Silver price fluctuations 13.3: Continue to increase

Phương Anh |

Silver price fluctuations 13.3: Silver extends the price increase streak in both domestic and international markets.

Domestic silver price

As of 9:25 a.m. on March 13, the price of 999 silver bars at Phu Quy Jewelry Group was listed at VND1.243 - VND1.281 million/tael (buy - sell), an increase of VND15,000/tael for both buying and 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 1.243 - 1.281 million VND/tael (buy - sell), an increase of 15,000 VND/tael for both buying and selling compared to early this morning.

World silver price

In the world market, as of 9:27 a.m. on March 13 (Vietnam time), the world silver price listed on Goldprice.org was at 33.23 USD/ounce, up 1.37% 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

According to Kitco senior analyst Jim Wyckoff, silver prices recorded the strongest increase in 3 weeks. The reason is that the US inflation report shows that the consumer price index (CPI) is slightly lower than expected.

In addition, safe-haven demand for this precious metal remains strong as concerns about global trade tensions could slow down the world's economic growth rate.

The price of silver futures for May increased by 0.538 USD, reaching 33.68 USD/ounce.

The February CPI report showed that US consumer prices rose 2.8% year-on-year, down from the forecast of 2.9% and down from a 3.0% increase in January. The Producer Price Index (PPI) report, due today, is expected to increase by 0.3% compared to the previous month, down from 0.4% in January. After the CPI report was released, the USD index fell almost to its previous increase.

According to the expert, investors betting on increased silver futures for May are dominating in the short term. The next target for buyers is to push prices above the strong resistance level at the February peak of 34.56 USD/ounce. On the contrary, the sellers are looking to push prices below the important support level at the bottom of February at 31.365 USD/ounce.

Regarding important prices:

The first resistance level was 34.00 USD/ounce, followed by 34.56 USD/ounce.

The first support level was 33.18 USD/ounce, followed by 33.00 USD/ounce.

See more news related to silver prices HERE...

Phương Anh
TIN LIÊN QUAN

Silver price fluctuations 12.3: Rising, highest in many days

|

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

Silver price fluctuations 11.3: Domestic silver prices decrease

|

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

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

|

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

Mr. Zelensky declares he is aware of Russia's next step

|

President Zelensky denied recent reports of the disadvantage of the Ukrainian army and said he was well aware of the Russian army's next steps.

Mr. Trump launched an overwhelming military campaign in Yemen

|

US President Donald Trump ordered a "determined" military action against the Houthi forces in Yemen, killing dozens of people.

Former volleyball player Thanh Lien is away from her husband, not worried about income

|

Former volleyball player Le Thi Thanh Lien received her husband's support when switching to youth training.

Gold price today 16.3: Huge profit of 1.7 million VND after a week

|

Gold price today 16.3: After a week of strong price increases, buyers made a profit of up to 1.7 million VND/tael for short-term investment.

Expanding nearly 40km of road in Dong Nai connecting Long Thanh airport

|

Dong Nai - The project to upgrade and expand DT 773 route, nearly 40km long, passes through 3 districts of the province connecting Ho Chi Minh City Ring Road 4 and Long Thanh airport.

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.

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.

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.