Domestic silver prices
As of 11:05 am on August 11, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company is listed at the threshold of 2.326 - 2.386 million VND/tael (buying - selling); an increase of 60,000 VND/tael on the buying side and an increase of 62,000 VND/tael on the selling side compared to yesterday morning.
The price of silver ingots 2025 Ancarat 999 (1kg) at Ancarat Gem Company is listed at 61,236 - 63,126 million VND/kg (buying - selling); an increase of 1.602 million VND/kg on the buying side and an increase of 1.652 million VND/kg on the selling side compared to yesterday morning.
The price of 999 silver (1 tael) of DOJI Jewelry Group Joint Stock Company is listed at the threshold of 2.335 - 2.412 million VND/tael (buying - selling); an increase of 65,000 VND/tael on the buying side and an increase of 67,000 VND/tael on the selling side compared to yesterday morning.
At the same time, the price of 999 silver bars (1 tael) at Phu Quy Jewelry Group was listed at the threshold of 2,340 - 2,412 million VND/tael (buying - selling); an increase of 65,000 VND/tael in both buying and selling directions compared to yesterday morning.
The price of 999 silver ingots (1kg) at Phu Quy Jewelry Group is listed at the threshold of 62.399 - 64.319 million VND/kg (buying - selling); an increase of 1.733 million VND/kg on the buying side and an increase of 1.786 million VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 11:05 AM on August 11 (Vietnam time), the world silver price was listed at 66.2 USD/ounce; an increase of 2.82 USD/ounce compared to yesterday morning.
Causes and forecasts
Silver prices are sending positive signals as buying power is maintained in recent sessions. However, the market is still cautious as prices approach important resistance zones.
According to precious metals analyst Christopher Lewis, the silver market's slight increase in the first trading session of the week shows the possibility of further recovery after prices increased in the previous few sessions.
Notably, the silver price has surpassed the peak set in early July, showing the strength of the market. If the silver price continues to increase, the upward momentum may be strengthened. At that time, investors can focus their attention on the 70 USD/ounce mark, which is considered an important psychological support zone in case the price remains above this level.
Conversely, if the price turns down, 60 USD/ounce may become a noteworthy support zone. This level has repeatedly shown an important role in the diễn biến of silver prices and has the potential to attract buying power back when the price adjusts" - the analyst.
Besides technical developments, Christopher Lewis believes that interest rates are a factor that needs to be closely monitored. Current interest rates are relatively stable, thereby creating certain conditions for silver prices. Historically, rising interest rates often put pressure on precious metals in general and silver in particular.
The strength of the USD can also affect the price of silver. Because silver is valued in USD, a strong greenback often puts pressure on the price of this metal. However, the relationship between USD and silver is not always completely consistent.
According to experts, buying power has controlled the silver market in the past 4-5 sessions. This shows that the recovery trend is still maintained, although the market is facing important resistance zones.
The information in the article only reflects market developments, not investment recommendations. Investors need to carefully consider risk factors before making a decision.
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