Domestic gold price is more than ten million VND higher than world price; Dollar and pepper prices continue to increase slightly

Domestic gold price is 11.77 million VND/tael higher than world price

At the time of survey at 5:00 a.m. on June 4, on the trading floor of Saigon Jewelry Company SJC, SJC gold was 66.35 million VND/tael for buying and 67.05 million VND/tael for selling.

At Phu Quy Jewelry Company, at the time of survey, the listed price of SJC gold was at 66.35 - 66.95 million VND/tael (buy - sell).

DOJI listed the price of 9999 gold at 66.35 million VND/tael for buying and 66.95 million VND/tael for selling.

Vietinbank Gold price is listed at 66.45 million VND/tael for buying and 67.07 million VND/tael for selling.

Gold price on June 4 increased slightly.

The price of SJC gold at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 66.40 - 66.95 million VND/tael (buy - sell). The price of 24K Rong Thang Long gold of Bao Tin Minh Chau is listed at 55.58 - 56.48 million VND/tael in two directions.

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 1,948.100 USD/ounce. Converted according to the current exchange rate at Vietcombank, the world gold price is about 55.28 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 11.77 million VND/tael higher than the international gold price. Meanwhile, the US gold futures price decreased by 1.3%, to 1,969.60 USD.

Domestic USD exchange rate reaches 23,722 VND

The State Bank of Vietnam announced the central exchange rate with the US Dollar at 23,722 VND. The USD exchange rate yesterday (June 3) showed that the Dollar Index (DXY), measuring the USD against 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) stopped at 104.041 points with an increase of 0.46% at the close of the session on June 2.

The US dollar made a strong comeback on June 4 after the May non-farm payrolls report showed an increase in employment. However, investors are still questioning the possibility of the US Federal Reserve (Fed) raising interest rates in June.

Job creation surged, with 339,000 jobs created in the public and private sectors in May, far exceeding economists’ median forecast, according to the report. This was a jump from April’s gain of 253,000. However, the unemployment rate rose to 3.7% from a 53-year low of 3.4% in April.

Pepper prices increased slightly, the highest grade reached 75,000 VND/kg.

Pepper prices on June 4 in the domestic market tended to move sideways. Currently, pepper prices in key regions fluctuate around 72,000 - 75,000 VND/kg.

Accordingly, in the Central Highlands region, pepper prices today fluctuate around 72,000 - 73,500 VND/kg. Specifically, in Gia Lai, pepper prices today are purchased by traders at 72,000 VND/kg. In Dak Lak and Dak Nong provinces, pepper prices today remain around 73,500 VND/kg.

Similarly, in the Southeast region, pepper prices today also remain stable. In Ba Ria Vung Tau, pepper prices today are being purchased by traders at 75,000 VND/kg. In Binh Phuoc, pepper prices today are at 74,500 VND/kg; Dong Nai 72,500 VND/kg.

Thus, today's pepper price in the domestic market has stopped falling after 2 consecutive sessions of decline. Last week, the domestic pepper market fluctuated strongly when it increased continuously in the first 3 sessions of the week and gradually decreased in the last 2 sessions of the week. At the end of last week, domestic pepper prices increased by 500-2,000 VND/kg compared to the end of last week. Accordingly, the price increased the most in Binh Phuoc (2,000 VND/kg) and the least in Gia Lai (500 VND/kg).

Many pepper exporting enterprises predict that from now until the new crop harvest, pepper prices will continue to increase because supply is decreasing. Pepper exports will improve in the coming time. The market will change in terms of output but value will increase.

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 3,581 USD/ton; the price of Brazilian black pepper ASTA 570 at 3,350 USD/ton; the price of Kuching black pepper (Malaysia) ASTA remained at 4,900 USD/ton.

Pepper prices remain stable.

Muntok white pepper price is 6,091 USD/ton; Malaysian ASTA white pepper price remains at 7,300 USD/ton.

Vietnam black pepper price is traded at 3,500 USD/ton for 500 g/l, 3,600 USD/ton for 550 g/l; white pepper price is at 5,000 USD/ton.

The International Pepper Community (IPC) commented that the pepper market this week had mixed reactions as only domestic pepper prices in Malaysia were reported to be on a downward trend. Indian pepper prices continued to be reported to be on an upward trend for the past two weeks. Domestic and international prices in Indonesia were reported to be stable since last week.