
Metal markets weakened with silver prices falling sharply. Source: MXV
According to the Vietnam Commodity Exchange (MXV), the metal group led the decline as silver prices plunged more than 7%. At the end of the session, silver futures for December delivery fell to $47.7/ounce – the lowest level since early October.
The sharp decline was mainly due to massive profit-taking by investors after a long rally, along with the recovery of the USD, making the precious metal less attractive. The DXY index increased 0.35% to 98.93 points, marking the third consecutive session of increase.
In addition, less positive economic data from China – which accounts for 40% of industrial silver demand – also put pressure on prices.
In Vietnam, the price of 999 silver on the morning of October 22 also decreased by more than 4%, falling from the range of over 1.7 million VND/tael maintained for the past half month. Currently, the silver price in Hanoi fluctuates between 1.626 - 1.656 million VND/tael (buy - sell), and in Ho Chi Minh City it is 1.628 - 1.662 million VND/tael. Due to almost complete dependence on imported sources, domestic silver prices often fluctuate in parallel with the world market.

Agricultural market is flourishing. Source: MXV
In contrast, the agricultural group witnessed an upturn. Arabica coffee prices for December delivery increased 1.85% to $9,117/ton, while Robusta futures for November delivery increased 2.3% to $4,620/ton.
MXV said the increase was mainly due to a shortage of supply in Brazil, the world’s largest exporter. Data from the Brazilian Coffee Exporters Association (Cecafé) showed that the amount of coffee cleared through customs as of October 21 was only about 3.8–4 million bags, down more than 20% compared to the same period last year.
In addition, tariff barriers with the US disrupted trade flows, causing Arabica and Robusta inventories to fall sharply.
In Vietnam, the price of green coffee beans increased by VND2,000/kg on the morning of October 22, to VND115,000-116,000/kg, due to concerns that prolonged heavy rain in the Central Highlands would affect the harvest progress.
MXV assessed that the coffee price increase could be maintained in the short term when supply factors have not improved, but the increase range could gradually narrow when the new harvest in Vietnam and Indonesia begins at the end of the year.
Source: https://hanoimoi.vn/gia-bac-roi-tu-do-ca-phe-di-nguoc-dong-720492.html
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