Gold price today (August 7): World gold continues to increase
The world spot gold price this morning (August 7, Vietnam time) on Kitco is at 1,943 USD/oz, 1 USD/oz higher than the previous trading session. Converting the world gold price according to the foreign exchange rate at Vietcombank: 1 USD = 23,890 VND, the world gold price is equivalent to 55.92 million VND/tael, 11.38 million VND/tael lower than the SJC gold price sold at the end of August 6.
Domestically, at the end of the trading session on August 6, Saigon Jewelry Company listed the price at 66.6 million VND/tael; the selling price was 67.3 million VND/tael. Compared to the closing session of the weekend, the SJC gold price remained the same in both buying and selling directions. The difference between the buying and selling price of SJC gold is 600,000 VND/tael.
At the same time, DOJI Group listed the buying and selling price of gold at 66.55 - 67.3 million VND/tael, unchanged in both buying and selling prices compared to the previous trading session. The difference in buying and selling prices of DOJI gold is currently 750,000 VND/tael.
At the end of the afternoon of August 6 (Vietnam time), the spot gold price on Kitco was 1,942.6 USD/oz, down 4.7 USD/oz compared to the previous trading session.
Converting world gold price according to foreign exchange rate at Vietcombank: 1 USD = 23,890 VND, world gold price is equivalent to 55.91 million VND/tael, 11.39 million VND/tael lower than SJC gold selling price.
Rice prices continue to increase
Rice prices today (August 7) in the domestic market continued to increase. The summer-autumn rice market was bustling.
Accordingly, in An Giang, according to the update of the Department of Agriculture and Rural Development, the price of OM 5451 rice is at 7,000 - 7,300 VND/kg; Nang Hoa 9 is at 7,200 - 7,600 VND/kg; IR 504 rice is at 6,800 - 7,000 VND/kg; Dai Thom 8 rice is at 6,900 - 7,100 VND/kg; Nhat rice is also stable at 7,800 - 8,000 VND/kg; Nang Nhen rice (dry) is at 13,000 VND/kg; OM 18 is at 6,900 - 7,100 VND/kg.
For sticky rice, the price of fresh An Giang sticky rice is at 6,300 - 6,600 VND/kg; Long An sticky rice (fresh) is at 6,500 - 6,900 VND/kg; Long An sticky rice (dried) is at 7,700 - 7,900 VND/kg.
Meanwhile, rice prices in some localities such as Soc Trang, Hau Giang, Tien Giang, Kien Giang, Can Tho, rice prices continue to increase.
Regarding rice, the price of raw rice is at 12,100 VND/kg; finished rice is at 14,100 VND/kg. The price of by-products remains stable.
From now until the end of the year, the demand for rice imports from other countries is still very large. This is an opportunity for Vietnam to produce and export this product, but it is also necessary to closely assess the risks of the export market.
Pepper prices in the domestic market today stagnated.
Pepper prices today (August 7) in the domestic market have slowed down after many sessions of increasing. Accordingly, pepper prices in the Central Highlands fluctuate around 71,000 - 72,000 VND/kg.
In the Southeast region, pepper prices are stable at 72,500 - 74,500 VND/kg. Specifically, in Ba Ria Vung Tau, pepper prices today are at 74,500 VND/kg, Dong Nai pepper prices are at 72,500 VND/kg. Binh Phuoc pepper prices are at 73,500 VND/kg.
Thus, today's pepper price in the domestic market has leveled off after many sessions of upward adjustment. The domestic pepper market has just experienced a week of strong increases.
Statistics show that Vietnam's pepper exports in July 2023 continued to be gloomy, reaching only 16,000 tons with a turnover of 59 million USD, down 14.3% in volume and 25.1% in turnover compared to the same period in 2022. This is the lowest export volume in the past 5 months.
The bright spot is that the average export price of pepper in July 2023 continued to increase by 2.1% compared to June 2023, reaching 3,688 USD/ton - the highest level since November 2022. After 2 months of decline, many experts predict that exports will increase again in August 2023.
Thai jackfruit price in Tien Giang increases "shockingly"
According to the latest records, the price of Thai jackfruit continues to increase by 6,000 VND/kg. In just 2 days, the price of jackfruit increased by 6,000 - 11,000 VND/kg.
Today's Thai jackfruit prices in Tien Giang are quoted by the warehouses: First Jackfruit 46,000 VND/kg, Second Jackfruit 44,000 VND/kg, Large Kem Jackfruit 44,000 VND/kg, Small Kem Jackfruit 34,000 VND/kg, Third Kem Jackfruit 12,000 VND/kg, this type of jackfruit has not increased in price.
In localities such as Hau Giang, Dong Thap, Soc Trang, An Giang, Vinh Long and Can Tho city, prices also increased by 6,000 VND/kg compared to yesterday.
Most of the large warehouses in Hau Giang, Dong Thap, Soc Trang, An Giang, Vinh Long and Can Tho city buy Nhat jackfruit at 45,000 VND/kg, Nhi jackfruit at 43,000 VND/kg, large Kem jackfruit at 43,000 VND/kg, small Kem jackfruit at 31,000 VND/kg, and third grade Kem jackfruit at 11,000 VND/kg.
At the garden, traders buy jackfruit of all kinds at a price 2,000 VND/kg cheaper.
Domestic coffee prices remain high
Domestic coffee prices on August 7 in the Central Highlands provinces remained stable and remained high, ranging from 66,100 to 66,800 VND/kg, with the highest at 67,000 VND/kg.
Coffee prices in Gia Lai and Kon Tum provinces are at VND66,400/kg. In Dak Nong province, the highest price for coffee is VND67,000/kg. In Dak Lak province, coffee prices are currently at VND66,700/kg.
On the world exchange, Robusta coffee prices on the London (UK) exchange in the most recent trading session decreased slightly, over 1%, ranging from 2,372 - 2,660 USD/ton depending on the delivery period.
According to experts, the reason for the slight decrease in coffee prices and the sideways market trend compared to the previous trading session is due to the abundant new coffee crop in the Brazilian market, causing short-term trading prices to decrease.
In addition, the pressure of selling new crops from Brazil is expected to continue to be the reason for the decline in world coffee derivatives this week, especially Arabica coffee, which is likely to decrease. However, according to experts, the decrease will not be significant. Robusta coffee prices are expected to remain stable due to the pressure of a short-term shortage of reserves. This will also help domestic coffee continue to maintain a fairly good price in the coming time, fluctuating from 66,000 - 67,000 VND/kg.
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