Gold continues to soar; Domestic coffee hits new peak
(Baonghean.vn) - Gold price continues to increase rapidly; Japanese Yen exchange rate continues to increase; World crude oil price changes direction to weaken; Domestic coffee sets new peak, are the market information updated on the morning of March 9.
Gold continues to skyrocket
SJC gold edged up slightly, currently the gold price is anchored near 82 million VND/tael, world gold continues to skyrocket, setting a new record high.
Survey at 5:00 a.m. on March 9, 2024,gold priceon the trading floor of some companies as follows:
The price of 9999 gold today is listed by DOJI at 79.85 million VND/tael for buying and 81.85 million VND/tael for selling.
At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 80.10 - 81.30 million VND/tael (buy - sell).
SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 79.85 - 81.65 million VND/tael (buy - sell).
According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was 2,178.185 USD/ounce. Today's gold price is 19.54 USD/ounce different from yesterday's gold price. Converted according to the current exchange rate at Vietcombank, the world gold price is about 64.038 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 15.862 million VND/tael higher than the international gold price.
Gold prices rose to another record high today as data showing rising US unemployment fueled expectations that the US Federal Reserve (FED) could soon start cutting interest rates.
Japanese Yen exchange rate continues to increase
According to a survey by Industry and Trade Newspaper,At 5:00 a.m. on March 9, 2024, the Yen/VND exchange rate at some banks was as follows:
At Vietcombank,Japanese Yen exchange rateVietcombank has a buying rate of 161.84 VND/JPY and a selling rate of 171.30 VND/JPY, an increase of 0.75 VND in buying and 0.8 VND in selling.
At Vietinbank, the Yen exchange rate increased by 0.56 VND in both buying and selling directions, equivalent to 163.16 VND/JPY and 172.86 VND/JPY.
At BIDV Bank, the Japanese Yen exchange rate increased by 0.31 VND in both buying and selling directions, reaching 162.4 VND/JPY and 171.1 VND/JPY, respectively.
At Agribank, the Japanese Yen exchange rate for buying and selling is 162.6 VND/JPY and 170.97 VND/JPY - an increase of 0.37 VND for buying and an increase of 0.41 VND for selling.
Eximbank decreased 0.28 VND in buying and selling prices, respectively at 163.94 VND/JPY and 168.74 VND/JPY.
At Techcombank, the Japanese Yen exchange rate increased by 0.6 VND in buying and increased by 0.63 VND in selling with prices of 160.79 VND/JPY and 173.28 VND/JPY, respectively.
Sacombank, Japanese Yen exchange rate increased by 0.52 VND in buying and selling price respectively at 165.31 VND/JPY and 170.38 VND/JPY.
Crude oil prices trend downward
According to data from Oilprice, at 8:18 a.m. on March 8 (Vietnam time), Brent oil price was trading at 83.3 USD/barrel, up 0.34 USD, equivalent to 0.41% compared to the previous session. Meanwhile, WTI oil price was at 79.39 USD/barrel, up 0.46 USD, equivalent to 0.58% compared to the previous session.
However, at 8:13 p.m. on March 8 (Vietnam time), Brent oil price fell to 82.61 USD/barrel, down 0.35 USD, or 0.42%, compared to the previous session. WTI oil price was at 78.49 USD/barrel, down 0.44 USD, or 0.56%, compared to the previous session.
Oil prices have fallen on concerns that US interest rates will remain high for a long time.
The speech of US Federal Reserve Chairman Jerome Powell in a hearing before the US House of Representatives on March 6 disappointed many investors when he said that the Fed would not have any interest rate cuts in the first half of this year.
Coffee prices hit new highs
PricecoffeeDomestic prices were updated at 4:12 a.m. on March 9, 2024, continuously increasing "skyrocketingly" in recent trading sessions and setting a new historical price peak, an increase of about 1,800 - 2,100 VND/kg, surpassing the 92,000 VND/kg mark. Currently, the average purchase price in the Central Highlands provinces is 92,000 VND/kg, the highest purchase price in Dak Nong province is 92,200 VND/kg.
Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces is quite high at 91,800 VND/kg; In Dak Nong province, coffee is purchased at the highest price of 92,200 VND/kg.
In Lam Dong province, in districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at 91,000 VND/kg.
In Dak Lak province; in Cu M'gar district, coffee is purchased at 92,000 to 92,100 VND/kg.
High demand and concerns about supply shortages have triggered automatic buying orders from funds and speculators, pushing coffee futures prices on exchanges to a 16-year high, experts said.
