Domestic silver prices
As of 9:05 am on May 15, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at the threshold of 2.998 - 3.062 million VND/tael (buying - selling); down 196,000 VND/tael on the buying side and down 201,000 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 79.124 - 81.154 million VND/kg (buying - selling); down 5.23 million VND/kg on the buying side and down 5.36 million VND/kg on the selling side compared to yesterday morning.
The price of 999 silver (1 tael) of DOJI Jewelry Group Joint Stock Company is listed at the threshold of 3.006 - 3.083 million VND/tael (buying - selling); down 202,000 VND/tael on the buying side and down 207,000 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 3.006 - 3.083 million VND/tael (buying - selling); down 202,000 VND/tael on the buying side and down 207,000 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 80.159 - 82.213 million VND/kg (buying - selling); down 5.387 million VND/kg on the buying side and down 5.52 million VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:05 am on May 15 (Vietnam time), the world silver price was listed at 81.13 USD/ounce; down 5.21 USD compared to yesterday morning.
Causes and forecasts
The silver market continued to experience strong fluctuations on Friday, as investors simultaneously monitored interest rate movements in the US and supply shortages in the precious metals market.
In the trading session, silver prices at times increased sharply but quickly reversed and turned down.
According to Mr. Christopher Lewis - precious metals expert of FX Empire, the 90 USD/ounce threshold is still an important resistance zone that the market cannot conquer. If this level cannot be surpassed, silver prices are at risk of adjusting down to the 80 USD/ounce zone in the near future.
In the opposite direction, if the buying force is strong enough to push the price above 90 USD/ounce, the market may open a new wave of increase towards the 95 USD/ounce mark. However, this is an area that is very difficult to break through due to profit-taking pressure and investor caution" - Christopher Lewis said.
Christopher Lewis said that one of the significant factors affecting silver prices today is the diễn biến of US bond yields. In Thursday's session, US interest rates slightly decreased, partly supporting the precious metal market. However, if yields turn around and increase sharply again, silver may continue to be under downward pressure due to cash flow shifting to higher-yield assets.
However, the expert believes that the long-term foundation of silver is still relatively positive thanks to the prolonged supply shortage. Market demand is currently considered to be exceeding the ability to meet, creating an important support for silver prices in the long term.
Artificial intelligence (AI) trading activities are also accounting for a large proportion in the market, making price fluctuations faster and more unpredictable in the short term.
According to Christopher Lewis, silver prices are still likely to rise higher in the long term. However, for the upward trend to become clearer, the market needs more positive signals from the geopolitical situation, especially in the Middle East region. This may cause investors to reduce bond holdings, return to seek yields in riskier assets and increase investment in precious metals.
He also noted that the correlation between the bond and silver markets has shown signs of weakening in recent sessions, but this is still an important factor that needs to be further monitored in the coming time.
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