Gold and gasoline prices are expected to continue to rise in the new week; Domestic coffee prices remain high

Gold is expected to continue to increase in the new week.

At the time of survey at 5:00 a.m. on January 22, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold at 73.65 million VND/tael for buying and 76.65 million VND/tael for selling.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 73.90 - 76.55 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 73.70 - 76.92 million VND/tael (buy - sell).

Gold is expected to continue to rise in the new week.

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,029.620 USD/ounce. Converted according to the current exchange rate at Vietcombank , the world gold price is about 59.366 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 14.334 million VND/tael higher than the international gold price.

According to the Kitco News gold survey, 14 Wall Street analysts said last week’s bullish trend has weakened significantly. Six experts, or 42%, expect to see higher gold prices next week, while four analysts, or 29%, see lower prices and another four, or 29%, are neutral on gold next week.

Meanwhile, 150 votes were cast in Kitco’s online poll of retail investors. The results were similar, with 44% expecting gold to rise next week; 29% predicting lower prices, while 27% were neutral on the precious metal’s near-term outlook.

Domestic coffee prices are high

Updated at 5:24 a.m. on January 22, coffee prices remained high, with the highest level at 72,500 VND/kg, averaging 72,300 VND/kg in the Central Highlands provinces, and the average purchase price in Dak Nong and Dak Lak provinces was 72,400 VND/kg.

Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces is quite high, at 72,300 VND/kg; In Dak Nong province, coffee is purchased at the highest price of 71,400 VND/kg.

Domestic coffee prices are high.

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 71,800 VND/kg.

Over the past month, our country's coffee harvest has begun, and prices have been increasing continuously. Currently, the price of domestic coffee beans per kilogram is 72,500 VND, 86% higher than at the beginning of last year and is the fourth time coffee prices have peaked since June 2023.

According to the Vietnam Coffee and Cocoa Association, concerns about a supply shortage from Asia as the Suez Canal is blocked due to tensions in the Red Sea have caused agricultural prices to rise. Vietnam is the world's second largest coffee exporter, so it is also affected by these tensions.

The Import-Export Department (Ministry of Industry and Trade) estimates that tensions on the main shipping route from Asia to Europe will increase logistics costs by 1,000-2,000 USD.

Gasoline and oil prices today are likely to continue to increase

In the world market, gasoline prices today (January 22) are likely to increase following the upward trend from last week.

Oil prices rose last week despite a number of headwinds. Rising prices amid tensions in the Middle East and disruptions to oil production offset concerns about the Chinese and global economies.

In the past 5 trading sessions, oil prices experienced 2 sessions of decline, 2 sessions of mixed trends and 1 session of sharp increase. Overall, Brent oil prices increased by about 0.5%, WTI oil prices increased by more than 1%. Brent oil prices closed the week at 78.56 USD/barrel while WTI oil prices closed the week at 73.41 USD/barrel.

In the domestic market, the selling prices of gasoline and oil today (January 22) are applied according to the price of the operating session on the afternoon of January 18.

Accordingly, the retail price of gasoline and oil was adjusted up by the Ministry of Finance - Ministry of Industry and Trade. Notably, the price of RON 95 gasoline increased by more than 22,000 VND/liter. Specifically, the price of E5 gasoline was raised to 21,410 VND/liter. The price of RON95 gasoline increased to 22,480 VND/liter. The price of diesel oil increased to 20,190 VND/liter. The price of kerosene increased to 20,530 VND/liter.

Source: https://baonghean.vn/vang-xang-dau-du-bao-tiep-tuc-bat-tang-trong-tuan-moi-gia-ca-phe-trong-nuoc-o-muc-cao-post283730.html