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.

Mercedes driver hits a series of vehicles, many injured

|

HCMC - A female Mercedes driver crashed into a series of motorbikes at Thu Duc intersection (HCMC), injuring many people.

Coming to Hanoi is no longer a nightmare for international tourists

|

Hanoi - Thanks to improved infrastructure and traffic awareness, international tourists can now clearly feel the change when traveling on Hanoi streets.

5-storey hotel fire in Ho Chi Minh City, 6 people escaped

|

HCMC - A hotel in Thu Duc City suddenly caught fire, 6 people inside were fortunately rescued by firefighters.

Mr. Trump suspends operations, VOA US switches to music broadcasting

|

The US VOA Radio Station was forced to temporarily suspend operations after President Trump signed a decree, affecting the jobs of about 1,300 people.

Hong Nhung makes a will during cancer treatment

|

Diva Hong Nhung shares about her decision to make a will at the age of 55.

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.