Domestic silver prices
As of 9:15 am on June 11, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at 2,418 - 2,480 million VND/tael, down 21,000 VND/tael on the buying side and down 22,000 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 63.664 - 65.634 million VND/kg, down 566,000 VND/kg on the buying side and down 586,000 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 2.419 - 2.499 million VND/tael, down 18,000 VND/tael on the buying side and down 19,000 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 2.424 - 2.499 million VND/tael, down 18,000 VND/tael on the buying side and down 19,000 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 64.639 - 66.639 million VND/kg, down 480,000 VND/kg on the buying side and down 507,000 VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:15 am on June 11 (Vietnam time), the world silver price was listed at 63.87 USD/ounce, down 0.63 USD compared to yesterday morning.
Causes and forecasts
Silver prices continued to weaken in Thursday's trading session as unprofitable assets were under pressure from a high interest rate environment. Maintaining high interest rates made silver less attractive in the eyes of investors.
Christopher Lewis - precious metals analyst at FX Empire - said that silver is trading near an important support zone, so price movements in the near future will depend heavily on interest rate trends in the US.
According to Mr. Lewis, high interest rates are still the main factor putting pressure on silver prices in recent times. This expert believes that silver prices may face difficulties when approaching the 67.8 - 70 USD/ounce range, as this is an area where many investors tend to sell to take profits, limiting the upward momentum of this precious metal.
He believes that silver, like gold, has undergone a period of strong correction recently because investors tend to prioritize assets that bring higher returns. This will still be the story that dominates the diễn biến of the silver market in the short term.
The expert also warned that in unmoved recovery phases, selling pressure may increase again and pull silver prices down to lower levels, even towards the threshold of 60 USD/ounce.
However, in the long term, Christopher Lewis still maintains a positive view of silver thanks to the market's supply-demand outlook. However, he believes that this factor is not currently the top concern of traders as interest rates are still high.
In addition, geopolitical factors are also significantly affecting the prospects of precious metals," Christopher Lewis said.
According to experts from FX Empire, silver prices may head towards the 120 USD/ounce mark in the long term, but to maintain a sustainable upward trend, the market needs more stable signals, especially a long-term peace in the Middle East region.
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