Gold prices fall sharply; crude oil continues to climb.
(Baonghean.vn) - Gold prices continue to fall sharply; crude oil on the world market continues its upward trend; domestic coffee prices remain stable, these are the market news on November 4th.
Gold prices continue to fall sharply.
Gold priceToday, November 4th, domestic and global markets continue to experience sharp declines.
At the time of the survey at 5:30 AM on November 4th, the price on the trading floor of several listed companies was 69.60 million VND/ounce for buying and 70.40 million VND/ounce for selling.
The world gold price recorded at 5:00 AM Vietnam time today was $1,992.475 USD/ounce – a difference of $6.565 USD/ounce compared to yesterday's world gold price. Converted using the current exchange rate at Vietcombank, the world gold price is approximately VND 58.22 million/ounce. Therefore, the price of SJC gold bars is still VND 11.43 million/ounce higher than the international gold price.
Gold prices fluctuated significantly after the U.S. Bureau of Labor Statistics (BLS) reported a slowdown in job growth in October.
Economists predicted slower job growth in October due to several factors, including a strike by 30,000 United Auto Workers (UAW) union workers against the Detroit "Big Three" automakers. This pushed the unemployment rate up to 3.9%, higher than expected and the previously reported figure of 3.8%.
Crude oil continues its upward trend.
Crude oil prices today, November 4th, are abovemarketThe global market continued its upward trend from the previous two sessions.
According to data from Oilprice, at 8:24 PM on November 3rd (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 believe that oil prices are being supported by the weakening US dollar. On November 3rd, the DXY index – which measures the strength of the US dollar against six major currencies – fell to 105 points.
The weakening trend of the US dollar makes oil cheaper for traders using other currencies. This will support a recovery in oil prices due to increased demand from importing countries. In addition, the rise in oil prices is also driven by concerns about shrinking supply.
Coffee prices remain unchanged.
PricecoffeeDomestic coffee prices, updated at 4:24 AM on November 4th, remained stable, stable, and slightly increased by approximately 100 VND/kg. Currently, the average coffee price in the Central Highlands provinces is around 57,600 VND/kg, with the highest purchase price at 57,900 VND/kg.
Specifically, the purchase price of coffee in Gia Lai and Kon Tum provinces on November 4th was 57,800 VND/kg; in Dak Nong province, coffee was purchased at 57,900 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 57,000 VND/kg.
Today's coffee price in Dak Lak province, specifically in Cu M'gar district, is 57,800 VND/kg.
