Gold prices plummet; Gasoline and oil prices continue to fall

Gold price plummeted, down to 350,000 VND/tael

Today (October 26), the price of 9999, SJC, 24K, PNJ, DOJI gold decreased by 350,000 VND/tael. The world gold price rebounded.

At the time of survey at 5:30 a.m. on October 26, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold at 69.50 million VND/tael for buying and 70.30 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 69.60 - 70.10 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 69.65 - 70.30 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 69.65 - 70.50 million VND/tael (buy - sell).

USD price inwater down slightly, world up

Today (October 26), USD/VND exchange rate, USD VCB decreased by 10 VND in both buying and selling directions. The world USD exchange rate increased sharply above 106 points.

The central VND/USD exchange rate announced by the State Bank today is adjusted to 24,087 VND/USD, down 10 VND compared to the same time yesterday.

Currently, the exchange rate allowed for trading by commercial banks ranges from 23,400 - 25,241 VND/USD. The US Dollar exchange rate has also been brought to the buying and selling range by the State Bank of Vietnam from 23,400 to 25,241 VND/USD.

The USD exchange rate at banks and domestic foreign exchange rates this morning recorded a series of downward adjustments at banks. Specifically, Vietcombank has a buying price of 24,350 and a selling price of 24,720, down 10 VND compared to the closing price of yesterday's trading session. The current USD buying and selling prices are in the range of 23,400 - 25,300 VND/USD.

Gasoline and oil pricescontinue to decline

In the world market, gasoline and oil prices today (October 26) are likely to continue to decrease following the downward trend from the previous session.

On October 25, world oil and gas prices decreased slightly. According to data from Oilprice, at 9:20 a.m. on October 25 (Vietnam time), Brent oil was trading at $88.05/barrel, down $0.02, or 0.02%, from the previous session. WTI oil was at $83.62/barrel, down $0.12, or 0.14%, from the previous session.

At 9:10 p.m. on October 25 (Vietnam time), Brent crude oil price was at 87.98 USD/barrel, down 0.09 USD, or 0.1%, from the previous session. WTI crude oil price was at 83.54 USD/barrel, down 0.2 USD, or 0.24%, from the previous session.

Oil prices fell after a series of disappointing economic data from Germany, the Eurozone and the UK, affecting the outlook for energy demand, analysts said.

Eurozone business activity unexpectedly fell this month, suggesting the eurozone could be heading into recession. Latest economic data from Germany also showed that Europe's leading economy has slipped into recession. Meanwhile, monthly business results from UK businesses continued to decline, suggesting the country's economy is at risk of a recession.

In addition, the rising US dollar makes oil more expensive for traders using other currencies, which is also the reason for the decline in oil prices.

However, oil prices were also supported by a drop in US gasoline and oil inventories. The American Petroleum Institute (API) weekly oil inventory report showed that US crude and fuel inventories fell sharply last week.

In the domestic market, the retail prices of gasoline and oil today are applied according to the prices at the management session on the afternoon of October 23 of the Ministry of Finance - Industry and Trade. The prices of gasoline and oil were adjusted up slightly accordingly. Specifically, the price of E5 gasoline increased to 22,360 VND/liter. The retail price of RON 95 gasoline increased to 23,510 VND/liter. The price of diesel increased to 22,480 VND/liter while the retail price of kerosene increased to 22,750 VND/liter.