Domestic silver prices
As of 10:15 am on August 15, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at the threshold of 2.283 - 2.342 million VND/tael (buying - selling); an increase of 27,000 VND/tael on the buying side and an increase of 28,000 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 60.094 - 61.954 million VND/kg (buying - selling); an increase of 728,000 VND/kg on the buying side and an increase of 748,000 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 2.289 - 2.365 million VND/tael (buying - selling); an increase of 26,000 VND/tael on the buying side and an increase of 27,000 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 2.294 - 2.365 million VND/tael (buying - selling); an increase of 26,000 VND/tael on the buying side and an increase of 27,000 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 61.173 - 63.066 million VND/kg (buying - selling); an increase of 694,000 VND/kg on the buying side and an increase of 720,000 VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 10:15 am on August 15 (Vietnam time), the world silver price was listed at 64.54 USD/ounce; up 0.44 USD/ounce compared to yesterday morning.
Causes and forecasts
Silver prices are showing signs of recovery after many weeks of fluctuations. However, the market is still affected by US interest rates and external economic and geopolitical factors.
According to precious metals analyst Christopher Lewis, silver prices have increased in the past week, although there was a period of correction after a sharp increase. According to Mr. Lewis, this development still shows positive signals as silver has recovered for about two weeks and is trying to reverse the trend.
The slight decrease in interest rates in recent weeks also creates more momentum for silver prices. However, the market is still heavily influenced by external factors, especially the Middle East situation. Developments in this region may affect the US bond market and bond yields, thereby affecting silver prices," he said.
According to expert Christopher Lewis, the market is currently interested in how the US Federal Reserve (Fed) reacts to economic changes, especially interest rate prospects.
Previously, the market was concerned that the Fed might maintain a tougher monetary policy. However, the latest economic data shows that the US economy is showing signs of slowing down.
However, experts believe that it is still too early to confirm that this trend will last. Investors need more data to assess whether the US economy is actually slowing down or only fluctuating in the short term.
Mr. Lewis believes that the continuous increase in silver prices is a positive sign. However, the market is still quite far from establishing a new peak increase.
In case the recovery momentum continues to be maintained, the 70 USD/ounce mark may become a noteworthy target. This is a psychologically significant price threshold and used to play an important role in support and resistance areas before.
In the opposite direction, if silver prices weaken, the 60 USD/ounce and 55 USD/ounce levels may become noteworthy support zones.
According to experts, the silver market still needs more momentum to clearly define the next direction. US interest rates, economic developments and geopolitical situation will continue to be important factors dominating silver prices in the coming time.
The information in the article only reflects market developments, not investment recommendations. Investors need to carefully consider risk factors before making a decision.
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