Gold expected to fall; Gasoline and oil prices continue to rise after a week of strong increases
(Baonghean.vn) - Gold is forecast to decrease in the new week; Gasoline and oil prices continue to rise after a strong week; Domestic coffee prices are stable at a high level; Will the USD increase or decrease this week?...
Gold forecast to fall in new week
Domestic gold is "stabilized" near the high price of 82 million VND/tael, while world gold is forecast to decrease in the new week.
At the time of survey at 5:30 a.m. on March 18, the gold price on the trading floors of some companies was as follows:
DOJI listed the price of 9999 gold at 79.40 million VND/tael for buying and 81.40 million VND/tael for selling.
SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 79.60 - 81.45 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 79.60 - 81.92 million VND/tael (buy - sell).
According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,156,010 USD/ounce. Converted according to the current exchange rate at Vietcombank, the world gold price is about 63,516 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 15,684 million VND/tael higher than the international gold price.
Will the USD rise or fall this week?
Today, the VND/USD exchange rate, USD VCB both maintained a slight increase, is the world USD expected to increase or decrease this week?
The central VND/USD exchange rate announced by the State Bank today is adjusted to 23,979 VND/USD, an increase of 12 VND compared to the trading session on March 15.
Currently, the exchange rate allowed for trading by commercial banks ranges from 23,400 - 25,127 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 25,127 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 24,520 and a selling price of 24,890, an increase of 20 VND compared to the trading session on March 15. 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 103.45 points - up 0.08% compared to the transaction on March 15.
Gasoline and oil prices continue to rise after a week of strong increases
In the world market, gasoline and oil prices today (March 18) are likely to increase following the strong increase of last week.
Last week, world oil prices rebounded sharply after declining the previous week. Gasoline and oil prices last week were strongly affected by falling US oil inventories, the possibility of supply disruptions from Russia, and the International Energy Agency (IEA) raising its forecast for global oil demand.
In the second trading session of the week, oil prices fell slightly after reports on US crude oil production and economic data.
However, oil prices rebounded sharply in the third trading session of last week. In this session, oil prices increased by about 3%.
The increase in oil prices continued into the fourth trading session. In this session, oil prices increased by nearly 2% to the highest level in 4 months, exceeding 85 USD/barrel.
In the last trading session of last week, oil prices turned down slightly. Oil prices went down due to selling pressure from investors after 2 sessions of strong increases.
With 2 strong increases, 2 slight decreases and 1 mixed session, oil prices last week went up. Both Brent and WTI oil prices last week increased by more than 3%.
In the domestic market, the selling prices of gasoline and oil today (March 18) are applied according to the price of the operating session on the afternoon of March 14.
Accordingly, retail prices of gasoline and oil products are adjusted to slightly reduce gasoline prices and increase oil prices.
Specifically, the price of E5 gasoline decreased to 22,490 VND/liter. The price of RON95 gasoline decreased to 23,540 VND/liter. On the contrary, the price of diesel increased to 20,540 VND/liter. The price of kerosene was raised to 20,700 VND/liter.
Domestic coffee prices remain stable at high levels
Updated at 4:24 a.m. on March 18, domestic coffee prices are stable and at a high level, surpassing VND93,000/kg. Currently, the average purchase price in the Central Highlands provinces is VND93,100/kg, the highest purchase price in Dak Nong province is VND93,200/kg.
Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces is quite high at 93,000 VND/kg; In Dak Nong province, coffee is purchased at the highest price of 93,200 VND/kg.
Green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province in districts such as Bao Loc, Di Linh, Lam Ha, are purchased at 92,400 VND/kg.
In Cu M'gar district, Dak Lak province, coffee is purchased at about 92,900 VND/kg, while in Ea H'leo district, Buon Ho town, it is purchased at the same price of 93,000 VND/kg.