Domestic silver prices
As of 9:50 am on April 10, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at 2,820 - 2,889 million VND/tael (buying - selling); an increase of 40,000 VND/tael on the buying side and an increase of 41,000 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 the threshold of 74,280 - 76,540 million VND/kg (buying - selling); an increase of 1.064 million VND/kg on the buying side and an increase of 1.094 million VND/kg on the selling side compared to yesterday morning.
The price of Kim Phuc Loc 999 silver bars (1 tael) of Saigon Thuong Tin Commercial Joint Stock Company Limited (Sacombank-SBJ) is listed at 2.826 - 2.910 million VND/tael (buying - selling); an increase of 33,000 VND/tael in both directions compared to yesterday morning.
At the same time, the price of 999 silver bars (1 tael) at Phu Quy Jewelry Group was listed at 2,821 - 2,908 million VND/tael (buying - selling); an increase of 28,000 VND/tael on the buying side and an increase of 31,000 VND/tael on the selling side compared to yesterday morning.
The price of 999 silver ingots (1kg) at Phu Quy Jewelry Group is listed at 75.226 - 77.546 million VND/kg (buying - selling); an increase of 907,000 VND/kg on the buying side and an increase of 933,000 VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:50 am on April 10 (Vietnam time), the world silver price was listed at 75.46 USD/ounce; an increase of 1.45 USD compared to yesterday morning.
Causes and forecasts
The silver market continues to record strong fluctuations in recent trading sessions. According to precious metals analyst Christopher Lewis of FX Empire, this development shows that silver is significantly affected by interest rate fluctuations, especially the yield of 10-year US government bonds.
Currently, yields fluctuate around the threshold of 4.30%, with the nearest recorded level of about 4.289%. This is considered a sensitive area, which can trigger strong reactions in the market," he said.
The expert said that silver prices are often inversely correlated with bond yields. When yields increase, downward pressure on silver prices also increases. In the current context, this puts the market at risk of facing strong selling pressure if a short-term recovery appears.
In the opposite direction, if yields continue to cool down, silver prices may be supported, the market may head towards the 80 USD/ounce mark if the yield decline is maintained" - Christopher Lewis said.
Besides the interest rate factor, Christopher Lewis believes that the geopolitical situation is also affecting investor sentiment. Although positive signals such as ceasefire agreements in the Middle East have appeared, risks are still present as the tense developments have not completely ended.
In this context, traders should maintain caution and closely monitor new information, especially factors that may affect the bond market. It is likely that silver prices will continue to fluctuate in a narrow range in the short term, until clearer signals appear about both monetary policy and geopolitical situation" - Christopher Lewis gave his opinion.
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