Gold price falls below 70 million VND/tael; USD price increases mid-week

Gold price falls below 70 million VND/tael

Gold price today (October 18) dropped sharply by nearly half a million VND/tael

At the time of survey at 5:30 a.m. on October 18, 2023, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold at 69.25 million VND/tael for buying and 70.15 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 69.45 - 69.95 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 69.33 - 69.98 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 69.33 - 70.18 million VND/tael (buy - sell).

USD price increased in the middle of the week

USD exchange rate increased in the middle of the week. World USD exchange rate seemed to stagnate.

The central VND/USD exchange rate today (October 18) was announced by the State Bank to be adjusted to 24,093 VND/USD, an increase of 4 VND compared to the same time yesterday.

Currently, the exchange rate allowed for trading by commercial banks ranges from 23,400 - 25,247 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 25,247 VND/USD.

The USD exchange rate at banks and domestic foreign exchange rates this morning recorded a series of upward adjustments at banks. Specifically, Vietcombank has a buying price of 24,328 and a selling price of 24,668, an increase of 38 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.

Domestic coffee prices maintain growth momentum

Updated at 4:30 a.m. on October 18, domestic coffee prices continued to increase slightly by VND 100/kg, currently the average coffee price in the Central Highlands provinces fluctuates around VND 63,600/kg.

Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces on October 18 was 63,600 VND/kg. In Dak Nong province, it was purchased at 63,800 VND/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 63,300 VND/kg.

In Cu M'gar district, Dak Lak province, coffee price is currently at 63,700 VND/kg. In Ea H'leo district, Buon Ho town, it is purchased at the same price of 63,800 VND/kg.

Pepper prices continue to move sideways, ranging from 67,500 - 70,500 VND/kg.

Updated on October 18, domestic pepper market in the Central Highlands and Southeast regions continued to have stable prices ranging from 67,500 - 70,500 VND/kg.

In particular, pepper prices in the Central Highlands range from 67,500 - 69,000 VND/kg. Pepper prices in Chu Se (Gia Lai) are purchased by traders at 67,500 VND/kg. Pepper prices in Dak Lak and Dak Nong continue to be purchased at 69,000 VND/kg, the same as yesterday.

Meanwhile, in the Southeast region, pepper prices range from 70,000 - 70,500 VND/kg. Specifically, Binh Phuoc pepper prices are still being purchased at 70,000 VND/kg, while Ba Ria Vung Tau pepper prices are being purchased at 70,500 VND/kg, the same as yesterday.

Preliminary statistics of the General Department of Customs in September 2023, the quantity of pepper exported in the month was 18,111 tons (down 10.1% compared to August 2023), worth 67,512 million USD (down 10.4% compared to August 2023).

Vietnam has sold most of its output this year, but imports and remaining stocks from previous years have kept pepper supplies to some extent. Meanwhile, buyers continue to closely monitor the outlook for the 2024 crop and are reluctant to enter futures positions at high prices.

In the world, except for Vietnam, where pepper export volume increased compared to last year, other countries such as Brazil, Indonesia, and India all recorded a decrease.