Gold and gas prices continue to rise sharply; Domestic coffee prices remain low

Gold prices continue to rise sharply

Gold price today October 12 continues to increase strongly. Gold price in the world increased due to many fluctuations in the Middle East.

At the time of survey at 5:30, the gold price on the trading floor of some companies was as follows:

DOJI listed the price of 9999 gold at 68.85 million VND/tael for buying and 69.75 million VND/tael for selling.

vàng.jpeg — Gold prices continue to rise sharply.

At Mi Hong Gold and Gemstone Company, at the time of survey, the listed price of SJC gold was at 69.20 - 69.60 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 69.25 - 69.85 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 69.12 - 69.93 million VND/tael (buy - sell).

USD price continues to increase rapidly

The world USD exchange rate remains at 106 points.

The central VND/USD exchange rate announced by the State Bank is adjusted to 24,065 VND/USD, up 2 VND compared to the same time yesterday.

Currently, the exchange rate allowed for trading by commercial banks ranges from 23,400 - 25,218 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 25,218 VND/USD.

The bank USD exchange rate and foreign exchange rate this morning recorded a series of upward adjustments at banks. Specifically, Vietcombank has a buying price of 24,265 and a selling price of 24,605, an increase of 55 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.

Gas prices continue to increase, why?

Opening the trading session this morning, October 12, gas prices in the world market increased by 0.09% to 3.38 USD/mmBTU for natural gas contracts for delivery in November 2023.

European natural gas prices extended gains after Israel ordered Chevron Corp. to temporarily shut down its offshore gas platform Tamar over safety concerns as fighting between Hamas and the Israeli military broke out.

bna_vận chuyển hàng cuối năm ở Công ty TNHH dịch vụ khí đốt Nghệ An .JPG — Gas transportation at Nghe An Gas Service Company Limited. Photo: Viet Phuong

In the domestic market, 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.

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).

Domestic coffee prices remain low

Domestic coffee prices updated at 3:30 a.m. today, October 12, are still at the same level as October 11. Currently, the average coffee price in the Central Highlands provinces is around 63,600 VND/kg.

Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces is 63,600 VND/kg (down 500 VND/kg). In Dak Nong province, it is purchased at 63,800 VND/kg.

The price of green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province is purchased at 63,200 VND/kg.

In Cu M'gar district, Dak Lak province, coffee price is currently at 63,700 VND/kg. In Ea H'leo district, Buon Ho town, it is purchased at the same price of 63,800 VND/kg.

Source