SJC gold approaches 91 million VND/tael; Domestic coffee prices climb to the top

SJC gold approaches 91 million VND/tael

Today, SJC gold increased slightly by more than 200,000 VND/tael, reaching 90.90 million VND/tael, world gold fell sharply after the FED meeting minutes.

At the time of survey at 5:00 a.m. on May 23, 2024, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold at 88.90 million VND/tael for buying and 90.50 million VND/tael for selling.

Domestic gold prices slightly increased, while world gold prices continued to "fall vertically".

At Mi Hong Jewelry Company, the gold price at the time of survey was listed at VND 89.50 - 90.50 million/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 88.95 - 90.50 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 88.05 - 90.50 million VND/tael (buy - sell).

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,378.5 USD/ounce, down 42.26 USD/ounce compared to yesterday's gold price. Converted according to the current exchange rate at Vietcombank, the world gold price is about 72.114 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 16.786 million VND/tael higher than the international gold price.

USD continues to increase in price

Today, USD VCB slightly increased by 3 VND in both buying and selling directions, world USD also increased close to 105 mark due to support from the FED meeting minutes.

The central VND/USD exchange rate announced by the State Bank today is adjusted to 24,254 VND/USD, an increase of 3 VND compared to the trading session on May 22.

Currently, the exchange rate allowed for trading by commercial banks ranges from 23,400 - 25,450 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 25,450 VND/USD.

The USD exchange rate at banks and domestic foreign exchange rates this morning recorded a series of upward adjustments at banks. Specifically, Vietcombank has a buying price of 25,236 and a selling price of 25,466, an increase of 3 VND in both buying and selling prices compared to the trading session on May 22. The current USD buying and selling prices are in the range of 24,000 - 25,500 VND/USD.

In the world market, the Dollar Index (DXY), measuring the USD against 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stopped at 104.96 points - up 0.29% compared to the transaction on May 22.

Domestic coffee prices hit new high

Updated at 5:24 a.m. on May 23, domestic coffee prices increased from 4,000 to 4,600 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 110,100 VND/kg, the highest purchase price in Dak Nong province is 110,400 VND/kg.

Specifically, coffee was purchased in Gia Lai and Kon Tum provinces at the price of 109,800 VND/kg; In Dak Nong province, coffee was purchased at the highest price of 110,400 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 109,000 VND/kg.

In Cu M'gar district, Dak Lak province, coffee is purchased at about 109,900 VND/kg, while in Ea H'leo district, Buon Ho town, it is purchased at the same price of 110,000 VND/kg.

Many industry experts believe that fundamental market factors such as supply shortages, especially Robusta coffee, along with strong consumption demand are still supporting coffee prices. The sharp price drop in the first two weeks of May 2024 is only short-term due to the impact of the world market.

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