World gold price forecast to continue to increase strongly
SJC gold early this morning - the day of the gold bar auction, anchored at a high price of 84 million VND/tael, world gold is forecast to continue to increase strongly.
Survey at 5:00 a.m. on April 22, 2024, gold prices on the trading floors of some companies are as follows:
Today's 9999 gold price is listed by DOJI at 81.65 million VND/tael for buying and 83.85 million VND/tael for selling.
At Mi Hong Jewelry Company, the gold price at the time of survey was listed at VND 81.50 - 83.00 million/tael (buy - sell).
SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 81.90 - 83.90 million VND/tael (buy - sell).
According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,391.77 USD/ounce. Converted according to the current exchange rate at Vietcombank, the world gold price is about 72.220 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 9.78 million VND/tael higher than the international gold price.
“I’m bullish on next week,” said Colin Cieszynski, chief market strategist at SIA Wealth Management. “At this point, macro risks remain high with a lot of political uncertainty. It wouldn’t take much to spark a rally in gold.”
Gainesville Coins market analyst Everett Millman expects the gold market to remain volatile next week. He predicts that gold will have a wide range of activity next week.
USD exchange rate today is at a high level
The central VND/USD exchange rate today, April 22, was announced by the State Bank to be adjusted to 24,260 VND/USD, an increase of 29 VND compared to the trading session on April 19.
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.
This morning, the bank USD exchange rate, foreign exchange rate and domestic USD price recorded a series of upward adjustments at banks.
In the world market, at the beginning of the trading week, the greenback reached 106.18, up 0.14%, this increase is considered the highest since the beginning of November 2023 compared to other currencies in the context of high inflation and strong growth, causing the market to reduce expectations at the time when the US Federal Reserve (FED) will cut interest rates.
Japanese Yen exchange rate increased at the beginning of the week
Today's Japanese Yen exchange rate surveyed on the morning of April 22 all increased at banks, specifically as follows:
At Vietcombank , the Vietcombank Japanese Yen exchange rate is 160.50 VND/JPY and the selling rate is 169.87 VND/JPY, an increase of 1.97 VND in the buying direction and an increase of 2.08 VND in the selling direction.
Vietinbank, Yen exchange rate increased by 0.05 VND in buying and selling directions, equivalent to 160.25 VND/JPY and 169.95 VND/JPY.
At BIDV Bank, the Japanese Yen exchange rate increased by 0.34 VND in buying and decreased by 0.79 VND in selling, reaching 159.69 VND/JPY and 168.09 VND/JPY, respectively.
Agribank, the Japanese Yen exchange rate for buying and selling is 160.49 VND/JPY and 168.45 VND/JPY - up 0.91 VND for buying and up 0.95 VND for selling.
At Eximbank, the buying price increased by 0.1 VND and the selling price increased by 0.3 VND, respectively at 161.4 VND/JPY and 166.64 VND/JPY.
Techcombank, the Japanese Yen exchange rate increased by 0.17 VND in buying and increased by 0.23 VND in selling with prices of 157.96 VND/JPY and 170.48 VND/JPY respectively.
At Sacombank, the Japanese Yen exchange rate increased by 0.93 VND in buying and increased by 0.9 VND in selling, corresponding to the prices of 162.51 VND/JPY and 167.54 VND/JPY.
Oil prices likely to rise after a week of decline
In the world market, gasoline prices today, April 22, are likely to increase due to concerns about supply disruptions in the Middle East.
However, world oil prices last week failed to make a comeback, recording another week of decline.
Oil prices fell about 0.4% in the first trading session of the week, as the damage from Iran’s missile and drone strikes on Israel over the weekend was lower than expected, and Israel’s success in stopping the attack eased concerns about a rapidly escalating conflict in the Middle East.
For the week, both Brent and WTI crude oil prices fell about 3%. This is the largest weekly decline since February.
Closing last week, Brent oil price was fixed at 87.29 USD/barrel, WTI oil price ended the week at 83.14 USD/barrel.
Domestic coffee remains high at 124,000 VND/kg
Domestic coffee prices updated at 4:24 a.m. on April 22 are stable, have little fluctuation and are at a high level. Currently, the average purchase price in the Central Highlands provinces is over 123,300 VND/kg, the highest purchase price in Dak Nong province is 124,000 VND/kg.
Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces is at 122,500 VND/kg; In Dak Nong province, coffee is purchased at the highest price of 124,000 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 122,500 VND/kg.
Coffee prices today (April 22) in Dak Lak province, in Cu M'gar district, coffee is purchased at about 123,400 VND/kg, and in Ea H'leo district, Buon Ho town, it is purchased at the same price of 123,500 VND/kg.
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