Gold continues to rise; Coffee prices continue to fall
(Baonghean.vn) - Gold price continues to increase, reaching 71 million VND/tael; Japanese Yen exchange rate inched up slightly; Domestic coffee price continued to decrease, are market information on October 29.
Gold price reaches 71 million VND/tael
PriceYellowToday (October 29), the world market increased again, while the domestic gold price reached 71 million VND/tael.
At the end of the session on October 28, the price of 9999 gold bars at SJC Ho Chi Minh City was 70.15 million VND/tael (buy) and 70.95 million VND/tael (sell). SJC Hanoi listed at 70.15 million VND/tael (buy) and 70.97 million VND/tael (sell).
DOJI Hanoi listed at 70.1 million VND/tael (buy) and 71 million VND/tael (sell). DOJI Ho Chi Minh City bought SJC gold at 70 million VND/tael and sold at 71 million VND/tael.
On the world market, on Kitco floor (at 8:00 p.m., Vietnam time) it was trading at 2,005 USD/ounce.
According to the CME FedWatch Tool, the market sees a near 100% chance that the US Federal Reserve (Fed) will keep interest rates unchanged at 5.25% to 5.50%. At the same time, the Fed is expected to maintain tight monetary policy in the near term.
Chairman Jerome Powell has signaled that interest rates could remain steady at next week’s meeting. The agency wants more time to assess the impact of current rates on the economy.
The core personal consumption expenditures (PCE) price index, the Fed's preferred inflation gauge, rose 3.7% in September, down from a 3.8% increase in August. It was the second straight month that the core PCE index was below 4%, suggesting inflation is on track.
Geopolitical uncertainty and debt concerns will support safe-haven demand in the near term, strategists say, with a close above $2,000 an ounce likely to signal a move toward a new high.
Japanese Yen edged up slightly but remained at low levels
Today (October 29),Japanese Yen Exchange RateThe black market edged up slightly. In the banking system, the highest Japanese Yen prices were 160.92 VND/JPY for buying and 165.51 VND/JPY for selling.
In the black market in Hanoi, a survey of the black market showed that the Japanese Yen/VND exchange rate increased by 0.33 VND in both buying and selling directions, trading at 163.59 VND/JPY for buying and 164.59 VND/JPY for selling, respectively.
Yen Trend Forecast: Most Asian currencies were little changed as markets eased ahead of a series of major central bank meetings next week, while the Japanese yen edged up on strong inflation data but remained near a one-year low.
The yen rose 0.1 percent after data showed the U.S. economy grew more than expected in the third quarter, showed consumer inflation in the Japanese capital rose more than expected in October, and forecast a similar rise in nationwide inflation.
Domestic coffee prices continue to fall
PricecoffeeDomestic coffee prices were updated at 4:40 a.m. on October 29, down 500 VND/kg. Currently, the average coffee price in the Central Highlands provinces fluctuates around 59,300 VND/kg.
Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces on October 29 was VND59,200/kg. In Dak Nong province, coffee was purchased at VND59,500/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 58,700 VND/kg.
In Dak Lak province today, in Cu M'gar district, coffee price is currently at 59,500 VND/kg. In Ea H'leo district, Buon Ho town, it is purchased at the same price of 59,600 VND/kg./.
