Domestic silver prices
As of 9:40 am on September 14, the price of 999 silver (1 tael) of DOJI Jewelry Group Joint Stock Company was listed at the threshold of 2.238 - 2.338 million VND/tael (buying - selling), down 2,000 VND/tael in both directions compared to yesterday morning.
The price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company is listed at the threshold of 2.174 - 2.239 million VND/tael (buying - selling), down 6,000 VND/tael in both directions compared to yesterday morning.
The price of 2025 Ancarat 999 (1kg) silver ingots at Ancarat Gem Company is listed at 57.426 - 59.206 million VND/kg (buying - selling), down 160,000 VND/kg in both directions 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 2,205 - 2,273 million VND/tael (buying - selling), an increase of 2,000 VND/tael in both directions compared to yesterday morning.
The price of 999 silver ingots (1kg) at Phu Quy Jewelry Group is listed at 58.799 - 60.613 million VND/kg (buying - selling), an increase of 53,000 VND/kg on the buying side and 54,000 VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:40 am on September 14 (Vietnam time), the world silver price was listed at 64.22 USD/ounce, down 0.14 USD/ounce compared to yesterday morning.
Causes and forecasts
Silver prices experienced a week of strong fluctuations after inflation data showed that the core CPI in August was higher than expected. This information further strengthens expectations about the interest rate decision of the US Federal Reserve (Fed) at the meeting on September 15-16.
According to published data, the overall US CPI in August increased by 3.4% compared to the same period last year, in line with market forecasts. However, the core CPI - excluding food and energy prices - increased by 0.3% compared to the previous month, higher than the forecast of 0.2%.
Year-on-year, core CPI slightly decreased from 2.5% to 2.4%. However, the higher-than-expected monthly increase still made the market cautious about the possibility that the Fed will continue to maintain high interest rate policies.
A day earlier, the US producer price index (PPI) also increased by 0.4% in August. Inflation data appeared continuously at a time when the market closely monitored the Fed's moves before the policy meeting next week.
The possibility of the Fed adjusting interest rates was assessed by the market at over 60% and below 70% before the CPI report was released. Core CPI data higher than forecast helped this expectation continue to be maintained.
On the financial market, the yield of 10-year US Treasury bonds is still around 4.95%, while the USD is supported. This development creates additional pressure on precious metals, which are often affected when yields and the USD increase.
Although geopolitical factors may still affect the precious metals market, short-term developments are currently more focused on real interest rate expectations and signals from the Fed ahead of the policy meeting on September 15-16.
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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