World crude oil slightly decreased; Gold price increased strongly

Middle East tensions cause gold prices to increase sharply

Domestic gold price, closing price of October 21, C999 gold bar price at SJC Ho Chi Minh City was 70.25 million VND/tael (buy) and 70.95 million VND/tael (sell). SJC Hanoi listed at 70.25 million VND/tael (buy) and 70.97 million VND/tael (sell).

DOJI Hanoi listed at 70.3 million VND/tael (buy) and 71.1 million VND/tael (sell). DOJI Ho Chi Minh City bought SJC gold at 70.1 million VND/tael and sold at 71 million VND/tael.

Gold prices increased sharply last week.

On the international market, the price of gold today (October 22), on the Kitco floor, closed the weekend session at 1,981 USD/ounce. The price of gold futures for December closed the session at 2,008.90 USD/ounce.

Tensions in the Middle East have affected global gold prices this past week. Political instability has made gold a safe haven despite rising US bond yields.

The safe-haven demand has pushed gold prices to a three-month high. Prices have risen about 4% this week, from a low on Monday.

Phillip Streible, chief market strategist at Blue Line Futures, said gold prices have rebounded above $2,000 an ounce, but it is not surprising that negative investor sentiment remains. According to this expert, gold prices are undervalued. Mr. Everett Millman, chief market analyst at Gainesville Coins, said that gold prices will fluctuate around $1,900 an ounce until the conflict in the Middle East subsides.

Oil prices fell slightly at the end of the week

World oil prices fell slightly at the end of the week after three consecutive increases. Oil prices fell after Hamas released two American hostages from Gaza. This led to hopes that the Israel-Hamas conflict could de-escalate and not disrupt oil exploitation activities in the Middle East.

Brent oil price fell to 92 USD per barrel, while WTI oil price fell to 88 USD per barrel.

In the domestic market, the prices of gasoline and oil today (October 22) are applied according to the prices at the management session on the afternoon of October 11 of the Ministry of Finance - Industry and Trade. Accordingly, gasoline and oil prices were adjusted down sharply.

Specifically, the price of E5 gasoline dropped to 21,900 VND per liter. The price of RON95 gasoline dropped to 23,040 VND per liter. The price of diesel oil dropped to 22,410 VND per liter. The price of kerosene dropped to 22,460 VND per liter.

Coffee prices continue to rise sharply

Domestic coffee prices updated at 4:18 a.m. on October 22 continued to increase sharply compared to the previous trading session. Currently, the average coffee price in the Central Highlands provinces has increased to nearly 60,000 VND/kg, after many sessions of deep decline.

Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces on October 22 was VND59,600/kg; In Dak Nong province, coffee was also purchased at VND59,700/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 59,100 VND/kg.

In Dak Lak province today, in Cu M'gar district, coffee price is currently at 59,800 VND/kg. In Ea H'leo district, Buon Ho town, it is purchased at the same price of 59,900 VND/kg.

World coffee prices, updated at dawn on October 22, continued to be stable and at a high price, ranging from 2,297 - 2,615 USD/ton. Specifically, the delivery period for November 2023 is 2,577 USD/ton; the delivery period for January 2024 is 2,479 USD/ton; the delivery period for March 2024 is 2,422 USD/ton and the delivery period for May 2024 is 2,394 USD/ton.

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