Silver price fluctuations 12.3: Rising, highest in many days

    Phương Anh |

    Silver price fluctuations 12.3: Silver prices increased simultaneously in both domestic and international markets.

    Domestic silver price

    As of 9:45 a.m. on March 12, the price of 999 silver bars at Phu Quy Jewelry Group was listed at 1.228 - 1.266 million VND/tael (buy - sell), an increase of 24,000 VND/tael for buying and an increase of 25,000 VND/tael for selling compared to early this morning.

    Dien bien gia bac trong nuoc nhung phien gan day. Bieu do: Phuong Anh
    Domestic silver price developments in recent sessions. Chart: Phuong Anh

    At the same time, the price of 999 taels of silver at Phu Quy Jewelry Group was listed at 1.228 - 1.266 million VND/tael (buy - sell), an increase of 24,000 VND/tael for buying and an increase of 25,000 VND/tael for selling compared to early this morning.

    World silver price

    On the world market, as of 9:46 a.m. on March 12 (Vietnam time), the world silver price listed on Kitco was at 32.77 USD/ounce, up 2.05% compared to the previous trading session.

    Dien bien gia bac the gioi nhung phien gan day. Nguon: Goldprice.org
    World silver price developments in recent sessions. Source: Goldprice.org

    Causes and predictions

    Gold and silver prices are climbing as safe-haven demand increases amid concerns about the US economic downturn and a major sell-off in the stock market, according to Kitco senior analyst Jim Wyckoff.

    The USD index, which fell to its lowest level in the past 4 months, also actively supported these two precious metals. Gold futures for April increased by $23.30 to $2,922.90 an ounce. The price of silver futures for May increased by 0.70 USD to 33.23 USD/ounce.

    This week, investors are paying attention to important US economic data, including the February consumer price index (CPI) report on Wednesday and the February producer price index (PPI) report on Thursday. The CPI is forecast to increase by 2.9% over the same period last year, down slightly from the increase of 3.0% in January. The PPI is expected to increase by 0.3% compared to the previous month, lower than the increase of 0.4% in the January report.

    The expert assessed that silver futures speculators are having a short-term advantage. The next target for buyers is to push silver prices above the important resistance level, the highest level in February at 34.56 USD/ounce.

    On the contrary, the sellers are aiming to pull prices below the strong support level at 31.365 USD/ounce.

    The first resistance level for silver prices was at 33.40 USD, followed by 34.00 USD. Meanwhile, the current important support levels are 33.00 USD/ounce and 32.50 USD/ounce.

    See more news related to silver prices HERE...

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    Illustrative photo: Phuong Anh

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    Ảnh minh họa: Phương Anh

    Silver price fluctuations 11.3: Domestic silver prices decrease

    Phương Anh |

    Silver price fluctuations 11.3: Silver prices have decreased simultaneously in both domestic and international markets.

    Ảnh minh họa: Phương Anh

    Silver price fluctuations 10.3: Heavy losses after a week of buying

    Phương Anh |

    Silver price fluctuations 10.3: Domestic silver prices continue to move sideways, investors suffer heavy losses when surfing.

    Silver price is likely to reach 250-500 USD/ounce

    Phương Anh (Theo Kitco) |

    Experts say that silver prices have been manipulated for the past 50 years, and the possibility of prices breaking out to 250-500 USD/ounce is entirely possible.