Chi Minh City Petroleum Company Limited (Saigon Petro) announced that from April 1, 2023, the selling price of SP gas will decrease by VND 5,167/kg (including VAT), equivalent to a decrease of VND 62,000/12 kg cylinder. With this reduction, the retail price of SP gas to consumers in April 2023 will be VND 399,000/12 kg cylinder. The reason for the decrease in domestic gas prices, as stated by a representative of Saigon Petro, is that the average CP price in April decreased by USD 180/ton compared to March, to USD 550/ton.

According to experts, one of the reasons for this price decrease is due to the supply and demand situation in the world gas market. Currently, gas production is stable, while consumption demand is decreasing due to the global economy being affected by inflation and stagnant production.

In this situation, gas producers have had to reduce prices to maintain operations and compete in the market. This has caused gas prices in the market to drop sharply recently.

Pepper price today April 25: Many localities increased by 2,000 VND/kg

Pepper prices today (April 25) in the domestic market increased by 500 - 2,000 VND/kg in key regions. The market is bustling.

In Gia Lai, pepper prices were purchased by traders today at 64,500 VND/kg, an increase of 500 VND/kg. In Dak Lak and Dak Nong provinces, pepper prices were purchased today at 67,000 VND/kg, an increase of 2,000 VND/kg.

Pepper prices in the domestic market today increased sharply.

Similarly, in the Southeast, pepper prices have also increased. Currently, pepper prices in Ba Ria Vung Tau are being purchased by traders at 67,500 VND/kg, an increase of 500 VND/kg.

Meanwhile, in Binh Phuoc and Dong Nai, pepper prices remained stable at 66,000 VND/kg.

Pepper prices in the domestic market today increased sharply by 500 - 2,000 VND/kg. Currently, the domestic pepper harvest has ended, according to assessments, increased demand while farmers kept their goods has pushed the market up slightly.

In the world market, at the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 3,540 USD/ton; the price of Brazilian black pepper ASTA 570 at 2,950 USD/ton; the price of Kuching black pepper (Malaysia) ASTA remained at 4,900 USD/ton.

Coffee price today (April 25): Domestic coffee price highest at 51,000 VND/kg

Domestic coffee prices today (April 25) remained unchanged compared to yesterday, currently fluctuating between 50,500 - 51,000 VND/kg.

Specifically, the price of green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province is currently purchased at 50,400 - 50,500 VND/kg in districts such as Bao Loc, Di Linh, Lam Ha.

Coffee prices in Gia Lai, Kon Tum and Dak Nong provinces are at VND50,900/kg.

The highest domestic coffee price is 51,000 VND/kg.

Coffee prices in Dak Lak province today are stable, in Cu M'gar district, coffee prices are currently at 50,900 VND/kg. In Ea H'leo district, Buon Ho town, coffee prices are at the same level of 51,000 VND/kg.

Regarding world coffee prices, the price of Robusta coffee on the London floor in the most recent trading session fluctuated from 2,325 - 2,474 USD/ton, depending on the delivery term. Specifically, coffee for delivery in May 2023 reached 2,474 USD/ton. For the delivery term in July 2023, the price was 2,390 USD/ton, the delivery term in September 2023 reached 2,360 USD/ton and coffee for delivery in November 2023 reached 2,322 USD/ton.

For Arabica coffee on the New York floor, coffee prices in the most recent trading session ranged from 185.85 - 191.79 cents/lb. Of which, the price of coffee for delivery in July 2023 reached 191.55 cents/lb; coffee for delivery in September 2023 reached 188.6 cents/lb; coffee for delivery in December 2023 reached 186.25 cents/lb. The New York floor opened orders for delivery of coffee in March 2024 at 185.79 cents/lb.