Gold continues to fall
Gold price today October 28, 2023 on the world market decreased in the context of high USD and US bond yields.
Domestic gold price, At the end of the session on October 27, the price of 9999 gold bars at SJC Ho Chi Minh City was 70 million VND/tael (buy) and 70.7 million VND/tael (sell). SJC Hanoi listed at 70 million VND/tael (buy) and 70.72 million VND/tael (sell).
DOJI Hanoi listed at 69.9 million VND/tael (buy) and 70.8 million VND/tael (sell). DOJI Ho Chi Minh City bought SJC gold at 70 million VND/tael and sold at 70.8 million VND/tael.
Gold prices on the world market today decreased. Gold prices on Kitco (at 8:00 p.m., Vietnam time) were trading at $1,982/ounce.
Gold prices edged lower as the precious metal came under pressure as the US dollar held steady at high levels and US Treasury yields rose.
According to newly released data, the US GDP in the third quarter increased by 4.9% compared to the same period last year. The inflation index in the GDP data has been controlled.
According to the Wall Street Journal, the inflation trend may cause the Federal Reserve (Fed) to pause raising interest rates. The market is waiting for the Fed to keep monetary policy steady at the FOMC meeting next week.
Edward Moya, senior market analyst at Oanda, said a stable US economy could prompt the Fed to continue raising interest rates, which would have a negative impact on gold prices.
World oil prices continue to rise
On the world market, gasoline prices today, October 28, continued to increase from the previous day. On October 27, world gasoline prices turned up after a sharp decrease in the previous session.
According to data from Oilprice, at 9:25 a.m. on October 27 (Vietnam time), Brent crude oil was trading at $88.8 per barrel, up $0.87, or 0.99%, from the previous session. WTI crude oil was at $83.97 per barrel, up $0.76, or 0.91%, from the previous session.
At 7:54 p.m. on October 27 (Vietnam time), Brent oil price reached 89.58 USD/barrel, up 1.65 USD, equivalent to 1.88% compared to the previous session. WTI oil price was at 84.82 USD/barrel, up 1.61 USD, equivalent to 1.93% compared to the previous session.
Analysts say concerns about tightening global supplies have underpinned the rise in oil prices. Oil prices rose on concerns about escalating tensions in the Middle East, which could impact oil supplies from the region.
Experts from Goldman Sachs Bank (USA) predict that Brent oil price will remain at 95 USD/barrel in the first quarter of 2024.
Domestic coffee prices drop by another 400 - 500 VND/kg
Domestic coffee prices were updated at 4:40 a.m. on October 28, 2023, down 400-500 VND/kg. Currently, the average coffee price in the Central Highlands provinces fluctuates around 60,000 VND/kg.
Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces on October 28, 2023 was VND 59,900/kg. In Dak Nong province, coffee was purchased at VND 60,000/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 59,200 VND/kg.
Today's coffee price in Dak Lak province in Cu M'gar district is currently at 60,000 VND/kg. In Ea H'leo district, Buon Ho town, the price is also 60,100 VND/kg./.
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