Domestic silver prices
As of 10:10 am on April 15, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at 2.989 - 3.062 million VND/tael (buying - selling); an increase of 105,000 VND/tael on the buying side and an increase of 107,000 VND/tael on the selling side compared to yesterday morning.
The price of silver ingots 2025 Ancarat 999 (1kg) at Ancarat Gem Company is listed at 78.764 - 81.154 million VND/kg (buying - selling); an increase of 2.774 million VND/kg on the buying side and an increase of 2.854 million VND/kg on the selling side compared to yesterday morning.
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 the threshold of 2.988 - 3.078 million VND/tael (buying - selling); an increase of 102,000 VND/tael on the buying side and an increase of 108,000 VND/tael on the selling side 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 2.999 - 3.092 million VND/tael (buying - selling); an increase of 107,000 VND/tael on the buying side and an increase of 111,000 VND/tael on the selling side compared to yesterday morning.
The price of 999 silver ingots (1kg) at Phu Quy Jewelry Group is listed at 79.973 - 82.453 million VND/kg (buying - selling); an increase of 2.854 million VND/kg on the buying side and an increase of 2.96 million VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 10:20 am on April 15 (Vietnam time), the world silver price was listed at 80.09 USD/ounce; up 3.15 USD compared to yesterday morning.
Causes and forecasts
Silver prices recorded a significant increase at the beginning of Wednesday's trading session. According to precious metals analyst Christopher Lewis from FX Empire, this development raises the question of whether the recovery momentum can continue after a period of sharp decline that lasted for several months, although before that silver was one of the hottest growing markets in the world.
From market analysis, Christopher Lewis said that the interest rate and yield factors of 10-year US government bonds - currently fluctuating around 4.3% - are continuing to play a dominant role in the silver price trend. In that context, many traders tend to see price drops as buying opportunities.
If positive macroeconomic factors appear, such as cooling geopolitical tensions, interest rates may fall, thereby supporting silver prices because this precious metal often fluctuates in the opposite direction to interest rates," he said.
Technically, Christopher Lewis believes that the 80 USD/ounce price range is considered an important psychological threshold, where the market has witnessed many strong fluctuations in the past. If the price sustainably exceeds this level, it can be considered a positive signal, opening up the possibility of moving towards the 90 USD/ounce zone.
Conversely, in case of adjustment, the expert said that the 70 USD/ounce zone is considered a noteworthy support level, as the market has reacted in this area many times before.
In general, the silver market is still in the stage of finding a clear direction, largely dependent on the developments of the US bond market and global economic - geopolitical information. Investors should monitor and manage risks cautiously, as silver prices often fluctuate strongly and may be greatly affected by macroeconomic factors as well as market sentiment" - Christopher Lewis gave his opinion.
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