Domestic silver prices
As of 9:20 am on September 11, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at 2.139 - 2.203 million VND/tael (buying - selling); down 105,000 VND/tael on the buying side and down 108,000 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 56.496 - 58.246 million VND/kg (buying - selling); down 2.8 million VND/kg on the buying side and down 2.88 million VND/kg on the selling side compared to yesterday morning.
At the same time, the price of 999 silver (1 tael) of DOJI Jewelry Group Joint Stock Company was listed at the threshold of 2.178 - 2.278 million VND/tael (buying - selling); down 123,000 VND/tael in both buying and selling directions compared to yesterday morning.
The price of 999 silver bars (1 tael) at Phu Quy Jewelry Group is listed at the threshold of 2.167 - 2.234 million VND/tael (buying - selling); down 106,000 VND/tael on the buying side and down 109,000 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 57.786 - 59.573 million VND/kg (buying - selling); down 2.827 million VND/kg on the buying side and down 2.906 million VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:25 am on September 11 (Vietnam time), the world silver price was listed at 63.37 USD/ounce; down 4.25 USD compared to yesterday morning.
Causes and forecasts
The world silver market reversed direction and fell deeply. One of the factors putting pressure is that the interest rate level in the US is still high, making non-performing assets such as silver less attractive in the eyes of a part of investors.
In the opposite direction, silver still receives support from demand in the fields of electrification and clean energy. The prospect of silver consumption in these industries helps maintain buying power in the market, thereby limiting the possibility of deep price drops.
In the coming sessions, the developments of silver may be affected by a series of important economic and monetary policy information. After the interest rate decision of the European Central Bank (ECB), the market will continue to monitor data on the producer price index (PPI) and the consumer price index (CPI) to be released soon.
Notably, the focus of the market will be on the meeting of the US Federal Reserve (Fed) next week. Interest rate decisions and signals related to monetary policy may have a significant impact on the USD, bond yields and thereby affect silver prices.
In the context of intertwined supporting and pressing factors, silver is likely still in need of more momentum to establish a clear trend. Cautious sentiment remains, as investors wait for further signals from central banks and economic data before making a decision.
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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