Gold price drops at the end of the week; Domestic coffee price rebounds

Gold price down on weekend

YellowDomestic gold price decreased by 300,000 VND/tael in both buying and selling directions, world gold price recorded a decrease for 2 consecutive weeks.

Survey at 5:00 a.m. on January 21, 2024, gold prices on the trading floors of some companies are as follows:

DOJI listed the price of 9999 gold at 73.65 million VND/tael for buying and 76.65 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 - 75.50 million VND/tael (buy - sell).

At Bao Tin Minh Chau Company Limited, the company also traded at 73.90 - 76.55 million VND/tael (buy - sell).

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,029.620 USD/ounce. Converted according to the current exchange rate at Vietcombank, the world gold price is about 59.366 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 14.334 million VND/tael higher than the international gold price.

USD continues to rise

USD exchange rateToday, January 21, 2024, the world USD fluctuated above 103 points, recording the second consecutive week of price increase.

Currently, the exchange rate allowed for trading by commercial banks ranges from 23,400 - 25,188 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 25,188 VND/USD.

The bank USD exchange rate, foreign exchange rate and domestic USD price this morning recorded a series of upward adjustments at banks. The current USD buying and selling prices are in the range of 23,400 - 25,300 VND/USD.

The US dollar posted a second straight weekly gain on renewed doubts about an early Federal Reserve interest rate cut, while weak retail sales weighed on the pound.

The Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.29% lower at 103.24, but has gained more than 1% so far this week.

Signs of recovery in the US economy have touched expectations that the US central bank will start a rate cutting cycle as early as the first quarter of 2024.

Oil down slightly

PricegasolineInternational oil prices ended the last trading session of the week slightly down, at nearly $78 a barrel for Brent crude and nearly $73 a barrel for WTI crude. However, oil prices recorded their second weekly increase since the beginning of the year amid escalating tensions in the Middle East and disruptions to oil production.

In the domestic market, the selling prices of gasoline and oil today, January 21, are applied according to the prices at the management session on the afternoon of January 18 of the Ministry of Finance - Industry and Trade.

Accordingly, gasoline prices were adjusted up. Of which, RON 95 gasoline price increased beyond 22,000 VND per liter.

Specifically, the price of E5 gasoline was raised to 21,410 VND per liter. The price of RON 95 gasoline increased to 22,480 VND per liter.

Diesel price increased to 20,190 VND per liter. Kerosene price increased to 20,530 VND per liter.

Coffee regains 72,500 VND/kg mark

Domestic coffee prices updated at 5:24 a.m. on January 21, 2024 increased again, from 1,300 - 1,400 VND/kg, the highest mark was 72,500 VND/kg, the average price was 72,300 VND/kg in the Central Highlands provinces, the average purchase price in Dak Nong and Dak Lak provinces was 72,400 VND/kg.

Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces is quite high at 72,300 VND/kg; In Dak Nong province, coffee is purchased at the highest price of 71,400 VND/kg.

The price of green coffee beans in Lam Dong province in districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at 71,800 VND/kg.

In Dak Lak province today, in Cu M'gar district, coffee was purchased at 72,400 VND/kg, and in Ea H'leo district, Buon Ho town, it was purchased at the same price of 72,500 VND/kg.