Gold price reverses; Gas price increases by 4,000

Gold price increased to 250,000 VND/tael

Today, the price of 9999, SJC, 24K, PNJ, DOJI gold increased by 250,000 VND/tael after a shocking drop; world gold price continued to decrease.

At the time of survey at 5:30 a.m. on November 1, the gold price on the trading floors of some companies was as follows:

Today's 9999 gold price is listed by DOJI at 70.05 million VND/tael for buying and 70.80 million VND/tael for selling.

vang 1.jpeg — Gold prices continue to be high today.

At Mi Hong Gold and Gemstone Company, at the time of survey, the listed price of SJC gold was at 70.15 - 70.65 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 70.10 - 70.75 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 70.10 - 70.95 million VND/tael (buy - sell).

USD price keeps increasing

Today, November 1, USD/VND exchange rate, black market USD price, VCB USD price keep increasing; world USD exchange rate fluctuates constantly.

The central VND/USD exchange rate announced by the State Bank is adjusted to 24,087 VND/USD, down 0.01 VND compared to the same time yesterday.

Currently, the exchange rate allowed for trading by commercial banks ranges from 23,400 - 25,241 VND/USD. The US Dollar exchange rate has also been brought to the buying and selling range by the State Bank of Vietnam from 23,400 to 25,241 VND/USD.

The USD exchange rate at banks and domestic foreign exchange rates this morning recorded a series of upward adjustments at banks. Specifically, Vietcombank has a buying price of 24,360 and a selling price of 24,730, up 5 VND compared to the closing price of yesterday's trading session. The current USD buying and selling prices are in the range of 23,400 - 25,300 VND/USD.

Japanese Yen exchange rate slides

The Japanese Yen exchange rate today, November 1, 2023, has dropped sharply. Agribank is the bank that buys the highest Yen.

Today's Japanese Yen exchange rate surveyed on the morning of November 1 at banks, specifically as follows:

At Vietcombank, the buying rate of Japanese Yen is 159.84 VND/JPY and the selling rate is 169.20 VND/JPY, up 0.36 VND and 0.38 VND respectively. At Vietinbank, the Yen rate decreased by 1.06 VND in both buying and selling rates, equivalent to 158.80 VND/JPY and 168.50 VND/JPY.

At BIDV, the buying rate decreased by 0.39 VND and the selling rate decreased by 0.44 VND, reaching 160.54 VND/JPY and 168.83 VND/JPY, respectively. At Agribank, the buying and selling rates were 161.31 VND/JPY and 166.20 VND/JPY, respectively - unchanged from the same time yesterday.

At Eximbank, the buying rate decreased by 0.87 VND and the selling rate decreased by 0.88 VND, respectively, to 160.80 VND/JPY and 165.39 VND/JPY. At Techcombank, the Japanese Yen exchange rate decreased by 0.88 VND and the selling rate decreased by 0.86 VND, respectively, to 156.58 VND/JPY and 168.87 VND/JPY.

At Sacombank, the Japanese Yen exchange rate decreased by 1.21 VND at the buying price, equivalent to 160.44 VND/JPY, and decreased by 1.17 VND at the selling price, equivalent to 167.01 VND/JPY.

According to the survey, today Agribank is the bank with the highest buying rate of Japanese Yen and Eximbank is the bank with the lowest selling rate among the banks.

Gas prices in November continue the upward trend of the world market

From November 1, domestic retail gas prices increased by 4,000 - 5,000 VND/12kg cylinder. This is the fourth consecutive month of price increase for this item.

Accordingly, from November 1, the retail price of Petrolimex gas cylinders (including VAT) in the Hanoi market is 438,300 VND/12kg household cylinder; 1,753,000 VND/48kg industrial cylinder, respectively increasing by 4,020 VND/12kg cylinder and 15,880 VND/48kg cylinder (including VAT).

Starting from November 1, domestic retail gas prices will increase by 4,000 - 5,000 VND/12kg cylinder.

With the City Petro brand, the retail gas products of this enterprise increased by 4,000 VND for 12kg gas cylinders, 17,000 VND for 50kg gas cylinders. The retail price to consumers for this company's 12kg gas cylinder is 468,000 VND after the price increase.

The reason for the increase in domestic retail gas prices in November 2023 is because the average world gas price contract in November was at 615 USD/ton, an increase of 7.5 USD/ton compared to October.

In addition, the fluctuation in the USD/VND exchange rate also causes the price of imported gas to Vietnam to increase. Therefore, Petrolimex Gas Corporation must adjust accordingly.

In the world market, gas price on October 31, traded at 3.32 USD/mmBTU for natural gas contract for delivery in December 2023 at 10:25 (Vietnam time).

Analysts worry that this winter’s supply could be affected by the conflict between Israel and Hamas, as well as problems with gas infrastructure in the Baltic Sea. Natural gas prices in Europe have risen about 40% since the war between Israel and Hamas began.

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