World gold price increased sharply to 1,934.4 USD/oz; USD price continued to soar
(Baonghean.vn) - World gold increased sharply to 1,934.4 USD/oz; USD price today continued to soar; Domestic coffee price increased slightly; Rice export increased by 36.1%, reaching 3.17 billion USD.
World gold increased sharply to 1,934.4 USD/oz
On the morning of August 30 (Vietnam time), the spot gold price on Kitco floor was 1,934.4 USD/oz, up 14.7 USD/oz compared to the beginning of the trading session. Converting the world gold price according to the foreign exchange rate at Vietcombank: 1 USD = 24,350 VND, the world gold price is equivalent to 56.75 million VND/tael, 11.4 million VND/tael lower than the selling price of SJC gold on the morning of August 30.
At the close of trading on August 29, Saigon Jewelry Company listed the buying price of gold at VND67.55 million/tael; the selling price was VND68.15 million/tael, an increase of VND50,000/tael for both buying and selling compared to the opening price of the same day. The difference in the selling price of gold is still VND600,000/tael higher than the buying price.
At the same time, DOJI Group listed the buying and selling price of gold at 67.30 - 68.20 million VND/tael. Compared to the opening of the trading session on August 29, the buying and selling price of gold at DOJI increased by 50,000 VND/tael in both buying and selling directions. The difference between buying and selling prices of gold at DOJI is maintained at 900,000 VND/tael.
Dollar Pricecontinue the galloping momentum
The central USD/VND exchange rate today (August 30) was announced by the State Bank at 23,963 VND/USD, an increase of 3 VND compared to the listed rate on August 29.
USD/VND exchange rate, black market USD price, VCB USD price continue to soar. Meanwhile, the world USD exchange rate has turned to decrease sharply.
Currently, the USD exchange rate that commercial banks are allowed to trade is from 23,400 - 25,111 VND/USD. The selling exchange rate is also adjusted by the State Bank of Vietnam to the buying and selling range of 23,400 - 25,111 VND/USD.
The USD exchange rate at banks and domestic foreign exchange rates this morning recorded a series of upward adjustments at banks. Specifically, Vietcombank increased 115 VND for the buying price of 24,010 and the selling price of 24,350. The buying and selling prices of USD are currently in the range of 23,400 - 25,300 VND/USD.
Domestic coffee prices increased slightly
After many sessions of stable and sideways prices, on August 30, coffee prices started to increase slightly again, increasing by 100 - 200 VND/kg, the highest price in Dak Nong province was 65,900 VND/kg.
Specifically, coffee prices in Gia Lai and Kon Tum provinces stood at 65,300 VND/kg (up 200 VND/kg compared to the previous trading session. In Dak Nong province, the highest coffee purchase price was 65,900 VND/kg (up 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 65,000 VND/kg.
World coffee prices on the London-UK Robusta floor and the ICE US-New York floor continued to be stable, with a slight decrease compared to the most recent trading session.
Arabica coffee prices on the ICE US – New York exchange continued to decrease by less than 1% compared to the most recent trading session. The December 2023 spot futures decreased by 0.40 cents to 152.75 cents/lb, the March 2024 futures decreased by 0.45 cents to 153.85 cents/lb, the May 2024 futures were 154.75 cents/lb and the July 2024 futures were 155.25 cents/lb. Trading volume was below average.
Rice exports increased by 36.1% to reach 3.17 billion USD
According to the latest statistics from the Ministry of Agriculture and Rural Development, in the first 8 months of 2023, rice exports reached 3.17 billion USD, an increase of 36.1% over the same period.
Notably, a series of information on the rice export market continues to have a strong impact on rice export prices. Specifically, recently, the Indian Government announced that it will apply a 20% export tax on parboiled rice. The announcement was made by the Ministry of Finance on August 25, effective immediately and will be applied until October 16 this year.
At the same time, India has also imposed a floor export price of $1,200 per ton for basmati rice. Not only India, Myanmar is also planning to temporarily restrict rice exports to meet domestic consumption. According to the US Department of Agriculture (USDA), Myanmar is the fifth largest rice exporter in the world, selling more than 2 million tons per year.
These moves have directly impacted rice export prices. Data from the Vietnam Food Association (VFA) shows that the price of 5% broken rice in our country is currently maintained at 643 USD/ton, while 25% broken rice is traded at 623 USD/ton. Accordingly, Vietnam's 5% broken rice exports are 13 USD/ton and 35 USD/ton higher than the same type of rice from Thailand and Pakistan, respectively. This is also the highest level in the past 15 years.
The price of 25% broken rice fluctuated in the trading session on August 28. Specifically, this type of Vietnamese rice increased by 5 USD/ton to 628 USD/ton; Thai rice decreased by 2 USD/ton to 563 USD/ton; Pakistani rice also increased by 5 USD to 533 USD, but was still 95 USD/ton lower than the same type of Vietnamese rice.
