Gold prices fall
Survey at 5:00 a.m. on February 24, 2024, gold prices on the trading floors of some companies are as follows:
DOJI listed the price of 9999 gold at 76.25 million VND/tael for buying and 78.45 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 76.70 - 77.70 million VND/tael (buy - sell).
Bao Tin Minh Chau Company Limited was also traded by the enterprise at 76.45 - 78.25 million VND/tael (buy - sell).
According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at $2,036.540/ounce. Today's gold price is $11,615/ounce different from yesterday's gold price.
Oil prices continue to fall
On the world market, gasoline prices continued to plummet today, February 24. Brent oil prices are close to 82 USD/barrel.
According to data from Oilprice, at 8:50 p.m. on February 23 (Vietnam time), Brent crude oil was trading at $82.19 per barrel, down $1.48, or 1.77%, from the previous session. WTI crude oil was at $77.12 per barrel, down $1.49, or 1.9%, from the previous session.
Oil prices plunged due to increased selling pressure in the market after a series of "hawkish" speeches from officials of the US Federal Reserve (Fed).
Fed Governor Christopher Waller said on February 22 that policymakers should hold off on cutting interest rates for at least a few more months to consider whether recent increases in inflation are a sign of impeding progress toward price stability.
Meanwhile, Fed Governor Lisa Cook said she wants to see more progress on inflation before starting to cut interest rates.
Iron ore falls for fourth consecutive session
Steel price today, February 24, 2024 - delivery in May 2024 on the Shanghai Exchange increased by 3 yuan to 3,774 yuan/ton.
However, iron ore futures on China's Dalian Commodity Exchange (DCE) fell for a fourth straight session amid concerns about steel demand in top consumer China, while those on the Singapore Exchange rose due to a weaker dollar, Reuters reported.
Analysts at ANZ bank said that although Beijing is taking further steps to address problems in the real estate sector, the market does not expect housing demand to recover soon.
Ore demand growth will be relatively slow in the near term as downstream demand has yet to recover and it is difficult to see any clear improvement in steel margins.
Coffee prices fell sharply
Domestic coffee prices were updated at 4:24 a.m. on February 24, 2024, falling sharply after many consecutive increases; the decrease was about 1,000 - 1,200 VND/kg. However, domestic coffee prices remain high, currently the average purchase price in the Central Highlands provinces is 82,300 VND/kg, the highest purchase price in Dak Nong province is 82,600 VND/kg.
Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces is quite high at 82,400 VND/kg; in Dak Nong province, coffee is purchased at the highest price of 82,600 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, coffee is purchased at 81,800 VND/kg.
In Dak Lak province; in Cu M'gar district, coffee is purchased at 82,400 VND/kg, and in Ea H'leo district, Buon Ho town, it is purchased at the same price of 82,500 VND/kg.
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