Gold plummets; Coffee hits 70,000 VND/kg.

Gold continues to plummet.

At the time of the survey, 5:00 AM on December 30th,YellowDomestic gold prices plummeted sharply, falling by more than 2 million VND/ounce for both buying and selling, currently trading around 76 million VND/ounce.

On the trading floor of several companies, the price of 9999 gold is listed by DOJI at 70.00 million VND/ounce for buying and 76.00 million VND/ounce for selling.

Meanwhile, at Mi Hong Gold and Gemstone Company, the price of SJC gold listed at the time of the survey was 71.00 - 75.00 million VND/ounce (buying price - selling price).

At Bao Tin Minh Chau Co., Ltd., the price of SJC gold is being traded at 70.60 – 74.90 million VND/ounce (buying price - selling price). Meanwhile, at Bao Tin Manh Hai, it is being traded at 70.50 – 76.20 million VND/ounce (buying price – selling price).

On the world market, according to Kitco at 5:00 AM Vietnam time today, the spot price of gold was $2,065.370 per ounce, down $2.975 per ounce compared to yesterday's price. Converted using the current exchange rate at Vietcombank, the world gold price is approximately VND 59.68 million per tael (excluding taxes and fees). Therefore, the price of SJC gold bars is still VND 13.32 million per tael higher than the international gold price.

Oil prices rise, USD recovers.

The global USD price is trending upwards. The DXY index - a measure of strength - is also showing signs of recovery.USDCompared to six major currencies, at 9:47 PM on December 29th (Vietnam time), the index stood at 101.36 points, up 0.13% from the previous session.

USD priceAt commercial banks on December 29th, the exchange rate continued to fall, closing the session around 24,050-24,420 VND/USD (buying - selling).

Fuel pricesToday, December 30th, the international market rose due to a surprising sharp drop in US oil inventories.

According to data from Oilprice, at 8:37 PM on December 29th (Vietnam time), Brent crude oil was trading at $77.47 per barrel, up $0.32, or 0.41%, from the previous session. WTI crude oil was trading at $72.04 per barrel, up $0.22, or 0.31%, from the previous session.

Domestic coffee prices have reached 70,000 VND/kg.

PricecoffeeDomestic prices, updated at 5:12 AM on December 30th, are as follows: Coffee prices have reached the "golden" mark of 70,000 VND/kg. Currently, the average coffee price in the Central Highlands provinces is around 69,800 VND/kg, with the highest purchase price in Dak Lak and Dak Nong provinces at 70,000 VND/kg.

Specifically, the purchase price of coffee in Gia Lai and Kon Tum provinces is quite high at 69,900 VND/kg; in Dak Lak and Dak Nong provinces, coffee is purchased at the highest price of 70,000 VND/kg.

In Lam Dong province, in districts such as Bao Loc, Di Linh, and Lam Ha, the price of bulk green coffee beans (green coffee beans, fresh coffee beans) is 69,200 VND/kg.

Today's coffee prices (December 30th) in Dak Lak province are highest; in Cu M'gar district, coffee is being purchased at 69,900 VND/kg, while in Ea H'leo district and Buon Ho town, it is being purchased at the same rate of 70,000 VND/kg.

According to the Vietnam Coffee and Cocoa Association (VICOFA), domestic coffee prices remain high due to a severe supply shortage, with a shortfall of approximately 1.5-2.5 million bags of coffee in the 2022/2023 crop year under contract, which needs to be met from the current harvest.

According to the Ministry of Industry and Trade, at the end of 2023, world coffee prices reached record highs due to concerns about supply shortages from leading producing countries. In addition, there were worries about supply delays caused by disruptions to the Eurasian shipping route via the Suez Canal.

Meanwhile, Robusta coffee inventories on the ICE Futures Europe exchange stood at 34,050 tons, a sharp decrease of 960 tons compared to the previous session, continuing the downward trend towards the historical lows set at the end of August 2023.