Domestic silver price
As of 9:30 a.m. on March 15, the price of 999 silver bars at Phu Quy Jewelry Group was listed at VND1.269 - VND1.308 million/tael (buy - sell); an increase of VND9,000/tael for both buying and 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 1.269 - 1.308 million VND/tael (buy - sell); an increase of 9,000 VND/tael for both buying and selling compared to early this morning.
World silver price
On the world market, as of 9:45 a.m. on March 15 (Vietnam time), the world silver price listed on Goldprice.org was at 33.80 USD/ounce.
Causes and predictions
Gold prices continue to rise, driven by safe-haven demand amid growing concerns about a global trade war that could trigger a global economic downturn, according to Kitco senior analyst Jim Wyckoff. Along with that is a prediction for easier monetary policy from the US Federal Reserve (FED) after US inflation reports were stable this week.
Silver prices also increased along with that, reaching their highest level in the past 4.5 months. Gold in April recently rose $17.30, to $3,008.6 an ounce. Silver prices in May recently increased by 0.424 USD, to 34.73 USD/ounce.
The expert said that silver investors with a May term are currently having a solid technical advantage in the short term. The next target for silver investors is to push silver prices above the important resistance level - the highest level in October 2024 was 35.80 USD/ounce.
On the contrary, the sellers are aiming to pull prices down to this week's low of 32.215 USD/ounce.
The first resistance level of silver prices was at the highest level on Thursday at 34.85 USD/ounce, followed by 35.00 USD/ounce. Meanwhile, the current important support levels are 34.425 USD/ounce and then 34.00 USD/ounce.
See more news related to silver prices HERE...
