Domestic gold price increased shockingly
SJC gold suddenly increased dramatically, bringing the gold price to a new historical peak of 85.8 million VND/tael, while world gold continued to decrease slightly.
At the time of survey at 5:00 a.m. on May 4, 2024, the gold price on the trading floors of some companies was as follows:
Today's 9999 gold price is listed by DOJI at 83.50 million VND/tael for buying and 85.70 million VND/tael for selling.
At Mi Hong Jewelry Company, the listed price of SJC gold is at 83.60 - 85.10 million VND/tael (buy - sell).
SJC gold price at Bao Tin Minh Chau Limited Company is also traded by the enterprise at 83.60 - 85.70 million VND/tael (buy - sell).
According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,301.93 USD/ounce, down 1.17 USD/ounce compared to yesterday's gold price. Converted according to the current exchange rate at Vietcombank, the world gold price is about 69.452 million VND/tael (excluding taxes and fees).
Japanese Yen exchange rate skyrocketed
The Japanese Yen exchange rate today, May 4, 2024, continued to increase sharply at the end of the week; on the black market, it also increased sharply in both buying and selling directions.
Survey on the morning of May 4, 2024, Japanese Yen exchange rates at banks, specifically as follows:
At Vietcombank , the Japanese Yen exchange rate of Vietcombank is 160.99 VND/JPY for buying and 170.39 VND/JPY for selling, an increase of 3.1 VND for buying and 3.28 VND for selling.
At Vietinbank, the Yen exchange rate increased by 0.81 VND in both buying and selling directions, equivalent to 161.92 VND/JPY and 171.62 VND/JPY.
BIDV Bank, Japanese Yen exchange rate increased by 2.3 VND in buying and increased by 2.42 VND in selling, reaching 160.91 VND/JPY and 169.41 VND/JPY respectively.
At Agribank, the Japanese Yen exchange rate for buying and selling is 161.71 VND/JPY and 169.84 VND/JPY - an increase of 3.07 VND for buying and an increase of 3.31 VND for selling.
Eximbank increased 1.47 VND in buying price and 2.45 VND in selling price, respectively at 162.22 VND/JPY and 168.16 VND/JPY.
At Techcombank, the Japanese Yen exchange rate increased by 2.25 VND at buying and 2.26 VND at selling with prices of 159.25 VND/JPY and 171.69 VND/JPY, respectively.
Sacombank, the Japanese Yen exchange rate increased by 2.12 VND in buying and increased by 2.1 VND in selling, corresponding to the prices of 163.84 VND/JPY and 168.88 VND/JPY.
Surveyed in the black market, the Japanese Yen/VND exchange rate increased by 1.26 VND in the buying direction and increased by 0.66 VND in the selling direction, respectively traded at 166.91 VND/JPY in the buying direction and 168.11 VND/JPY in the selling direction.
Oil continues to weaken
According to data from Oilprice, at 8:42 p.m. on May 3 (Vietnam time), Brent oil price was listed at $83.43/barrel, down 0.29% from the previous session. WTI oil price was at $78.57/barrel, down 0.48% from the previous session.
Oil prices are under pressure from weaker global demand and fading hopes of an early US interest rate cut.
The US Federal Reserve decided to keep its benchmark interest rate unchanged at a 23-year high after a two-day policy meeting this week, warning that recent disappointing inflation data could make further rate cuts a long time away.
Investors are concerned that the prospect of higher interest rates for longer will limit growth in the United States, the world's top oil consumer. That could reduce demand for oil.
Analysts at ANZ Research recently said that the US travel season is about to start. But high inflation could lead consumers to choose shorter trips during the holiday season.
In addition, the decline in global diesel demand has also raised concerns about slowing oil demand growth in major economies.
Coffee prices drop dramatically
Domestic coffee prices were updated at 4:24 a.m. on May 4, 2024, with a sharp decrease of about 12,500 VND/kg. This is considered the largest decrease in recent trading sessions. Currently, the average purchase price in the Central Highlands provinces is 118,100 VND/kg, the highest purchase price in Dak Nong province is 118,200 VND/kg.
Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces is at 118,000 VND/kg; In Dak Nong province, coffee is purchased at the highest price of 118,200 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, coffee is purchased at 117,500 VND/kg.
In Dak Lak province, in Cu M'gar district, coffee is purchased at about 117,900 VND/kg, and in Ea H'leo district, Buon Ho town, it is purchased at the same price of 118,000 VND/kg.
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