Gold continues to increase 'exponentially'; Japanese Yen plummets at the end of the week

Gold continues to increase "exponentially"

SJC gold continues to increase rapidly, surpassing the 90 million VND/tael mark, while world gold prices increase to set a new record.

At the time of survey at 5:00 a.m. on May 19, 2024,gold priceon the trading floor of some companies as follows:

Today, DOJI's 9999 gold price is listed at 87.70 million VND/tael for buying and 89.80 million VND/tael for selling.

At Mi Hong Gold and Gemstone Company, at the time of survey, the listed price of SJC gold was at 88.50 - 90.20 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 87.85 - 90.10 million VND/tael (buy - sell).

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,414.50 USD/ounce. Converted according to the current exchange rate at Vietcombank, the world gold price is about 73.159 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 14.541 million VND/tael higher than the international gold price.

Gold surpassed $2,400 an ounce on the final day of the week, setting a new record, thanks to growing expectations of a rate cut by the US Federal Reserve (FED), solid central bank buying and safe-haven demand.

Japanese Yen "plummeted" at the end of the week

Japanese Yen Exchange RateThe black market Yen exchange rate fluctuated up and down on the weekend after the BoJ's actions.

Japanese Yen exchange rate surveyed on the morning of May 19, 2024 at banks, specifically as follows:

At Vietcombank,Vietcombank Japanese Yen exchange rate is 158.48 VND/JPY and the selling rate is 167.74 VND/JPY.

Vietinbank, Yen exchange rate is equivalent to 159.26 VND/JPY for buying and 168.96 VND/JPY for selling.

At BIDV Bank, the Japanese Yen exchange rate reached 158.73 VND/JPY for buying and 166.39 VND/JPY for selling.

Agribank, the Japanese Yen buying and selling rates are 159.51 VND/JPY and 167.51 VND/JPY.

At Eximbank, the buying price is 160.29 VND/JPY and the selling price is 165.67 VND/JPY.

At Techcombank, the Yen exchange rate is 156.8 VND/JPY for buying and 169.17 VND/JPY for selling.

As for Sacombank, the Japanese Yen exchange rate corresponds to 161.21 VND/JPY for buying and 166.26 VND/JPY for selling.

Surveyed in the black market, the Japanese Yen/VND exchange rate increased by 0.16 VND in the buying direction and decreased by 0.04 VND in the selling direction, respectively traded at 165.50 VND/JPY in the buying direction and 166.50 VND/JPY in the selling direction.

Coffee prices continue to rise

Domestic coffee prices updated at 4:30 a.m. on May 19, 2024 continued to increase, an increase of 1,500 - 2,000 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 103,800 VND/kg, the highest purchase price in Dak Nong province is 104,000 VND/kg.

Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces is 103,400 VND/kg; In Dak Nong province, coffee is purchased at 104,000 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 103,300 VND/kg.

In Dak Lak province, coffee is purchased at about 103,800 VND to 103,900 VND/kg.