Gold to fall next week; Coffee prices sideways

Gold is expected to fall next week.

Gold priceToday, September 10, the world market ended a week of price declines, while domestic gold prices remained high at nearly 69 million VND/tael.

At the end of the trading session on September 9, the price of 9999 gold bars at SJC Ho Chi Minh City was 68.1 million VND/tael (buy) and 68.8 million VND/tael (sell). Doji Ho Chi Minh City bought SJC gold at 68.1 million VND/tael and sold at 68.8 million VND/tael.

In the world market, the spot gold price on Kitco closed the weekend trading session at 1,918 USD/ounce.

The latest Kitco News weekly gold survey found that a majority of investors are bearish on gold next week.

Expert Carlo Alberto De Casa at Kinesis Money said that the strength of the USD, along with the recovery of US Treasury bond yields put pressure on gold.

Expert James Stanley, market strategist at Forex, commented that the US consumer price index (CPI) and producer price index (PPI) data for August are the decisive factors for gold prices next week.

Coffee prices remain stable

PricecoffeeDomestic prices updated at 4:20 a.m. September 10, 2023 are stable and slightly decreased; prices in Gia Lai, Kom Tum, Lam Dong provinces remain unchanged, prices in Dak Lak and Dak Nong provinces decrease by 100 VND/kg.

Specifically, coffee prices in Gia Lai and Kon Tum provinces stood at 64,900 VND/kg. In Dak Nong province, coffee was purchased at 65,400 VND/kg (down 100 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 64,500 VND/kg.

Coffee price today in Dak Lak province today in Cu M'gar district, coffee price is currently at 65,100 VND/kg. In Ea H'leo district, Buon Ho town, it is purchased at the same price of 65,200 VND/kg.

Pig price turns down

According to the report of the DepartmentImport and export(Ministry of Industry and Trade), in August 2023, the price of live pigs nationwide tends to decrease, falling below 60,000 VND/kg.

Currently, the price of live pigs in the Northern region fluctuates at 58,000-59,000 VND/kg; in the Central and Central Highlands regions it has decreased to 55,000-58,000 VND/kg; in the Southern region it is 56,000-59,000 VND/kg.

According to Mr. Nguyen Kim Doan, Vice President of Dong Nai Livestock Association, from the beginning of June to the end of July, the price of live pigs increased sharply. But from August until now, this item has turned to decrease rapidly. In addition, the price of pigs was at a low level for a long time before that, causing small-scale farmers to hang up their pigsties, the number of herds restored was low, and the supply decreased.

The reason for the price drop is that it is the seventh lunar month (the vegetarian season), which according to market rules is the time when pork consumption is at its lowest of the year. Consumption at schools is also low due to summer break. However, this price is still much higher than at the beginning of this year.

In the context of falling pork prices with no signs of recovery, the consumption market is slow but pork imports are still increasing strongly./.