Domestic silver prices
As of 9:00 AM on September 12, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at the threshold of 2,180 - 2,245 million VND/tael (buying - selling); an increase of 41,000 VND/tael on the buying side and an increase of 42,000 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 57.586 - 59.366 million VND/kg (buying - selling); an increase of 1.09 million VND/kg on the buying side and an increase of 1.12 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 2,240 - 2,340 million VND/tael (buying - selling); an increase of 62,000 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 2.203 - 2.271 million VND/tael (buying - selling); an increase of 36,000 VND/tael on the buying side and an increase of 37,000 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 58.746 - 60.559 million VND/kg (buying - selling); an increase of 960,000 VND/kg on the buying side and an increase of 986,000 VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:00 AM on September 12 (Vietnam time), the world silver price was listed at 64.36 USD/ounce; up 0.99 USD compared to yesterday morning.
Causes and forecasts
Silver prices are struggling as the market is under pressure as investors increasingly expect the US Federal Reserve (Fed) to raise interest rates in September.
According to the CME FedWatch tool, the probability of the market forecasting the Fed to raise interest rates by 0.25 percentage points in next week's meeting has exceeded 72%. This level is significantly higher than about 61% before the US released the latest Producer Price Index (PPI) data.
The PPI data just released shows that price pressure in the US is still high. The full PPI in August increased by 5.4% compared to the same period last year, higher than the increase of 4.8% in July and exceeding analysts' forecast of 5.3%.
Compared to the previous month, the overall PPI increased by 0.4%, in line with the forecast. Meanwhile, the core PPI increased by 0.2%, slightly lower than the previous estimate.
These data make the market pay more attention to the possibility of the Fed maintaining tight monetary policy. Investors are currently continuing to wait for the US Consumer Price Index (CPI) report to have more signals about inflation developments and interest rate orientation in the coming time.
Besides the interest rate factor, the silver market is also affected by energy price movements and geopolitical instability. Rising oil prices may increase concerns about inflation, thereby creating more pressure on monetary policy expectations.
In that context, silver prices are under pressure from both US interest rate expectations and concerns related to inflation. The developments of the USD, US bond yields and upcoming economic data will continue to be important factors for the precious metals market.
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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