Domestic gold price turns down, world gold price goes against the trend and increases; Coffee price continues to rise

Domestic gold reverses and decreases, world gold reverses and increases

At the time of survey at 5:00 a.m. on January 26, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold at 73.95 million VND/tael for buying and 76.45 million VND/tael for selling.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 74.05 - 76.35 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 74.05 - 76.55 million VND/tael (buy - sell).

World gold reverses trend and increases.

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was 2,017.705 USD/ounce, a difference of 4,315 USD/ounce compared to yesterday's gold price. Converted according to the current exchange rate at Vietcombank, the world gold price is about 59.151 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 14.849 million VND/tael higher than the international gold price.

Domestic steel market stable, trading floor continues to increase

Today, steel prices on the Shanghai Futures Exchange continued to rise by 46 yuan/ton. Domestic steel prices remain stable.

Iron ore futures rose for a second straight session on Wednesday (January 24), supported by improved risk sentiment amid efforts by top consumer China to shore up market confidence, Reuters reported.

The DCIOcv1 iron ore contract for May delivery on China's Dalian Commodity Exchange (DCE) closed 1.77% higher at 979 yuan ($136.53) a tonne, its highest since Jan. 12. The benchmark SZZFG4 iron ore contract for February delivery on the Singapore Exchange (SGX) rose 0.99% to $133.30 a tonne, its highest since Jan. 12.

Other steelmaking raw materials on the DCE also increased, with coking coal DJMcv1 and coking coal DCJcv1 up 1.51% and 1.27%, respectively.

In the domestic market, after a difficult year, steel enterprises are placing more confidence in 2024 with the expectation that the real estate industry will recover and hot-rolled coil steel consumption in manufacturing industries will be higher.

According to the Vietnam Steel Association (VSA), in 2024, the steel market has shown initial signs of recovery. With the Government's economic stimulus programs, including removing difficulties in the real estate sector, supporting interest rates, boosting public investment, etc., this will help the steel industry increase output by 10% in 2024.

Domestic coffee prices continue to rise

Domestic coffee prices updated at 4:12 a.m. on January 26 continued to increase, increasing by about 900 - 1,000 VND/kg and reaching a new peak of over 75,000 VND/kg. Currently, the average coffee price in the Central Highlands provinces is 74,800 VND/kg, the highest purchase price in Dak Nong province is 75,100 VND/kg.

Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces is 74,900 VND/kg; in Dak Nong province, coffee is purchased at the highest price of 75,100 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 74,300 VND/kg.

In Dak Lak province, in Cu M'gar district, coffee is purchased at 74,900 VND/kg, and in Ea H'leo district and Buon Ho town, it is purchased at the same price of 75,000 VND/kg.

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