Gold price forecast to hit record high in new week; Oil price on the rise
(Baonghean.vn) - Gold price is forecast to hit a record high in the new week; Gasoline and oil prices are on the rise; Domestic coffee prices increased by 1,500 VND/kg, these are the market information updated on the morning of May 20.
Gold price forecast to hit record high in new week
SJC gold is anchored at 90.4 million VND/tael, world gold is forecast to increase sharply, setting a record peak of 2,500 USD/ounce in the new week.
At the time of survey at 5:00 a.m. on May 20, 2024,gold priceon the trading floor of some companies as follows:
DOJI listed the price of 9999 gold at 87.70 million VND/tael for buying and 89.80 million VND/tael for selling.
At Mi Hong Gold and Gemstone Company, the price of Mi Hong gold at the time of survey listed the price of SJC gold at 88.50 - 90.20 million VND/tael (buy - sell).
SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 87.85 - 90.10 million VND/tael (buy - sell).
According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,414.50 USD/ounce. Converted according to the current exchange rate at Vietcombank, the world gold price is about 73.159 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 14.541 million VND/tael higher than the international gold price.
According to analysts, the decline in the USD index on the international market and the decline in US government bond yields have supported the gold price towards the peak. After surpassing the 2,400 USD/ounce zone, the gold price may continue to increase, even towards the 2,500 USD/ounce zone - a new historical high.
Crude oil continues upward trend
In the world market,Gasoline priceToday, May 20, the trend is upward, following the increase from last week.
Oil prices continued to rise in the fourth trading session. In this session, oil prices increased by nearly 1% as the market balanced the US crude oil reserve and economic data with the International Energy Agency's forecast of weaker global oil demand growth.
Thus, with 4 sessions of increase and 1 session of decrease, oil prices last week recorded a week of increase. Overall, Brent oil prices increased by about 1% last week, while WTI oil prices increased by more than 2%.
Closing last week, Brent oil price was fixed at 83.98 USD/barrel, WTI oil price ended the week at 80.06 USD/barrel.
Domestic coffee increased by 1,500 VND/kg
Domestic coffee prices updated at 5:10 a.m. on May 20, 2024 continued to increase, an increase of 1,500 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 103,800 VND/kg, the highest purchase price in Dak Nong province is 104,000 VND/kg.
Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces is 103,400 VND/kg; In Dak Nong province, coffee is purchased at 104,000 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, coffee is purchased at 103,300 VND/kg.
In Dak Lak province, coffee is purchased at about 103,800 VND to 103,900 VND/kg./.