Domestic silver prices
As of 9:10 am on June 15, the price of 2024 Ancarat 999 silver bars (1 tael) at Ancarat Gem Company was listed at the threshold of 2.655 - 2.723 million VND/tael; an increase of 87,000 VND/tael on the buying side and an increase of 89,000 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 69.954 - 72.114 million VND/kg; an increase of 2.304 million VND/kg on the buying side and an increase of 2.374 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 2,660 - 2,747 million VND/tael; an increase of 93,000 VND/tael in the buying direction and an increase of 95,000 VND/tael in the selling direction 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 2.665 - 2.747 million VND/tael; an increase of 93,000 VND/tael on the buying side and an increase of 95,000 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 71.066 - 73.253 million VND/kg; an increase of 2.48 million VND/kg on the buying side and an increase of 2.534 million VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:10 am on June 15 (Vietnam time), the world silver price was listed at 70.21 USD/ounce, up 2.45 USD compared to yesterday morning.
Causes and forecasts
Opening the new trading week, silver prices continued to maintain their upward momentum. Mr. James Hyerczyk - precious metals analyst at FX Empire - said that silver prices have received short-term support from expectations that tensions in the Middle East will cool down. Information about the possibility of reaching a peace agreement has caused crude oil prices to fall, thereby creating momentum to help silver recover.
According to Mr. Hyerczyk, the upward momentum mainly came from bottom-fishing and compensatory buying of short-selling positions after prices retreated to important support zones.
However, this expert believes that the main trend of silver is still downward. The price rebound from the bottom only reflects the buying force appearing at low prices, not enough basis to confirm the reversal of the trend.
According to Mr. Hyerczyk, the diễn biến of the silver market this week will largely depend on the interest rate decision of the US Federal Reserve (Fed) and the geopolitical situation in the Middle East.
If inflation continues to cool down and the Fed maintains a cautious stance, silver may receive more recovery momentum. In the opposite case, last week's price increase may only be technical and difficult to last" - James Hyerczyk analyzed.
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