World gold suddenly dropped sharply

According to Kitco, the world gold price recorded at 5:00 a.m. today (Vietnam time) was 2,002,920 for immediate delivery. The world gold price today decreased by 26.84 USD/ounce compared to the world gold price yesterday. Converted according to the current exchange rate at Vietcombank, the world gold price is about 57,804 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 15,296 million VND/tael higher than the international gold price.

The decline in gold prices came after the latest US jobs report showed the labour market is improving, contrary to recent data released this week. The US Bureau of Labor Statistics (BLS) showed that the economy created 199,000 jobs, exceeding the forecast of 180,000, while the unemployment rate fell to 3.7% from 3.9%.

Domestically, DOJI listed the price of 9999 gold today at 73.00 million VND/tael for buying and 74.10 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 73.30 - 74.00 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 73.13 - 74.03 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 73.10 - 74.32 million VND/tael (buy - sell).

Steel prices increased simultaneously on the trading floors.

Steel price today (December 9) - delivery in May 2024 on the Shanghai Stock Exchange increased by 61 yuan to 4,006 yuan/ton.

Iron ore futures for May delivery on China's Dalian Commodity Exchange (DCE) closed 3.9% higher at 941 yuan ($131.46) a tonne.

On the Singapore Exchange (SGX), the benchmark iron ore price for January delivery increased 1.8% to $131.65/tonne.

China's iron ore imports rose 3.4% in November from October, as improved steel mill profits and a recovering yuan underpinned purchases of the key steelmaking raw material.

Corresponding to world steel prices, the domestic steel market also recorded the first price increase of the month when manufacturers simultaneously increased prices by VND200,000/ton for rolled steel.

After this price increase, depending on the brand and market area, the price of construction steel coils ranges from 13.75 - 14.5 million VND/ton, the price of CB300 steel bars ranges from 13.75 - 14.3 million VND/ton, this is the price paid directly at the factory, excluding VAT, deducting the maximum discount according to output and region.

In the world market, gasoline and oil prices today, December 9, maintained the upward trend from the previous two sessions.

Crude oil prices continue to rise

According to data from Oilprice, at 8:50 p.m. on December 8 (Vietnam time), Brent crude oil was trading at $75.66 per barrel, up $1.61, or 2.17%, from the previous session. WTI crude oil was trading at $70.83 per barrel, up $1.49, or 2.15%, from the previous session.

Oil prices rose after Saudi Arabia and Russia (the world's two largest oil exporters) jointly called on all members of the Organization of the Petroleum Exporting Countries and its partners (OPEC+) to join the production cut agreement.

The statement was made during Russian President Putin's visit to Saudi Arabia, with the hope of reviving the oil price, which has been continuously falling recently. The above call was made by President Putin and the Saudi Arabian leader in the context of world oil prices falling to a 6-month low.

Domestic coffee prices reverse sharply

Domestic coffee prices were updated at 4:24 a.m. on December 9, 2023 as follows: Coffee prices reversed and increased sharply again, decreasing by 600 - 800 VND/kg. Currently, the average coffee price in the Central Highlands provinces is about 60,700 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces is 60,900 VND/kg.

Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces on December 9 was quite high, at 60,800 VND/kg (up 800 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 is purchased at 60,000 VND/kg (an increase of 600 VND/kg).

In Dak Lak province, the highest coffee price today is purchased; in Cu M'gar district, coffee is purchased at 60,800 VND/kg, and in Ea H'leo district, Buon Ho town, it is purchased at the same price of 60,900 VND/kg.