Gold price increased to the highest level in the past 3 weeks; Domestic coffee increased by 200

Unrest in the Middle East pushes gold prices higher

Domestic gold price, closing session October 14, the price of 9999 gold bars at SJC Ho Chi Minh City was 69.7 million VND/tael (buy) and 70.07 million VND/tael (sell). SJC Hanoi listed at 69.7 million VND/tael (buy) and 70.72 million VND/tael (sell).

DOJI Hanoi listed at 69.6 million VND/tael (buy) and 71 million VND/tael (sell). DOJI Ho Chi Minh City bought SJC gold at 69.7 million VND/tael and sold at 71 million VND/tael.

Gold prices increased sharply at the weekend.

On the world market, today, October 15, the price increased, closing the week with a price increase, pushing the gold price to the highest level in the past 3 weeks. The spot gold price on Kitco closed the session at 1,932 USD/ounce.

Gold prices surged on safe-haven demand as Israel escalated its war with Hamas. With growing turmoil in the Middle East and Russia’s ongoing conflict with Ukraine, analysts say gold prices could rise again.

In addition, tensions with Russia, the US announced tightening sanctions on Russian crude oil exports, affecting oil prices. Oil is a commodity that has a strong influence on gold.

US government bond yields retreated from their highest levels since 2007 reached last week, as investors increased speculation that the US Federal Reserve (Fed) was ending its interest rate-hike cycle.

Edward Moya, senior market analyst at OANDA, said safe-haven demand will drive gold prices higher in the near term.

Coffee price increased by 200 - 300 VND/kg

Domestic coffee prices were updated at 4:40 a.m. on October 15, 2023 as follows: Coffee prices continued to increase by 200 - 300 VND/kg, currently the average coffee price in the Central Highlands provinces is around 63,500 VND/kg.

Coffee prices today October 15 recovered.

Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces on October 15, 2023 was VND 63,500/kg. In Dak Nong province, coffee was purchased at VND 63,600/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 63,200 VND/kg.

Coffee prices in Dak Lak province today are at 63,600 - 63,700 VND/kg.

Pig price decreased by 13 - 17% compared to early July

Overall, last week (from October 9 to October 15), pork prices decreased across the board and are currently recording an average of about 51,000 VND/kg.

Pig price today October 15, 2023: Average level of about 51,000 VND/kg.

The average price of live pigs at the weekend (October 15, 2023) in the Northern region was recorded at 51,300 VND/kg; in the Central Highlands region at 51,710 VND/kg; in the Southern region at 51,570 VND/kg. This price is 1,000 - 2,000 VND/kg lower than the previous weekend (October 8, 2023).

Thus, up to this point, the price of live pigs has decreased by 13 - 17% compared to the peak in early July. This price is also returning to the common level of the first 4 months of 2023.

According to experts in the livestock industry, in recent times, pork prices have been low, partly because there is still a small amount of over-aged pigs, and partly because African swine fever has occurred in some areas, causing people to sell their pigs to escape the epidemic.

Mr. Nguyen Tri Cong - Chairman of Dong Nai Livestock Association - commented that at the end of the year, Lunar New Year, the price of live pigs may be higher than the current time but still below 60,000 VND/kg because supply is still available but demand is very low./.

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