Gold continues to rise; Coffee prices continue to fall.
(Baonghean.vn) - Gold prices continue to rise, reaching 71 million VND/ounce; the Japanese Yen exchange rate edged up slightly; domestic coffee prices continue to fall, these are the market news for October 29th.
Gold prices reached 71 million VND per tael.
PriceYellowToday (October 29th), gold prices on the world market rose again, while domestic gold prices reached 71 million VND/ounce.
At the close of trading on October 28th, the price of 9999 gold bars at SJC Ho Chi Minh City was 70.15 million VND/ounce (buying price) and 70.95 million VND/ounce (selling price). SJC Hanoi listed the price at 70.15 million VND/ounce (buying price) and 70.97 million VND/ounce (selling price).
DOJI Hanoi listed gold at 70.1 million VND/ounce (buying price) and 71 million VND/ounce (selling price). DOJI Ho Chi Minh City bought SJC gold at 70 million VND/ounce and sold it at 71 million VND/ounce.
On the global market, on the Kitco exchange (at 8 PM Vietnam time), it was trading at $2,005 per ounce.
According to the CME FedWatch Tool, the market sees nearly a 100% probability that the Federal Reserve (Fed) will keep interest rates unchanged at 5.25% to 5.50%. At the same time, the Fed is expected to maintain tight monetary policies in the short term.
Chairman Jerome Powell has signaled that interest rates may remain stable at next week's meeting. The agency wants more time to assess the impact of current interest rates on the economy.
The core personal consumption expenditures (PCE) price index, a preferred measure of inflation for the Fed, rose 3.7% in September, a slight decrease from the 3.8% increase in August. This marks the second consecutive month that the core PCE index has been below 4%, suggesting that inflation control is on track.
Strategic analysts suggest that geopolitical instability and concerns about public debt will support safe-haven demand in the near future. A closing price above $2,000 per ounce could signal a move toward a new price level.
The Japanese yen edged up slightly but remained at a low level.
Today (October 29),Japanese Yen exchange rateThe black market edged up slightly. Within the banking system, the highest Japanese Yen exchange rates were 160.92 VND/JPY for buying and 165.51 VND/JPY for selling.
In the Hanoi black market, a survey showed that the Japanese Yen/VND exchange rate increased by 0.33 dong in both buying and selling directions, trading at 163.59 VND/JPY for buying and 164.59 VND/JPY for selling.
Forecasting the Yen exchange rate trend, most Asian currencies are expected to see little movement as markets decline ahead of a series of major central bank meetings next week, while the Japanese Yen edged higher on strong inflation data but remains near its lowest level in a year.
The yen rose 0.1% after data reflecting that the US economy grew more than expected in the third quarter was released, suggesting that consumer inflation in Japan's capital would rise higher than anticipated in October, and forecasting a similar increase in nationwide inflation.
Domestic coffee prices continue to fall.
PricecoffeeDomestic prices, updated at 4:40 AM on October 29th, decreased by 500 VND/kg, with the average coffee price in the Central Highlands provinces currently fluctuating around 59,300 VND/kg.
Specifically, the purchase price of coffee in Gia Lai and Kon Tum provinces on October 29th was 59,200 VND/kg. In Dak Nong province, coffee was purchased at 59,500 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 green coffee beans) is 58,700 VND/kg.
In Dak Lak province today, in Cu M'gar district, the price of coffee is currently 59,500 VND/kg. In Ea H'leo district and Buon Ho town, the same price is being paid: 59,600 VND/kg.