Gold prices plummet; USD exchange rate continues its rapid surge.

Gold continues its sharp decline in price.

SJC GoldThe sharp decline continued, specifically, the largest decrease was 1.1 million VND/ounce for buying and 1.2 million VND/ounce for selling.

As of 5:00 AM on March 23rd, the gold prices on the exchanges of several companies were as follows:

Today, DOJI lists the price of 9999 gold at 77.70 million VND/ounce for buying and 79.70 million VND/ounce for selling.

Meanwhile, at Mi Hong Gold and Gemstone Company, the listed price for SJC gold is 78.00 – 79.30 million VND/ounce (buying price - selling price).

At Bao Tin Minh Chau Co., Ltd., the price of SJC gold is also being traded at 77.30 - 79.20 million VND/ounce (buying price - selling price).

According to Kitco, the spot price of gold in the world market at 5:00 AM Vietnam time today was $2,165.310 USD/ounce, down $15.825 USD/ounce compared to yesterday's price. Converted using the current exchange rate at Vietcombank, the world gold price is approximately VND 63.945 million/ounce (excluding taxes and fees). Therefore, the price of SJC gold bars is still VND 14.005 million/ounce higher than the international gold price.

The USD exchange rate continues to skyrocket.

USD exchange rateToday, March 23rd, the USD exchange rate at VCB continued to increase by 40 dong in both buying and selling directions, while the global USD continued its rapid rise.

The central exchange rate for VND/USD today was announced by the State Bank of Vietnam at 24,003 VND/USD, an increase of 4 dong compared to the trading session on March 22nd.

Currently, the permitted exchange rate for commercial banks ranges from 23,400 to 25,153 VND/USD. The US dollar exchange rate has also been brought within the buying and selling range of 23,400 to 25,153 VND/USD by the State Bank of Vietnam's Exchange Department.

On the global market, the Dollar Index (DXY), which measures the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), closed at 104.43 points – up 0.98% compared to the trading session on March 22nd.

The dollar is heading for a second consecutive weekly gain, after a modest interest rate hike in Japan caused the yen to weaken slightly and an unexpected rate cut in Switzerland highlighted the gap in interest rate policy between the US Federal Reserve and other central banks.

Fuel prices are trending upwards.

On the world market, gasoline and oil prices today, March 23rd, continued their upward trend from the previous session.

According to data from Oilprice, at 8:36 PM on March 22nd (Vietnam time), Brent crude oil was trading at $86 per barrel, up $0.20, or 0.26%, from the previous session. WTI crude oil was trading at $81.31 per barrel, up $0.24, or 0.3%, from the previous session.

Analysts believe that oil prices recovered amid concerns that geopolitical tensions would disrupt supply. According to Reuters' calculations, Ukraine's attacks on Russian oil refineries reduced Russia's refining capacity by 7%, equivalent to approximately 370,500 barrels of oil per day.

Analysts suggest that prolonged disruptions could force Russian producers to reduce supply if they are unable to export crude oil and face inventory constraints.

Domestic coffee prices reach new highs.

Coffee pricesDomestic prices, updated at 5:24 AM on March 23rd, have increased by 1,100 VND/kg and are currently at a very high level. The average purchase price in the Central Highlands provinces is currently 95,000 VND/kg, with the highest price in Dak Nong province at 95,200 VND/kg.

Specifically, the purchase price of coffee in Gia Lai and Kon Tum provinces is quite high at 95,000 VND/kg; in Dak Nong province, the highest purchase price is 95,200 VND/kg.

The price of bulk green coffee beans (green coffee beans, fresh coffee beans) in Lam Dong province, in districts such as Bao Loc, Di Linh, and Lam Ha, is being purchased at 94,600 VND/kg.

In Dak Lak province, coffee is being purchased at approximately 94,900 to 95,000 VND per kilogram.