World gold surpasses 2,000 USD/ounce; domestic steel prices have adjustments

Gold soars, surpassing $2,000/ounce

Domestic gold prices increased again to 300,000 VND/tael after 1 day of decline. World gold prices exceeded the threshold of 2,000 USD/ounce.

Domestic gold price today surveyed at 5:00 a.m. on November 25, 2023, DOJI listed 9999 gold price at 70.90 million VND/tael for buying and 71.80 million VND/tael for selling.

At Mi Hong Gold and Gemstone Company, the price of Mi Hong gold at the time of survey listed the price of SJC gold at 71.00 - 71.70 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 71.10 - 71.85 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 71.00 - 72.05 million VND/tael (buy - sell).

On the world market, according to Kitco, recorded at 5:00 a.m. today, Vietnam time, the spot price was 2,002.495 USD/ounce, a difference of 9,605 USD/ounce compared to yesterday's world gold price. Converted according to the current exchange rate at Vietcombank , the world gold price is about 57.864 million VND/tael. Thus, the price of SJC gold bars is still 13.136 million VND/tael higher than the international gold price.

Gold broke through the key $2,000 level, posting a second straight weekly gain, against a weaker US dollar on bets that the US Federal Reserve has completed its rate-hike cycle.

Spot gold rose 0.5% to $2,002.495 an ounce, having gained more than 1% this week. U.S. gold futures rose 0.5% to $2,003.00.

Oil prices continue to decline

On the world market, gasoline prices today, November 25, continued to decline due to not finding the motivation to break through.

In the previous session, oil prices fell slightly due to the lack of market support factors.

Gasoline prices have not found the momentum to break out. Photo: ThoughtCo

According to data from Oilprice, at 8:43 p.m. on November 24 (Vietnam time), Brent crude oil was trading at $81.33 per barrel, down $0.09, or 0.11%, from the previous session. WTI crude oil was trading at $76.34 per barrel, down $0.76, or 0.99%, from the previous session.

Oil prices were steady in late trading as investors remained cautious ahead of next week's meeting of the Organization of the Petroleum Exporting Countries and its allies (also known as OPEC+).

Oil prices weakened after OPEC+ unexpectedly announced the postponement of the ministerial meeting scheduled for November 26 to November 30.

According to analysts, this OPEC+ meeting is expected to discuss oil production cuts in 2024.

OPEC+ members are struggling to agree on oil production cuts ahead of the meeting due to disagreements involving African countries, sources said.

Domestic steel prices have been adjusted upward.

After nearly 3 months since the 19th price reduction on September 7, domestic steel prices have been adjusted up and down for each brand. Specifically, the price of CB240 coil steel in the Northern region was adjusted up by 150 - 210 VND/kg at Hoa Phat, Viet Nhat and Viet Sing.

Steel prices reversed and increased, reaching a peak of VND410,000/ton after 19 consecutive declines since the beginning of the year.

Viet Duc brand adjusted the price of CB240 steel coil down by 190 VND/kg. The price of D10 CB300 ribbed steel decreased by 40 VND/kg at Viet Duc. Meanwhile, Hoa Phat, Viet Y and Viet Nhat all increased by 150 VND/kg.

In the Central region, the price of CB240 coil steel decreased by VND200/kg at the Viet Duc brand, while Pomina and Hoa Phat increased by VND110/kg and VND360/kg. The price of D10 CB300 ribbed steel bars increased by VND100 - 410/kg at the surveyed brands.

In the South, the price of CB240 coil steel at Pomina and Hoa Phat increased by VND200/kg and VND260/kg respectively. The price of D10 CB300 ribbed steel increased by VND300/kg and VND310/kg at Hoa Phat and Pomina.

Domestic coffee prices increase sharply again

Updated at 4:54 a.m. on November 25, coffee prices increased again for the second session and are maintaining a fairly good level. Currently, the average coffee price in the Central Highlands provinces is about 57,900 VND/kg, the highest purchase price in Dak Lak province is 58,200 VND/kg.

Domestic coffee prices today, November 25, continue to increase.

Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces on November 25, 2023 was at a fairly high price of VND 57,900/kg; In Dak Nong province, coffee was purchased at VND 58,000/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 57,400 VND/kg.

Today's coffee price in Dak Lak province is the highest; in Cu M'gar district, coffee is purchased at 58,100 VND/kg, and in Ea H'leo district, Buon Ho town, it is purchased at the same price of 58,200 VND/kg.

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