Domestic silver prices
As of 9:05 am on May 13, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at the threshold of 3.201 - 3.280 million VND/tael (buying - selling); an increase of 9,000 VND/tael on the buying side and an increase of 10,000 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 84.396 - 86.966 million VND/kg (buying - selling); an increase of 256,000 VND/kg on the buying side and an increase of 266,000 VND/kg on the selling side compared to yesterday morning.
The price of 999 silver (1 tael) of DOJI Jewelry Group Joint Stock Company is listed at the threshold of 3.232 - 3.315 million VND/tael (buying - selling); an increase of 30,000 VND/tael on the buying side and an increase of 15,000 VND/tael on the selling side compared to yesterday morning.
At the same time, the price of 999 silver bars (1 tael) at Phu Quy Jewelry Group was listed at the threshold of 3.232 - 3.315 million VND/tael (buying - selling); an increase of 30,000 VND/tael on the buying side and an increase of 15,000 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 86.186 - 88.399 million VND/kg (buying - selling); an increase of 800,000 VND/kg on the buying side and an increase of 373,000 VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:15 am on May 13 (Vietnam time), the world silver price was listed at 86.79 USD/ounce; up 0.76 USD compared to yesterday morning.
Causes and forecasts
The silver market in Wednesday's trading session recorded efforts to increase in price at the beginning of the session, but the upward momentum was still limited as pressure from the high interest rate environment in the US increased.
According to Christopher Lewis - precious metals expert at FX Empire, the continued increase in 10-year US government bond yields has put pressure on precious metals, including silver, causing the market recovery momentum to remain unstable and still struggling.
This development shows that the market is reacting quite sensitively to the prospects of interest rates and bond yields, which reduce the attractiveness of non-performing assets such as silver," he said.
Mr. Christopher Lewis said that silver is currently assessed to fluctuate in the range of about 70 - 90 USD/ounce, with a trend of returning to the balance zone around 80 USD/ounce - a level considered a reasonable price range in the short term.
Regarding the outlook, if silver prices sustainably exceed the 90 USD/ounce mark, the market may continue to rise to the 100 USD/ounce zone. Conversely, the 70 USD/ounce mark is still an important support zone, difficult to fall deeply below this level in the short term, although prices may still return to test this area when the market fluctuates" - Christopher Lewis analyzed.
The expert also emphasized that silver is a volatile market, so caution is needed in participating and managing risks to avoid being affected when prices change rapidly.
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