Gold prices fall sharply; Crude oil continues to climb

Gold prices continue to fall sharply

Gold priceToday, November 4, domestic and world prices continue to fall sharply.

At the time of survey at 5:30 a.m. on November 4, on the trading floor of some listed companies, the price was 69.60 million VND/tael for buying and 70.40 million VND/tael for selling.

The world gold price recorded at 5:00 a.m. today, Vietnam time, was 1,992.475 USD/ounce - a difference of 6,565 USD/ounce compared to the world gold price yesterday. Converted according to the current exchange rate at Vietcombank, the world gold price is about 58.22 million VND/tael. Thus, the price of SJC gold bars is still 11.43 million VND/tael higher than the international gold price.

Gold prices were mixed as the US Bureau of Labor Statistics (BLS) reported slowing job growth in October.

Economists expect job growth to slow in October, partly due to a strike by 30,000 United Auto Workers (UAW) workers against Detroit’s “Big Three” automakers. This pushed the unemployment rate up to 3.9%, compared with expectations and the previously published reading of 3.8%.

Crude oil continues to climb

Crude oil price today 11/4, onmarketThe world continued to climb from the previous two sessions.

According to data from Oilprice, at 8:24 p.m. on November 3 (Vietnam time), Brent crude oil was trading at $87.12 per barrel, up $0.27, or 0.31%, from the previous session. WTI crude oil was at $82.8 per barrel, up $0.34, or 0.41%, from the previous session.

Analysts say oil prices are supported by the falling US dollar. On November 3, the DXY index - measuring the strength of the US dollar against six major currencies - fell to 105 points.

The weakening of the US dollar makes oil cheaper for traders using other currencies. This should support oil prices as demand from importing countries increases. In addition, oil prices have increased due to concerns about shrinking supplies.

Coffee prices remain flat

PricecoffeeDomestic coffee prices updated at 4:24 a.m. on November 4 were flat, stable and slightly increased, an increase of about 100 VND/kg. Currently, the average coffee price in the Central Highlands provinces is about 57,600 VND/kg, the highest purchase price is 57,900 VND/kg.

Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces on November 4 was VND57,800/kg; In Dak Nong province, coffee was purchased at VND57,900/kg.

The price of green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province in districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at 57,000 VND/kg.

Coffee price today in Dak Lak province today in Cu M'gar district coffee price is currently at 57,800 VND/kg.