Domestic silver price
As of 9:10 a.m. on April 1, the price of 999 silver bars at Phu Quy Jewelry Group was listed at VND1.304 - 1.344 million/tael (buy - sell); down VND9,000/tael for buying and down VND10,000/tael for selling compared to early this morning.
At the same time, the price of 999 taels of silver at Phu Quy Jewelry Group was listed at 1.304 - 1.344 million VND/tael (buy - sell); down 9,000 VND/tael for buying and down 10,000 VND/tael for selling compared to early this morning.
World silver price
On the world market, as of 9:15 a.m. on April 1 (Vietnam time), the world silver price listed on Goldprice.org was at 34.03 USD/ounce; down 0.3% compared to yesterday's trading session.
Causes and predictions
According to FXStreet, silver prices have decreased slightly, however, global trade wars and political tensions will boost cash flow to find a safe haven, creating favorable conditions for precious metals, especially white metals.
Traders are concerned about a new round of tariffs expected to be announced by the White House on Wednesday. US President Donald Trump said the administration is urgently completing details of the new tariff program, expected to take effect on Wednesday (September 2), with measures to restructure the US economy. Tax policies may put pressure on selling the USD and increase the prices of goods traded in USD in the coming time.
In addition, strong industrial demand, especially from new sectors such as electric vehicles and solar energy, is boosting demand for the white metal. The consumer electronics market is also expected to continue to grow, thanks to the development of artificial intelligence systems.
However, the US ISM manufacturing PMI for March will be a highlight today (Tuesday). If the results are better than expected, this could support the USD and limit the increase in silver prices.
Economic data to watch this week:
Tuesday: US ISM manufacturing PMI, JOLTS jobs open
Wednesday: US imposes global import tax, ADP Non-farm Salary Table
Thursday: ISM Service PMI and the number of weekly jobless claims
Friday: US non-farm payroll
See more news related to silver prices HERE...
