Domestic silver prices
As of 9:00 AM on July 15, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at the threshold of 2.204 - 2.261 million VND/tael (buying - selling); an increase of 29,000 VND/tael on the buying side and an increase of 30,000 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 58,004 - 59,794 million VND/kg (buying - selling); an increase of 780,000 VND/kg on the buying side and an increase of 800,000 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 2.206 - 2.279 million VND/tael (buying - selling); an increase of 31,000 VND/tael on the buying side and an increase of 32,000 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 2.208 - 2.276 million VND/tael (buying - selling); an increase of 28,000 VND/tael on the buying side and an increase of 29,000 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 58.879 - 60.693 million VND/kg (buying - selling); an increase of 746,000 VND/kg on the buying side and an increase of 774,000 VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:10 am on July 15 (Vietnam time), the world silver price was listed at 58.45 USD/ounce; an increase of 0.81 USD/ounce compared to yesterday morning.
Causes and forecasts
World gold and silver prices simultaneously increased after the US consumer price index (CPI) report was lower than expected. This information weakened US Treasury bond yields and the USD, thereby supporting the recovery momentum of precious metals, despite fuel prices still hovering at high levels due to tensions in the Middle East.
According to precious metals analyst Christopher Lewis, silver prices rose sharply in the first trading session of July 15 (international time), but the market is still in a state of strong volatility as investors have to consider between inflation and geopolitical information.
He said that silver prices continued to fluctuate around the threshold of 60 USD/ounce after the US announced the consumer price index (CPI). Notably, the core CPI was at 0.0%, lower than forecast by 0.2%, showing that inflationary pressure is showing signs of cooling down.
According to this expert, other inflation indicators also tend to be weaker, increasing expectations that the US Federal Reserve (Fed) may not need to accelerate interest rate hikes. This is a factor that may support the prices of precious metals, including silver.
However, Mr. Christopher Lewis believes that investors should not be too optimistic based on just one inflation report. Technically, the trend of silver prices is still not really positive.
Regarding important technical milestones, experts believe that the 57 USD/ounce zone is playing a fairly good supporting role. If silver prices fall below this threshold, selling pressure may increase and pull prices down further. Conversely, in the short term, the market still tends to fluctuate around the current price range.
In addition to economic factors, Mr. Christopher Lewis believes that the tense developments in the Middle East continue to be one of the reasons why the financial market, especially the bond and precious metal markets, is fluctuating strongly. Accordingly, silver prices are forecast to face many volatile trading sessions in the near future.
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