Gold price increases dramatically; Crude oil decreases for the third consecutive session

Gold price increased dramatically at the end of the week

On the morning of November 26,YellowDomestic gold prices increased dramatically; world gold prices jumped sharply at the end of the week.

Surveyed at 5:00 a.m. on November 26, 2023, DOJI listed the price of 9999 gold at 71.20 million VND/tael for buying and 72.30 million VND/tael for selling.

At Mi Hong Gold and Gemstone Company, the price of Mi Hong gold at the time of survey listed the price of SJC gold at 71.20 - 71.80 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 71.35 - 72.23 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 71.20 - 72.50 million VND/tael (buy - sell).

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,002.495 USD/ounce. Converted according to the current exchange rate at Vietcombank, the world gold price is about 57.864 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 13.436 million VND/tael higher than the international gold price.

Gold rose quite well in the final session of the week as preliminary indicators showed that the manufacturing sector fell to a three-month low and service sector activity rose to a four-month high.

Although gold has regained the $2,000/ounce level, analysts say that gold's upward momentum is still limited and gold prices are unlikely to break the current resistance level because the US Federal Reserve (FED) maintains a tight monetary policy trend.

World crude oil fell for the third consecutive session

Gasoline pricesThe international market ended the week down for the third consecutive session. Currently, Brent oil price ended the week at 80.58 USD per barrel, WTI oil at 75.54 USD per barrel.

In the domestic market, the selling prices of gasoline and oil today, November 26, are applied according to the prices at the management session on the afternoon of November 23 of the Ministry of Finance - Ministry of Industry and Trade. The retail prices of all gasoline and oil are adjusted down.

Accordingly, the price of E5 gasoline decreased to 21,690 VND per liter. The price of RON95 gasoline decreased to 23,020 VND per liter. The price of diesel oil decreased to 20,280 VND per liter while the price of kerosene decreased to 20,940 VND per liter.

Domestic steel prices are forecast to continue to increase.

After two price adjustments in November, the total price increase of construction steel coils ranged from VND200,000 - 250,000/ton depending on the region; while rebar prices remained stable, with only a few individual factories increasing the price of rebars last week with increases ranging from VND100,000 - 200,000/ton.

On this price increase trend, Vietnam Steel Corporation VNSTEEL believes that the market will likely continue to adjust prices upward, including increasing the price of rebar steel.

VNSTEEL's assessment of market sentimentconstruction steelVietnam is gradually becoming more positive. The market is waiting for more moves from manufacturers amid expectations of recovery.

Currently, today's steel prices show that some domestic steel brands have adjusted their selling prices. Specifically, the price of CB240 coil steel in the Northern region has been adjusted up by 150 - 210 VND/kg at Hoa Phat, Viet Nhat and Viet Sing. The Viet Duc brand has adjusted the price of CB240 coil steel down by 190 VND/kg. The price of D10 CB300 ribbed steel has decreased by 40 VND/kg at Viet Duc. Meanwhile, Hoa Phat, Viet Y and Viet Nhat have all increased by 150 VND/kg.

In the Central region, the price of CB240 coil steel decreased by VND200/kg at the Viet Duc brand, while Pomina and Hoa Phat increased by VND110/kg and VND360/kg. The price of D10 CB300 ribbed steel bars increased by VND100 - 410/kg at the surveyed brands.

Domestic coffee prices continue to rise

PricecoffeeDomestic coffee prices updated at 5:00 a.m. on November 26, 2023 remained at an increase, with prices increasing by 600-700 VND/kg compared to the previous session. Currently, the average coffee price in the Central Highlands provinces is about 58,200 VND/kg, with the highest purchase price in Dak Lak province at 58,200 VND/kg.

Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces on November 26, 2023 was at a fairly high price of VND 58,200/kg; In Dak Nong province, coffee was purchased at VND 58,300/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 is purchased at 57,700 VND/kg.

Today's coffee price in Dak Lak province is the highest; in Cu M'gar district, coffee is purchased at 58,500 VND/kg, and in Ea H'leo district, Buon Ho town, it is purchased at the same price of 58,600 VND/kg./.