Gold plummets; Coffee hits 70,000 VND/kg

Gold continues to plummet

At the time of survey at 5:00 a.m. on December 30,YellowDomestic prices plummeted, down more than 2 million VND/tael in both buying and selling directions, currently trading around 76 million VND/tael.

On the trading floors of some companies as follows: DOJI listed the price of 9999 gold at 70.00 million VND/tael for buying and 76.00 million VND/tael for selling.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 71.00 - 75.00 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 70.60 - 74.90 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 70.50 - 76.20 million VND/tael (buy - sell).

In the world market, according to Kitco, at 5:00 am today, Vietnam time, the spot price was 2,065.370 USD/ounce, down 2,975 USD/ounce compared to yesterday's gold price. Converted according to the current exchange rate at Vietcombank, the world gold price is about 59.680 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 13.32 million VND/tael higher than the international gold price.

Oil rises, USD recovers

World USD price tends to recover. DXY index - measures strengthUS dollarCompared to 6 major currencies - at 9:47 p.m. on December 29, Vietnam time, it was at 101.36 points, up 0.13% from the previous session.

USD priceat commercial banks on December 29 still decreased, listed at the end of the session around 24,050-24,420 VND/USD (buy - sell).

Gasoline pricesToday, December 30, international markets rose due to a sudden sharp drop in US oil inventories.

According to data from Oilprice, at 8:37 p.m. on December 29 (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 at $72.04 per barrel, up $0.22, or 0.31%, from the previous session.

Domestic coffee prices hit 70,000 VND/kg

PricecoffeeDomestic coffee prices were updated at 5:12 a.m. on December 30 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 about 69,800 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces is 70,000 VND/kg.

Specifically, the coffee purchase price 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.

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 69,200 VND/kg.

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

The Vietnam Coffee and Cocoa Association (VICOFA) said that domestic coffee prices remain high due to a severe supply shortage, with a shortage of about 1.5 - 2.5 million bags of coffee in the 2022/2023 crop year according to contracts and need to be met from the current harvest.

The Ministry of Industry and Trade informed that by the end of 2023, world coffee prices will reach a record high due to concerns about supply shortages from the world's leading producing countries. In addition, there are concerns about supply delays as the Europe-Asia shipping route through the Suez Canal is disrupted.

Meanwhile, Robusta coffee inventories on the ICE Futures Europe exchange stood at 34,050 tonnes, down sharply by 960 tonnes from the previous session, continuing the downward trend to a historic low set at the end of August 2023./.