Gold price drops sharply; USD exchange rate continues to increase rapidly

Gold prices continue to fall sharply

SJC Goldcontinued to decline sharply, specifically, the biggest decrease in buying price was 1.1 million VND/tael and selling price was 1.2 million VND/tael.

At the time of survey at 5:00 a.m. on March 23, the gold price on the trading floors of some companies was as follows:

The price of 9999 gold today is listed by DOJI at 77.70 million VND/tael for buying and 79.70 million VND/tael for selling.

At Mi Hong Jewelry Company, the listed price of SJC gold is at 78.00 - 79.30 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 77.30 - 79.20 million VND/tael (buy - sell).

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was 2,165,310 USD/ounce, down 15,825 USD/ounce compared to yesterday's gold price. Converted according to the current exchange rate at Vietcombank, the world gold price is about 63,945 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 14,005 million VND/tael higher than the international gold price.

USD exchange rate continues to increase rapidly

USD exchange rateToday, March 23, VCB USD continued to increase by 40 VND in both buying and selling directions, while the world USD continued to increase rapidly.

The central VND/USD exchange rate announced by the State Bank today is adjusted to 24,003 VND/USD, an increase of 4 VND compared to the trading session on March 22.

Currently, the exchange rate allowed for trading by commercial banks ranges from 23,400 - 25,153 VND/USD. The US Dollar exchange rate has also been brought to the buying and selling range by the State Bank Exchange from 23,400 to 25,153 VND/USD.

In the world market, the Dollar Index (DXY), which measures the USD against 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stopped at 104.43 points - up 0.98% compared to the transaction on March 22.

The dollar was headed for a second week of gains, after a modest rate hike in Japan sent the yen lower and a surprise cut in Switzerland highlighted the gap in interest rate policy between the US Federal Reserve and other central banks.

Gasoline prices tend to go up

In the world market, gasoline prices today, March 23, continued the upward trend from the previous session.

According to data from Oilprice, at 8:36 p.m. on March 22 (Vietnam time), Brent oil price was trading at 86 USD/barrel, up 0.2 USD, equivalent to 0.26% compared to the previous session. Meanwhile, WTI oil price was at 81.31 USD/barrel, up 0.24 USD, equivalent to 0.3% compared to the previous session.

Oil prices rebounded amid concerns that geopolitical tensions could disrupt supplies, analysts said. According to Reuters calculations, Ukraine's attacks on Russian refineries have reduced Russia's refining capacity by 7%, equivalent to about 370,500 barrels of oil per day.

Analysts say a prolonged disruption could force Russian producers to reduce supplies if they are unable to export crude and face storage constraints.

Domestic coffee climbs to new peak

Coffee pricesDomestic price was updated at 5:24 am on March 23, increased to 1,100 VND/kg and is at a very high level. Currently, the average purchase price in the Central Highlands provinces is 95,000 VND/kg, the highest purchase price in Dak Nong province is 95,200 VND/kg.

Specifically, the coffee purchase price 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 green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province in districts such as Bao Loc, Di Linh, Lam Ha is purchased at 94,600 VND/kg.

In Dak Lak province, coffee is purchased at about 94,900 VND to 95,000 VND/kg.