Domestic silver prices
As of 9:30 am on March 15, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at 3.033 - 3.108 million VND/tael (buying - selling); down 137,000 VND/tael on the buying side and down 140,000 VND/tael on the selling side compared to the closing session of last week.
The price of silver ingots 2025 Ancarat 999 (1kg) at Ancarat Gem Company is listed at 79.950 - 82.380 million VND/kg (buying - selling); down 3.642 million VND/kg on the buying side and down 3.734 million VND/kg on the selling side compared to the closing session of last week.
The price of Kim Phuc Loc 999 silver bars (1 tael) of Saigon Thuong Tin Commercial Joint Stock Company Limited (Sacombank-SBJ) is listed at 3.174 - 3.276 million VND/tael (buying - selling); down 75,000 VND/tael in both directions compared to the closing session of last week.
At the same time, the price of 999 silver bars (1 tael) at Phu Quy Jewelry Group was listed at the threshold of 3.022 - 3.115 million VND/tael (buying - selling); down 144,000 VND/tael on the buying side and down 149,000 VND/tael on the selling side compared to the closing session of last week.
The price of 999 silver ingots (1kg) at Phu Quy Jewelry Group is listed at 80.586 - 83.066 million VND/kg (buying - selling); down 3.84 million VND/kg on the buying side and down 3.973 million VND/kg on the selling side compared to the closing session of last week.
World silver price
On the world market, as of 9:30 AM on March 15 (Vietnam time), the world silver price was listed at 80.47 USD/ounce; down 3.94 USD compared to the closing session of last week.
Causes and forecasts
Precious metal prices fell in recent trading sessions as the USD strengthened and US interest rate cut expectations weakened, reducing the attractiveness of non-profit assets such as gold and silver.
According to a market analysis group at The Economic Times, the direct cause of this adjustment is the appreciation of the USD and US bond yields. As the USD strengthens, gold and silver - which are valued in USD - become more expensive for investors holding other currencies, thereby reducing demand. At the same time, economic and inflation data in the US makes the market lower expectations that the Federal Reserve (Fed) will soon cut interest rates, thereby increasing the opportunity cost of holding gold, an asset that does not yield yields.
In addition to monetary factors, the precious metal market is also affected by geopolitical and energy fluctuations. Rising oil prices and tensions in the Middle East increase concerns about prolonged inflation, causing investors to turn to the USD as a short-term shelter, instead of gold. This adds downward pressure on both gold and silver in the short term," experts at The Economic Times said.
However, the medium and long-term prospects of the precious metal are still positively assessed by many experts. The need for safe haven from economic risks, gold buying activities by central banks and capital flows into ETFs are still considered important supporting factors for gold prices. Meanwhile, silver has a characteristic of stronger fluctuations because it is both an investment asset and heavily dependent on industrial demand, especially in the electronics and renewable energy sectors.
Analysts at The Economic Times believe that the precious metal market may continue to fluctuate in the short term as investors closely monitor the Fed's monetary policy and global economic developments. For long-term investors, gold and silver are still considered tools for portfolio diversification and risk hedging, but disbursement needs to be cautious and closely monitor signals from international financial markets.
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