Domestic gold price increases sharply; World crude oil price plummets

Domestic and world gold prices go in opposite directions

Domestic gold increased by 300,000 VND/tael, while world gold reversed and decreased sharply. Survey at 5:00 a.m. on February 3,gold priceon the trading floor of some companies as follows:

DOJI listed the price of 9999 gold at 76.05 million VND/tael for buying and 78.45 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 76.90 - 77.90 million VND/tael (buy - sell).

Bao Tin Minh Chau Company Limited was also traded by the enterprise at 76.25 - 78.35 million VND/tael (buy - sell).

Meanwhile, the world gold price recorded at 5:00 a.m. today, Vietnam time, was 2,037.880 USD/ounce. The gold price in today's trading session decreased by 17.655 USD/ounce compared to the gold price in yesterday's trading session. Converted according to the current exchange rate at Vietcombank, the world gold price is about 59.082 million VND/tael. Thus, the price of SJC gold bars is still 17.118 million VND/tael higher than the international gold price.

Japanese Yen exchange rate suddenly dropped sharply

According to a survey by Cong Thuong Newspaper, the Japanese Yen exchange rate today (February 3) decreased sharply, specifically at some banks as follows:

At Vietcombank,Vietcombank Japanese Yen exchange rate has buying rate of 160.92 VND/JPY and selling rate of 170.32 VND/JPY, down 0.46 VND in buying and down 0.49 VND in selling.

At BIDV Bank, the Japanese Yen exchange rate decreased by 0.31 VND in buying and decreased by 0.35 VND in selling, reaching 161.97 VND/JPY and 170.54 VND/JPY, respectively.

At Techcombank, the Japanese Yen exchange rate decreased by 0.37 VND in buying and 0.35 VND in selling with prices of 159.30 VND/JPY and 170.33 VND/JPY, respectively.

At Sacombank, the Japanese Yen exchange rate decreased by 0.55 VND in buying and decreased by 0.58 VND in selling, corresponding to the prices of 163.75 VND/JPY and 168.83 VND/JPY.

At NCB Bank, the Japanese Yen exchange rate is 161.90 VND/JPY for buying and 168.82 VND/JPY for selling (corresponding to a decrease of 0.17 VND for buying and a decrease of 0.12 VND for selling).

World oil and gas prices plummet

On February 2, the pricegasolineincreased at the beginning of the session but then reversed and went down.

According to data from Oilprice, at 8:51 p.m. on February 2 (Vietnam time), Brent crude oil was trading at $78.2 per barrel, down $0.5, or 0.62%, from the previous session. WTI crude oil was trading at $73.29 per barrel, down $0.53, or 0.72%, from the previous session.

Analysts say that oil prices have plummeted due to investors' cautious sentiment.

The latest move by the Organization of the Petroleum Exporting Countries and its allies (also known as OPEC+) in an online meeting on February 1 was quite lackluster, when the group's ministers did not make any policy changes.

OPEC+'s policy of maintaining the same level of policy has made investors pessimistic about the market's supply and demand factors and put pressure on prices.

However, OPEC+ is having some impact suggesting that it will cut production this quarter.

Domestic coffee prices slightly decreased

Domestic coffee prices were updated at 4:24 a.m. on February 3, slightly down, currently averaging 78,900 VND/kg in the Central Highlands provinces, with the highest purchase price in Dak Nong province at 79,500 VND/kg.

Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces is quite high at 78,800 VND/kg; In Dak Nong province, the highest purchase price is 79,500 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 78,200 VND/kg.

Coffee price today (February 3) in Dak Lak province today in Cu M'gar district is purchased at 78,900 VND/kg, and in Ea H'leo district, Buon Ho town is purchased at the same price of 79,000 VND/kg./.