Domestic gold fell sharply at the end of the week; USD continued to recover

Domestic gold fell sharply at the end of the week

SJC gold reversed and decreased sharply at the end of the week, while world gold recorded a weekly increase of more than 3%.

At the time of survey at 5:00 a.m. on May 12, 2024,gold priceon the trading floor of some companies as follows:

DOJI listed the price of 9999 gold at 87.70 million VND/tael for buying and 89.20 million VND/tael for selling.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 86.80 - 89.30 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 87.80 - 90.10 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 86.00 - 90.30 million VND/tael (buy - sell).

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,360.22 USD/ounce. Converted according to the current exchange rate at Vietcombank, the world gold price is about 71,327 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 17,473 million VND/tael higher than the international gold price.

USD continues to recover

USD exchange rateToday, May 12, 2024, continued to move sideways, while the world USD recorded a recovery above 105 points at the end of the trading week.

The central VND/USD exchange rate today (May 12) was announced by the State Bank to be adjusted to 24,271 VND/USD, an increase of 6 VND compared to the trading session on May 10.

Currently, the exchange rate allowed for trading by commercial banks fluctuates from 23,400 - 25,450 VND/USD. The US Dollar exchange rate has also been brought to the buying and selling range of 23,400 to 25,450 VND/USD by the State Bank Exchange.

The Dollar Index, which measures the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stopped at 105.31 points – up 0.08% compared to trading on May 10.

The Dollar Index recovered above 105.3 on the day and is on track to end the week about 0.3% higher, as traders digest key economic data and cautious comments from US Federal Reserve officials on interest rate cuts.

Japanese Yen exchange rate fell nearly 2% last week

Japanese Yen Exchange Ratecontinued to decline, recording a decrease of nearly 2% last week. Surveyed on the morning of May 12, 2024 at banks, specifically as follows:

At Vietcombank,Vietcombank Japanese Yen exchange rate is 158.55 VND/JPY for buying and 167.81 VND/JPY for selling.

At Vietinbank, the buying and selling rates of Yen are 160.21 VND/JPY and 168.16 VND/JPY respectively.

At BIDV Bank, the Japanese Yen exchange rate reached 158.54 VND/JPY and 166.9 VND/JPY respectively.

Agribank, the Japanese Yen buying and selling rates are 159.62 VND/JPY and 167.62 VND/JPY.

At Eximbank, the buying price is 160.51 VND/JPY and the selling price is 165.79 VND/JPY.

Techcombank, Japanese Yen exchange rate is 156.74 VND/JPY for buying and 169.12 VND/JPY for selling.

At Sacombank, the Japanese Yen exchange rate is 161.47 VND/JPY for buying and 166.48 VND/JPY for selling.

Domestic coffee prices increased slightly

Domestic coffee prices were updated at 5:10 a.m. on May 12, 2024, increasing slightly by VND 5.00/kg. Currently, the average purchase price in the Central Highlands provinces is VND 99,300/kg, the highest purchase price in Dak Nong and Dak Lak provinces is VND 99,500/kg.

Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces is at 99,000 VND/kg; In Dak Nong province, coffee is purchased at the highest price of 99,000 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 98,500 VND/kg.

In Dak Lak province, coffee is purchased from about 99,500 VND to 99,600 VND/kg.