Domestic silver prices
Closing the week's trading session, the price of 999 silver bars (1 tael) at Phu Quy Jewelry Group was listed at the threshold of 2.203 - 2.271 million VND/tael (buying - selling).
The price of 999 silver ingots (1kg) at Phu Quy Jewelry Group is listed at 58.746 - 60.559 million VND/kg (buying - selling). The buying - selling difference is at 1.813 million VND/kg.
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).
The price of 2024 Ancarat 999 silver bars (1 tael) at Ancarat Gem Company is listed at the threshold of 2,180 - 2,245 million VND/tael (buying - selling).
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). The difference between buying and selling is at 1.780 million VND/kg.
World silver price
On the world market, as of 9:30 AM on September 13 (Vietnam time), the world silver price was listed at 64.36 USD/ounce.
Causes and forecasts
World silver prices recovered in the last trading session of the week, after being pressured by the latest US inflation data. The weakening USD supported this precious metal to regain its upward momentum.
Previously, silver prices fell to 62.94 USD/ounce, the lowest level in about 3 weeks, right after the US released the August inflation report.
According to the US Bureau of Labor Statistics, the consumer price index (CPI) in August increased by 3.4% compared to the same period last year, remaining unchanged compared to July and in line with market forecasts. However, by month, CPI increased by 0.4%, significantly higher than the 0.1% increase of the previous month.
Immediately after the data was released, silver prices were under pressure due to the higher-than-expected monthly core CPI boosting the USD. The market is concerned that persistent inflation could cause the US Federal Reserve (Fed) to maintain tight monetary policy for a longer time.
High interest rates are often detrimental to precious metals that do not generate yields like silver, because the opportunity cost of holding this asset increases.
However, the rise of the USD did not last long. The fact that the overall CPI year-on-year did not increase again, while core inflation continued to cool down, partly reduced pressure on the Fed's monetary policy expectations.
In the near future, silver and USD prices may continue to fluctuate as investors monitor new signals about inflation and the monetary policy orientation of the Fed.
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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