Gold prices fell sharply in the last session of the week
Domestic gold prices fell sharply, SJC gold lost 300,000 VND/tael. World gold prices continued to fall sharply in the weekend trading session.
At the time of survey at 5:00 a.m. on December 10, 2023, on the trading floor of some companies as follows:
The price of 9999 gold today is listed by DOJI at 72.80 million VND/tael for buying and 74.10 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 73.10 - 73.80 million VND/tael (buy - sell).
SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 72.82 - 73.85 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 72.80 - 74.30 million VND/tael (buy - sell).
The world gold price recorded at 5:00 a.m. today, Vietnam time, was 2,004,440. Converted according to the current exchange rate at Vietcombank , the world gold price is about 57,848 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 14,952 million VND/tael higher than the international gold price.
Gold ended a volatile trading week when it broke a record high at an all-time high of $2,135 per ounce at the beginning of the week, but by the end of the week, it suddenly dropped sharply near the resistance level of $2,000 per ounce, specifically, currently at $2,004 per ounce.
Ole Hansen, head of commodity strategy at Saxo Bank, said the recent jobs data weighed on the chances of a rate cut in March. The rally earlier this week and the sell-off weighed on gold.
Forecasting gold prices, Adrian Day, Chairman of Adrian Day Asset Management, said that despite the positive long-term outlook, gold is vulnerable to bad news. Gold could fall below $2,000/ounce, to the support level of around $1,975/ounce.
The Fed and other central banks will stop tightening interest rates in the face of a slowing economy and unmanageable debt burden. This scenario is very favorable for gold.
Japanese Yen Extends Gains
Today's Japanese Yen exchange rate surveyed at banks increased in both buying and selling directions, specifically as follows:
At Vietcombank , the Vietcombank Japanese Yen exchange rate is 163.54 VND/JPY and the selling rate is 173.11 VND/JPY, an increase of 2.29 VND in the buying direction and an increase of 2.42 VND in the selling direction.
At Vietinbank, the Japanese Yen exchange rate increased by 0.24 VND in both buying and selling directions, equivalent to 163.29 VND/JPY and 172.99 VND/JPY.
At BIDV Bank, the Japanese Yen exchange rate increased by 0.72 VND in buying and increased by 0.74 VND in selling, reaching 157.48 VND/JPY and 165.75 VND/JPY, respectively.
At Agribank, the Japanese Yen exchange rate for buying and selling is 158.80 VND/JPY and 163.74 VND/JPY, respectively - up 0.45 VND for buying and 0.48 VND for selling.
At Eximbank, the buying price increased by 0.69 VND and the selling price increased by 0.72 VND, respectively at 165.46 VND/JPY and 170.09 VND/JPY.
At Techcombank, the Japanese Yen exchange rate increased by 0.45 VND in buying and increased by 0.51 VND in selling with prices of 161.23 VND/JPY and 172.31 VND/JPY, respectively.
At Sacombank, the Japanese Yen exchange rate increased by 0.6 VND in buying and increased by 0.66 VND in selling, corresponding to the prices of 165.40 VND/JPY and 171.98 VND/JPY.
At NCB Bank, the Japanese Yen exchange rate is 164.04 VND/JPY for buying and 170.99 VND/JPY for selling (corresponding to an increase of 1.58 VND for buying and an increase of 1.61 VND for selling).
At HSBC Bank, the Japanese Yen exchange rate increased by 4.27 VND in buying and 4.47 VND in selling, respectively at 165.25 VND/JPY and 172.54 VND/JPY.
According to a survey by Cong Thuong Newspaper, today's Japanese Yen exchange rate at Eximbank is the bank with the highest Japanese Yen buying rate and Agribank is the bank with the lowest selling rate among banks.
Domestic coffee continues to stand at high level
Domestic coffee prices were updated at 4:24 a.m. on December 10, 2023 as follows: Coffee prices tend to be stable and decrease slightly compared to the previous trading session, a decrease of about 200 VND/kg. Currently, the average coffee price in the Central Highlands provinces is about 60,500 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces is 60,700 VND/kg.
Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces on December 10 was quite high at 60,600 VND/kg (down 200 VND/kg); In Dak Nong province, coffee was purchased at 60,900 VND/kg (up 700 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, coffee is purchased at 59,800 VND/kg (down 200 VND/kg).
Coffee prices today (December 10) in Dak Lak province are the highest; in Cu M'gar district, it is purchased at 60,600 VND/kg, and in Ea H'leo district, Buon Ho town, it is purchased at the same price of 60,700 VND/kg.
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