SJC gold price reaches highest level since early 2024; Steel increases on the exchange
(Baonghean.vn) - SJC gold price reached its highest level since the beginning of 2024; Domestic USD decreased, world USD increased slightly; Steel increased on the trading floor... are information about the market situation today.
SJC gold price reaches highest level since early 2024
Survey at 5:00 a.m. on January 15, gold prices on the trading floors of some companies are as follows:
Gold price is listed by DOJI at 73.95 million VND/tael for buying and 76.95 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 74.50 - 75.80 million VND/tael (buy - sell).
SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 74.00 - 76.90 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 73.95 - 77.15 million VND/tael (buy - sell).
According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,049.155 USD/ounce. Converted according to the current exchange rate at Vietcombank, the world gold price is about 59.728 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 14.272 million VND/tael higher than the international gold price.
Domestic USD down, world uplight
Today's USD exchange rate, USD/VND exchange rate slightly decreased, world USD is expected to cool down soon.
The central VND/USD exchange rate announced by the State Bank is adjusted to 23,976 VND/USD, an increase of 28 VND compared to the trading session on January 12.
Currently, the exchange rate allowed for trading by commercial banks ranges from 23,400 - 25,124 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 25,124 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 24,260 and a selling price of 24,630, down 5 VND compared to the trading session on January 12. The current USD buying and selling prices are in the range of 23,400 - 25,300 VND/USD.
In the world market, the Dollar Index (DXY), measuring the USD against 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stopped at 102.44 points - up 0.14% compared to the transaction on January 12.
Japanese Yen Rises
Japanese Yen exchange rates surveyed on the morning of January 15 at specific banks are as follows:
At Vietcombank, the buying rate is 163.45 VND/JPY and the selling rate is 173.00 VND/JPY, up 0.13 VND for buying and up 0.12 VND for selling. At Vietinbank, the Yen rate increased 0.05 VND for buying and up 0.06 VND for selling, equivalent to 164.23 VND/JPY and 173.93 VND/JPY. At BIDV, the Japanese Yen rate increased 0.34 VND for buying and decreased 0.18 VND for selling, reaching 164.57 VND/JPY and 174.27 VND/JPY, respectively. At Agribank, the Japanese Yen rate for buying and selling is 164.95 VND/JPY and 170.00 VND/JPY - down 0.6 VND for buying and down 0.75 VND for selling. At Eximbank, the buying price increased by 0.44 VND and the selling price increased by 0.46 VND, respectively at 166.11 VND/JPY and 170.94 VND/JPY.
At Techcombank, the Japanese Yen exchange rate increased by 0.66 VND in buying and increased by 0.71 VND in selling with prices of 162.11 VND/JPY and 173.19 VND/JPY, respectively.
At Sacombank, the Japanese Yen exchange rate increased by 0.51 VND in buying and increased by 0.49 VND in selling, corresponding to the prices of 166.72 VND/JPY and 171.81 VND/JPY.
Thus, today Sacombank is the bank with the highest buying rate of Japanese Yen and Agribank is the bank with the lowest selling rate among the banks.
The three-month USD/JPY forecast remains at 143.00.
Steelincrease on the exchange
On January 15, the domestic steel market continued to maintain its selling price. Domestic and global steel consumption is expected to improve this year.
Steel futures for October 2023 delivery on the Shanghai Futures Exchange rose to 4,089 yuan/tonne.
China Steel Corp. said it will raise prices of hot-rolled plate and cold-rolled coil by NT$500 to NT$1,000 per tonne for deliveries next month, citing rising demand for two reasons: stable global inflation and China's reopening.
According to a recent report by the Vietnam Steel Association (VSA), steel consumption in 2024 is expected to increase by 6.4% to nearly 21.6 million tons. Of which, finished and semi-finished steel exports will continue to grow at a rate of 12% to nearly 13 million tons. Overall, Vietnam's steel production prospects are likely to increase by about 10% in 2024 thanks to expectations of a recovery in global steel demand.
The World Steel Association (Worldsteel) also pointed out that global steel demand reached 1.81 billion tons in 2023 and will increase by 1.9% to 1.85 billion tons in 2024. Of which, ASEAN's steel demand is expected to increase by 5.2%. Currently, ASEAN is Vietnam's largest steel export market, accounting for 32% of the export market share; the EU and the US ranked 2nd and 3rd, accounting for 28% and 9%, respectively.
Export volume will also improve in the first quarter of 2024 due to the increasing gap between steel prices in North America and Europe and steel prices in Vietnam.