Gas price increased by 20,000 VND/tank; Gold price has not stopped decreasing

Gold price decline has not stopped

On the world market, the spot gold price on Kitco (at 8:00 p.m. on September 30, Vietnam time) was trading at $1,848/ounce. Meanwhile, the futures gold price fell to $1,866.10/ounce.

Chicago Federal Reserve Bank President Austan Goolsbee said inflation above the Fed's 2% target remains a bigger risk than tightening monetary policy that slows economic growth.

Data shows the U.S. economy is stabilizing. Initial jobless claims rose slightly last week and existing home sales fell more than expected in August.

Investors predict that the Fed may keep interest rates high for longer. Higher interest rates, gold is hit hard.

Domestic gold price, closing trading session September 30, 9999 gold bar price at SJC Ho Chi Minh City was 68.25 million VND/tael (buy) and 68.95 million VND/tael (sell). SJC Hanoi listed at 68.25 million VND/tael (buy) and 68.97 million VND/tael (sell).

DOJI Hanoi listed at 68.15 million VND/tael (buy) and 68.95 million VND/tael (sell). DOJI Ho Chi Minh City bought SJC gold at 68.15 million VND/tael and sold at 68.85 million VND/tael.

Some analysts predict that gold prices are likely to fall further. However, any weakness in gold will be seen as a long-term buying opportunity.

From October 1, price increased by 20,000 VND/12kg bottle

According to information from a number of gas businesses, from October 1, 2023, retail gas prices will increase by VND 1,667/kg (including VAT), equivalent to an increase of VND 20,000/12kg cylinder.

A representative of a gas brand said that the retail price of this company's gas products will increase by 75,000 VND for a 45kg gas cylinder and 83,000 VND for a 50kg gas cylinder. The retail price to consumers for the company's 12kg gas cylinder is 464,000 VND after the price increase.

Domestic gas prices depend on world developments.

The reason for this gas price increase is that the average world gas price in October 2023 was 607.5 USD/ton, an increase of 52.5 USD/ton compared to September 2023.

In addition, the high gas price was also due to the explosion at the Bandar Abbas Oil Refinery in southern Iran after a gas leak affected the world fuel supply, so the world oil price increased to nearly 94 USD/barrel.

This is the third consecutive month that gas prices have increased. Thus, since the beginning of the year, domestic gas prices have decreased 5 times (January, March, April, June and July) and increased 5 times (February, May, August, September and October).

In global markets, October typically marks the start of the heating season in Europe, but last year’s warm weather extended the time it took for gas storage to fill, creating a vital buffer for the colder months. Supplies are now 94% full, and slowing heating demand will create space for fuel arriving by pipeline or tanker.

Lowest price of live pigs is 52,000 VND/kg

In the Northern region, the price of live pigs today, October 1, 2023, is traded in the range of 54,000 - 56,000 VND/kg.

Pig price today October 1, 2023: Recorded lowest level of 52,000 VND/kg.

In the Central Highlands region, the price of live pigs today is stable across the board and fluctuates between 54,000 - 56,000 VND/kg.

In the Southern region, the price of live pigs today did not record any new fluctuations and fluctuated between 52,000 - 56,000 VND/kg. Accordingly, the lowest price in the region of 52,000 VND was recorded in Ben Tre.

Overall, over the past week, the price of live pigs has fluctuated in a downward trend. Although the decrease was not large, it has pulled the price of live pigs nationwide away from the price of 60,000 VND/kg and currently the average price of live pigs in the regions is around 55,000 VND/kg.

Along with the decrease in live hog prices, the price of pork has also dropped by 5% compared to 10 days ago. According to traders, the price of pork is currently at 78,000 - 79,000 VND/kg./.

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