Domestic gold edged up slightly
Domestic gold edged up 100,000 VND/tael, hovering around 81.5 million VND, while world gold fell again before the FED meeting.
At the time of survey at 5:00 a.m. on March 20, 2024, the gold price on the trading floors of some companies was as follows:
DOJI listed the price of 9999 gold at 79.40 million VND/tael for buying and 81.40 million VND/tael for selling.
At Mi Hong Gold and Gemstone Company, the price of Mi Hong gold at the time of survey listed the price of SJC gold at 79.80 - 80.90 million VND/tael (buy - sell).
At Bao Tin Minh Chau Company Limited, the company also traded at 79.60 - 81.40 million VND/tael (buy - sell).
According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,157.575 USD/ounce, down 2,745 USD/ounce compared to yesterday's gold price. Converted according to the current exchange rate at Vietcombank, the world gold price is about 63.665 million VND/tael (excluding taxes and fees).
Gold prices reversed lower in today's trading session but remained above a key support level as the market remained largely bearish on the precious metal ahead of a key US Federal Reserve (FED) meeting this week.
Meanwhile, the yellow metal fell amid a stronger dollar a day before the Fed signals its interest rate stance at the end of the US central bank's two-day policy meeting.
Japanese Yen exchange rate plummets
The Japanese Yen exchange rate today, March 20, plummeted when the BoJ ended negative interest rates.
Survey at banks as follows:
At Vietcombank , the Vietcombank Japanese Yen exchange rate is 159.36 VND/JPY and the selling rate is 168.67 VND/JPY, down 1 VND on the buying side and down 1.06 VND on the selling side.
Vietinbank, the Japanese Yen exchange rate decreased by 1.59 VND in both buying and selling directions, equivalent to 159.97 VND/JPY and 169.97 VND/JPY.
At BIDV Bank, the Japanese Yen exchange rate decreased by 0.01 VND in buying and decreased by 0.04 VND in selling, reaching 160.33 VND/JPY and 168.88 VND/JPY, respectively.
Agribank, the Japanese Yen exchange rate for buying and selling is 161.63 VND/JPY and 169.90 VND/JPY - up 0.06 VND for buying and up 0.08 VND for selling.
At Eximbank, the buying price decreased by 1.1 VND and the selling price decreased by 1.14 VND, respectively at 161.98 VND/JPY and 166.71 VND/JPY.
Techcombank, the Japanese Yen exchange rate decreased by 1.11 VND in buying and decreased by 1.16 VND in selling with the prices of 157.89 VND/JPY and 170.33 VND/JPY respectively.
At Sacombank, the Japanese Yen exchange rate decreased by 1.54 VND in buying and 1.51 VND in selling, corresponding to 162.23 VND/JPY and 167.33 VND/JPY.
Oil prices at 4-month high
On the world market, gasoline prices continued to rise today, March 20. Brent oil prices surpassed the 87 USD/barrel mark, reaching a 4-month high.
In the trading session on March 19, international oil prices continued to increase. At the end of the first trading session of the week (March 18), oil prices increased by about 2%, reaching the highest level since November 2023.
Data from Oilprice shows that at 8:41 p.m. on March 20 (Vietnam time), Brent crude oil was trading at $87.19 per barrel, up $0.3, or 0.35%, from the previous session. WTI crude oil was at $83.05 per barrel, up $0.33, or 0.4%, from the previous session.
According to analysts, oil prices increased sharply in the context of reduced supply and stronger demand.
On the supply side, Reuters reported that Iraq - the second largest producer of the Organization of the Petroleum Exporting Countries (OPEC) - said it would reduce crude oil exports to 3.3 million barrels per day in the coming months to compensate for exceeding OPEC+ quotas since January.
Coffee price exceeds 94,000 VND/kg
Domestic coffee prices updated at 4:12 a.m. on March 20 continued to increase, increasing by about 1,000 - 1,100 VND/kg and reaching a new peak. Currently, the average purchase price in the Central Highlands provinces is 94,100 VND/kg, the highest purchase price in Dak Nong province is 94,200 VND/kg.
Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces is quite high at 94,100 VND/kg; In Dak Nong province, coffee is purchased at the highest price of 93,200 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 is purchased at 93,500 VND/kg.
In Dak Lak province, coffee is purchased at about 94,000 VND to 94,100 VND/kg./.
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