Gold prices are expected to continue to rise in the new week.
At the time of survey at 5:00 a.m. on November 27, the gold price on the trading floors of some companies was as follows:
DOJI listed the price of 9999 gold at 71.20 million VND/tael for buying and 72.30 million VND/tael for selling.
At Mi Hong Gold and Gemstone Company, at the time of survey, the listed price of SJC gold was at 71.20 - 71.80 million VND/tael (buy - sell).
SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 71.35 - 72.23 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 71.20 - 72.50 million VND/tael (buy - sell).
According to Kitco, the world gold price recorded at 5:00 a.m. today (Vietnam time) was at 2,002.495 USD/ounce. Converted according to the current exchange rate at Vietcombank , the world gold price is about 57.864 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 13.436 million VND/tael higher than the international gold price.
Gold prices last week closed above $2,000/ounce, marking the second consecutive week of increases. This was due to the impact of the severely weakened US Dollar as the market bet that the US Federal Reserve (FED) had completed its interest rate hike.
Retail investors are more bullish than ever on the outlook for precious metals this week, with a majority of market analysts also bullish on gold, according to the latest Kitco News survey.
USD continues to weaken
Today, USD/VND exchange rate, USD VCB continues to be equal. The world USD is forecast to continue its prolonged weakening.
The central VND/USD exchange rate announced by the State Bank is adjusted to 23,927 VND/USD, up 12 VND compared to the closing price of the trading session on November 24.
Currently, the permitted exchange rate of commercial banks fluctuates from 23,400 - 25,073 VND/USD. The US Dollar exchange rate has also been brought to the buying and selling range of 23,400 to 25,073 VND/USD by the State Bank of Vietnam.
In the world market, the Dollar Index (DXY), measuring the USD against 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stopped at 103.42 points - down 0.34% compared to trading on November 24.
The US dollar remains weak and is within striking distance of hitting new multi-month lows, despite higher US Treasury yields.
Several high-impact economic data releases next week continue to weigh on the dollar, with the US and Eurozone GDP and inflation standing out.
Domestic coffee price at 58,200 VND/kg
Domestic coffee prices were updated at 5:00 a.m. on November 27 as follows: Coffee prices remained at an increase of 600-700 VND/kg compared to the previous session. Currently, the average coffee price in the Central Highlands provinces is about 58,200 VND/kg, the highest purchase price in Dak Lak province is 58,200 VND/kg.
Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces on November 26 was quite high at 58,200 VND/kg; In Dak Nong province, coffee was purchased at 58,300 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 57,700 VND/kg.
In Cu M'gar district, Dak Lak province, coffee is purchased at the highest price, at 58,500 VND/kg, while in Ea H'leo district, Buon Ho town, it is purchased at the same price of 58,600 VND/kg.
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