Gold price remains at peak; Domestic coffee price drops sharply

Gold maintains peak at weekend session

At the time of survey at 5:00 a.m. on December 24, 2023,gold priceStill holding at a high level, on the trading floor of some companies as follows:

Today's 9999 gold price is listed by DOJI at 75.70 million VND/tael for buying and 77.00 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 75.80 - 76.70 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 75.85 - 76.95 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 75.60 - 77.20 million VND/tael (buy - sell).

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,053,200 USD/ounce. Converted according to the current exchange rate at Vietcombank, the world gold price is about 59,279 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 16,421 million VND/tael higher than the international gold price.

Gold Price Forecast:

Tai Wong, an expert in New York, said that gold prices received a boost from the possibility of interest rate cuts in March 2024.

Gold prices will continue to be supported by weaker Treasury yields and the greenback, as well as concerns about an economic recession, said Phillip Streible, chief market strategist at Blue Line Futures.

Technically, gold prices could rise to $2,100 an ounce. The precious metal could retest recent records.

Japanese Yen exchange rate continues to increase

According to a survey by the Industry and Trade Newspaper, the exchange rateJapanese YenToday, Eximbank is the bank with the highest buying rate of Japanese Yen and Agribank is the bank with the lowest selling rate among the banks.

At some other banks, specifically as follows:

Vietcombank,Vietcombank Japanese Yen exchange rate has buying rate of 165.38 VND/JPY and selling rate of 175.07 VND/JPY, up 0.6 VND in buying and up 0.64 VND in selling.

At Vietinbank, the Yen exchange rate increased by 0.47 VND in both buying and selling directions, equivalent to 166.44 VND/JPY and 176.14 VND/JPY.

At BIDV Bank, the Japanese Yen exchange rate increased by 0.45 VND in buying and increased by 0.51 VND in selling, reaching 166.49 VND/JPY and 175.27 VND/JPY, respectively.

At Techcombank, the Japanese Yen exchange rate increased by 0.72 VND in buying and increased by 0.85 VND in selling with prices of 163.75 VND/JPY and 174.89 VND/JPY, respectively.

At Sacombank, the Japanese Yen exchange rate increased by 0.59 VND in the buying and selling directions, corresponding to the prices of 167.92 VND/JPY and 174.47 VND/JPY.

At NCB Bank, the Japanese Yen exchange rate is 166.40 VND/JPY for buying and 173.35 VND/JPY for selling (corresponding to an increase of 0.63 VND for buying and an increase of 0.7 VND for selling).

Domestic coffee prices fall sharply

PricecoffeeDomestic coffee prices were updated at 4:24 a.m. on December 24, 2023, falling sharply after the previous trading session, down from 1,700 - 1,800 VND/kg. Currently, the average coffee price in the Central Highlands provinces is about 67,800 VND/kg, the highest purchase price in Dak Nong province is 68,000 VND/kg.

Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces is at 67,800 VND/kg (down 1,800 VND/kg); coffee in Dak Nong province is purchased at the highest price of 68,0000 VND/kg (down 1,800 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 67,200 VND/kg (down 1,700 VND/kg).

Today's coffee price in Dak Lak province is purchased at a fairly high level. In Cu M'gar district, coffee is purchased at 67,900 VND/kg, while in Ea H'leo district and Buon Ho town, it is purchased at the same price of 68,000 VND/kg (down 1,700 VND/kg).