SJC gold falls to 67.1 million VND; Natural gas price increases 1.52%

SJC gold price drops to 67.1 million VND

Gold price today 6/5, domestic gold price decreased slightly, with JSC gold price currently at 67.10 million VND/tael (selling). Meanwhile, world gold price decreased sharply, currently at 2016 USD.

At the time of survey at 5:00 a.m. on May 6, on the trading floor of Saigon Jewelry Company SJC, SJC gold was 66.50 million VND/tael for buying and 67.10 million VND/tael for selling.

SJC gold price today dropped to 67.1 million VND; Meanwhile, world gold price dropped sharply, currently at 2016 USD.

At Phu Quy Jewelry Company, at the time of survey, the listed price of SJC gold was at 66.60 - 67.20 million VND/tael (buy - sell).

DOJI listed the price of 9999 gold at 66.55 million VND/tael for buying and 67.15 million VND/tael for selling.

Vietinbank Gold price is listed at 66.50 million VND/tael for buying and 67.12 million VND/tael for selling.

The price of SJC gold at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 66.60 - 67.15 million VND/tael (buy - sell). The price of 24K Rong Thang Long gold of Bao Tin Minh Chau is listed at 56.33 - 57.33 million VND/tael.

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was 2,016.790 USD/ounce. Converted according to the current exchange rate at Vietcombank, the world gold price is about 57.14 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 9.96 million VND/tael higher than the international gold price. Meanwhile, the US gold futures price decreased by 1.5%, to 2,024.30 USD.

Natural gas prices rose 1.52%

Gas price today, May 6, the last trading session of the week, natural gas price regained positive signals, increased 1.52%, reaching 2.133 USD/mmBTU.

Amid lingering production concerns, tight inventories and surging demand in Europe, U.S. natural gas prices have surged 50% since the start of the conflict in Ukraine, as European countries scramble to replace Russian natural gas, keeping LNG exports near record levels.

The market has rallied since late April through this week on growing concerns about weakening global and US supplies, as the cooling season approaches and US export demand surges to near-record levels amid the Russia-Ukraine conflict.

Domestic gas prices increased slightly.

In the domestic market, retail gas prices have slightly increased since May 1 after two consecutive months of sharp decline.

Specifically, the gas price of Pacific Petroleum Trading Joint Stock Company increased by VND2,000/12kg cylinder and VND8,000/50kg cylinder. Accordingly, the retail gas price to consumers is a maximum of VND438,500/12kg cylinder and VND1,826,000/50kg cylinder.

Petrolimex retail gas cylinder price (including VAT) in May 2023 in Hanoi market is 406,600 VND/12 kg household cylinder; 1,626,300 VND/48 kg industrial cylinder, respectively increasing by 1,360 VND/12 kg cylinder and 5,340 VND/48 kg cylinder (including VAT).

Southern Vietnam LPG Trading Joint Stock Company increased by 167 VND/kg (including VAT), equivalent to 2,000 VND/12kg cylinder and 7,500 VND/45kg cylinder compared to last month. The maximum retail gas price is 420,000 VND/12kg cylinder, about 1,575,000 VND/45kg cylinder, applied from May 1.

Similarly, Saigon Petro Company (SP gas) also increased the price by VND2,000/12 kg cylinder but the maximum retail price is VND401,000/cylinder.

According to gas companies, because the world gas price in April was 555 USD/ton, an increase of 5 USD/ton compared to the previous month, the companies adjusted the price accordingly.

Thus, after two consecutive months of decrease, gas price in May turned to increase slightly. Since the beginning of the year, gas price has decreased for three months with a total of 97,000 - 101,000 VND/12kg cylinder and increased for two months with a total of 65,000 VND/12kg cylinder.

Pig pricefluctuation of 1,000 VND/kg

Pig price today, May 6, fluctuated by 1,000 VND/kg in some localities across the country. The market expects pig price to increase slightly in the second quarter of 2023.

In the Northern region, the price of live pigs today fluctuated by 1,000 VND/kg and fluctuated between 52,000 - 54,000 VND/kg. Specifically, after both increasing by 1,000 VND/kg, in Phu Tho province, the price of live pigs was recorded at 53,000 VND/kg while in Hung Yen province, traders were purchasing at 54,000 VND/kg. On the contrary, in Bac Giang, the price of live pigs today decreased by 1,000 VND/kg and was recorded at 53,000 VND/kg. Other localities in the region did not record price fluctuations and fluctuated between 52,000 - 53,000 VND/kg.

Due to economic difficulties, it is forecasted that in the coming time, pork consumption will decrease.

In the Central Highlands region, the price of live pigs today was adjusted up slightly and fluctuated between 51,000 - 54,000 VND/kg. In particular, after increasing by 1,000 VND/kg compared to yesterday, live pigs in Quang Ngai province were purchased at 54,000 VND/kg - equal to Lam Dong province. Other localities did not record price fluctuations. In particular, Quang Binh province continued to trade at the lowest level in the region at 51,000 VND/kg. Other localities in the region recorded prices in the range of 52,000 - 53,000 VND/kg.

In the Southern region, the price of live pigs today did not record many fluctuations and fluctuated between 52,000 - 55,000 VND/kg. In particular, after decreasing by 1,000 VND/kg, live pigs in Soc Trang province were purchased at 52,000 VND/kg. Other localities did not record new fluctuations, in which, traders in Dong Nai and Vung Tau maintained live pig transactions at 54,000 VND/kg. Long An province continued to purchase live pigs at 55,000 VND/kg - the highest in the region. The remaining localities are trading at 52,000 - 53,000 VND/kg.

After a price decline in the first quarter of 2023, domestic pig prices are expected to increase again from mid-April 2023. Currently, pig prices in provinces and cities are trading around 51,000 - 54,000 VND/kg. The recent increase in pig prices is due to people's high demand for food and travel during the April 30 - May 1 holidays.

However, due to economic difficulties, people still tend to save on spending. Along with that, the number of workers and laborers has decreased income, so pork consumption is expected to decrease.

Domestic coffee prices slightly decreased

Domestic coffee prices today, May 6, slightly decreased by VND200/kg compared to yesterday, fluctuating from VND51,600 - VND52,400/kg.

Specifically, 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 a price of 51,500 - 51,600 VND/kg.

Coffee prices in Gia Lai and Kon Tum provinces stood at 52,200 VND/kg.

In Dak Nong province, coffee is purchased at 52,300 VND/kg.

Today's coffee price in Dak Lak province decreased by 200 VND/kg, in Cu M'gar district, the coffee price is currently at 52,300 VND/kg. In Ea H'leo district, Buon Ho town, the price is 52,400 VND/kg.

Domestic coffee prices fell slightly.

For world coffee prices, coffee prices on the two exchanges continued to decline.

Specifically, at the end of the most recent trading session, Robusta coffee prices on the London floor continued to decline. The July spot futures fell by $12 to $2,412/ton and the September futures fell by $10 to $2,391/ton, both significant declines. Trading volume was very low below average. The inverse price structure narrowed the gap.

Similarly, Arabica coffee prices on the New York floor followed the downward trend. The July spot futures fell another 2.55 cents to 182.95 cents/lb and the September futures fell another 2.35 cents to 180.50 cents/lb, both significant declines. Trading volume was above average.