Gold prices continue to fall sharply
As of 6:15 p.m., DOJI Group listed the price of SJC gold bars at 83.3-85.8 million VND/tael (buy - sell).
Compared to the close of the previous trading session, gold price at DOJI decreased by 500,000 VND/tael for both buying and selling.
The difference between buying and selling price of SJC gold at DOJI Group is at 2.5 million VND/tael.
Meanwhile, Saigon Jewelry Company listed the price of SJC gold at 83.3-85.8 million VND/tael (buy - sell).
Compared to the closing price of the previous trading session, the gold price at Saigon Jewelry Company SJC decreased by 500,000 VND/tael for both buying and selling.
The difference between buying and selling price of SJC gold at Saigon Jewelry Company is at 2.5 million VND/tael.
Bao Tin Minh Chau listed SJC gold price at 83.3-85.8 million VND/tael (buy - sell), unchanged.
This price difference is a factor that investors need to consider when participating in the gold market. It directly affects the ability to make profits, especially in the short term. See more...
US bond yields rise, Yen weakens
After achieving impressive gains, the Japanese Yen (JPY) unexpectedly weakened in today's trading session, December 2, pushing the USD/JPY exchange rate pair above the 150.50 mark.
According to FXStreet, the main reason comes from the rise in US bond yields, as investors worry that President-elect Donald Trump's new tariff policies could increase consumer prices. This fuels expectations that the Fed will stop cutting interest rates, causing capital flows to shift away from the low-yielding JPY and back to the USD.
However, the yen's depreciation may not last long due to expectations that the Bank of Japan (BoJ) will continue to raise interest rates in December.
According to Lao Dong, updated at 1:00 p.m. on December 2, the USD/JPY exchange rate is currently fluctuating around 150.609 USD/JPY, meaning 1 USD can be exchanged for about 150.5 JPY, up 0.6% compared to yesterday's session. See more...
Coffee prices fall
Agricultural product prices today December 2: At the giacaphe.com trading floor, the average coffee price is at 129,200 VND/kg, down 1,000 VND/kg compared to the previous day. Video: Lam Hong
Forecast of gasoline price decrease next period
WTI crude oil prices fell 4.55% last week to $68/barrel, while Brent crude oil prices fell 2.97% to below $73/barrel.
In the Middle East, Israel and the militant group Hezbollah reached a ceasefire agreement on November 27. This helped ease market concerns about the possibility of a disruption in crude oil supplies from the region due to the war, and had put great pressure on oil prices last week.
Besides, investors also traded with caution, waiting for the December policy meeting of the Organization of the Petroleum Exporting Countries and Allies (OPEC+).
Last week, OPEC+ announced that it would postpone its policy meeting to December 5, instead of the originally scheduled date of December 1. Some OPEC+ members are discussing further delaying the planned production increase until the end of the first quarter of 2025, due to concerns about slowing demand growth while crude supply outside the group is increasing.
For the domestic market, gasoline prices are currently linked to the world market, so according to the forecast of some gasoline distribution and trading enterprises in Hanoi, in the next adjustment session (Thursday, December 5, 2024), gasoline prices are expected to decrease simultaneously.
Of which, E5 RON 92 gasoline is forecast to decrease by 330 VND/liter; Ron 95 gasoline is forecast to decrease by 50 VND/liter; DO oil is forecast to decrease by 340 VND/liter. The above forecast prices do not take into account the authorities' allocation or use of the Petroleum Price Stabilization Fund. In case the regulatory agency uses it, the gasoline price will increase less. See more...
