Gold faces significant pressure; Coffee continues its upward trend.

The USD exchange rate rose slightly.

The central USD/VND exchange rate today (August 27) is as follows:State Bank of VietnamThe State Bank of Vietnam (SBV) announced the exchange rate at 23,942 VND/USD, an increase of 44 dong compared to the rate listed on August 25.

The USD exchange rate, USD/VND exchange rate, black market USD price, and VCB USD rate are all in positive territory, mirroring global USD exchange rates. Currently, the selling rate for USD at VCB is 24,150.

Currently, the USD exchange rate that commercial banks are allowed to trade is between 23,400 and 25,089 VND/USD. The selling rate has also been set by the State Bank of Vietnam's Exchange Department within the buying and selling range of 23,400 - 25,089 VND/USD.

Gold faces many disadvantages.

At the close of trading on August 26,gold priceAt SJC Ho Chi Minh City, the price of 9999 gold bars is 67.35 million VND/ounce (buying price) and 68.05 million VND/ounce (selling price). SJC Hanoi lists the price at 67.35 million VND/ounce (buying price) and 67.97 million VND/ounce (selling price).

Doji Hanoi listed gold at 67.2 million VND/ounce (buying price) and 68.1 million VND/ounce (selling price). Doji Ho Chi Minh City bought SJC gold at 67.3 million VND/ounce and sold it at 68 million VND/ounce.

On the global market, the spot gold price on the Kitco exchange on August 26th (at 6 PM, Vietnam time) was trading at $1,914 per ounce.

Craig Erlam, senior market analyst at Oanda, believes that gold's upward momentum may be limited in the near future. Information from the Fed conference and its stance suggests that interest rates will continue to remain high, and the US dollar is appreciating. This is unfavorable for gold.

Christopher Vecchio, head of futures and foreign exchange at Tastylive, said economic uncertainty in China and the threat of stagflation in Europe will support safe-haven demand for gold. However, the market is not yet ready to move higher. Gold prices could trade around $1,900 per ounce.

Pork prices trended downward this week.

Overall, during the past week (August 21st to August 27th, 2023), live pig prices fluctuated downwards across the board, falling below 60,000 VND/kg. Specifically, on the last day of the week (August 27th, 2023), the average live pig price in the North stood at 59,530 VND/kg; in the Central and Central Highlands regions at 58,140 VND/kg; and in the South at 57,780 VND/kg.

The drop in live pig prices throughout August 2023 was unexpected by experts and businesses. Previously, many believed that live pig prices would fluctuate, rising and falling, around 60,000-65,000 VND/kg.

Despite the steady downward trend in live pig prices, the price of pork carcass remains at 82,000 – 83,000 VND/kg. Pork prices at local markets in Hanoi are generally around 100,000 – 130,000 VND/kg. Market consumption is quite slow.

Coffee prices continue to rise.

PricecoffeeDomestic prices on August 27th saw a slight increase, reaching an average of 65,400 VND/kg.

Specifically, coffee prices in Gia Lai and Kon Tum provinces stood at 65,100 VND/kg, an increase of 500 VND/kg compared to the previous session. In Dak Nong province, coffee was purchased at the highest price of 65,800 VND/kg.

The price of bulk green coffee beans (green coffee beans, fresh coffee beans) in Lam Dong province is being purchased at 64,900 VND/kg. In Dak Lak province today, the purchase price is the same at 64,600 - 65,600 VND/kg.

World coffee prices, at the close of trading this weekend, saw Robusta coffee prices on the ICE Europe – London exchange extend their recovery for the fifth consecutive session. The November spot contract rose by $31 to $2,437/ton, the January 2024 contract increased by $24 to $2,349/ton, and the March 2024 contract reached $2,322/ton – all significant increases. Trading volume remained at an average level.