Domestic silver prices
As of 9:10 am on June 13, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at the threshold of 2.568 - 2.634 million VND/tael; 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 silver ingots 2025 Ancarat 999 (1kg) at Ancarat Gem Company is listed at 67.650 - 69.740 million VND/kg; an increase of 956,000 VND/kg on the buying side and an increase of 986,000 VND/kg on the selling side compared to yesterday morning.
The price of 999 silver (1 tael) of DOJI Gold and Gems Group Joint Stock Company is listed at the threshold of 2.567 - 2.652 million VND/tael; an increase of 31,000 VND/tael on the buying side and an increase of 32,000 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 2.572 - 2.652 million VND/tael; an increase of 32,000 VND/tael on the buying side and an increase of 33,000 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 68.586 - 70.719 million VND/kg; an increase of 720,000 VND/kg on the buying side and an increase of 746,000 VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:10 am on June 13 (Vietnam time), the world silver price was listed at 67.76 USD/ounce, up 0.6 USD compared to yesterday morning.
Causes and forecasts
Silver prices continued to rise sharply in the last trading session of the week as buying power returned to the market. This development takes place in the context of investors closely monitoring new information from the Middle East, a factor that could affect interest rate expectations and risk sentiment in the financial market.
Previously, silver prices had fallen sharply in many trading sessions. However, the market quickly reversed and recovered. According to Christopher Lewis - precious metals analyst at FX Empire, this shows that the 60 USD threshold is still playing an important supporting role for silver prices. If the recovery momentum is maintained, silver prices may continue to increase and move towards important resistance zones in the near future.
However, Mr. Lewis believes that investors need to be cautious in the current period. According to him, silver prices have shown signs of being oversold in the past, so a short-term recovery is understandable. "However, if the price falls below the 60 USD/ounce mark, the market may face stronger selling pressure and the risk of retreating to the 50 USD/ounce zone" - he analyzed.
Regarding long-term prospects, this expert believes that silver prices may be forming a wide fluctuation range, with a support zone around 60 USD/ounce and a resistance zone near 90 USD/ounce. Although the large fluctuation range may increase risks, this is also an opportunity for investors with appropriate strategies.
Mr. Lewis emphasized that the outlook for silver in the near future will depend significantly on interest rate developments and investors' risk-taking sentiment.
In which, the US bond market continues to be a factor to closely monitor. If bond yields decrease, silver prices may be supported to go up. Conversely, if yields increase sharply, downward pressure on silver and other precious metals may increase" - Christopher Lewis assessed.
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