World gold and crude oil prices continue to increase

Gold prices on the world market increased sharply

Domestic gold , closing price of 10/13, 9999 gold bar price at SJC Ho Chi Minh City was 69.5 million VND/tael (buy) and 70.2 million VND/tael (sell). SJC Hanoi listed at 69.5 million VND/tael (buy) and 70.22 million VND/tael (sell).

Domestic gold price is over 70 million VND/tael.

On the international market , the spot gold price on Kitco (at 9:00 p.m., Vietnam time) was trading at $1,913/ounce.

Gold prices rose sharply in early US trading, driven by stronger safe-haven demand as developments in the conflict between Israel and Hamas intensified.

As conflict threatens to spread in the Middle East, gold prices could continue to rise as they did during the previous conflict between Russia and Ukraine.

Experts say it is unlikely that the US Federal Reserve (Fed) will be able to bring inflation back to its 2% target before being forced to cut interest rates.

Traders see a 38% chance of a rate hike in December, up from about a 28% chance before the report, according to the CME Fedwatch tool.

Mr. Edward Moya, an expert at Oanda, predicts that gold prices may trade in the range of 1,860-1,920 USD/ounce in the coming time.

World crude oil prices continue to rise

Gasoline prices on the world market today (October 14) continued to increase from the previous two sessions.

At 8:25 p.m. on October 13 (Vietnam time), Brent oil price reached 89.34 USD/barrel, up 3.34 USD, equivalent to 3.88% compared to the previous session. WTI oil price was at 86.27 USD/barrel, up 3.36 USD, equivalent to 4.05% compared to the previous session.

Oil prices rose on concerns about tight supplies, analysts said. Oil prices rose sharply after the US tightened sanctions on Russian crude exports, raising concerns about supply and global inventories are expected to decline in the fourth quarter.

Russia is currently the world's second largest oil producer, after Saudi Arabia. Russia is also one of the world's largest oil exporters. The US tightening its policy on Russian oil exports could reduce supply.

Supply concerns remain at the heart of the oil market, with investor sentiment also taking a hit after the Organization of the Petroleum Exporting Countries (OPEC) forecast a 3 million barrel/day drawdown in crude inventories this quarter.

Meanwhile, the International Energy Agency (IEA) on October 12 lowered its forecast for global oil demand growth in 2024 to 880,000 barrels per day, down 1 million barrels per day from its forecast last month.

Domestic coffee prices increase slightly

Domestic coffee prices updated at 4:42 a.m. on October 14 increased by 100 VND/kg, currently the average coffee price in the Central Highlands provinces is around 63,300 VND/kg.

Domestic coffee today October 14 increased slightly.

Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces on October 14 was 63,300 VND/kg. In Dak Nong province, coffee was purchased at 63,400 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 62,900 VND/kg.

In Dak Lak province today, in Cu M'gar district, coffee price is currently at 63,300 VND/kg. In Ea H'leo district, Buon Ho town, it is purchased at the same price of 63,400 VND/kg.

Source