Domestic silver price
As of 9:05 a.m. on June 1, the price of 999 silver bars at Phu Quy Jewelry Group was listed at VND1.267 - 1.306 million/tael (buy - sell); unchanged in both buying and selling directions compared to early this morning.
The price of 999 gold bars at Phu Quy Jewelry Group was listed at 1.267 - 1.306 million VND/tael (buy - sell); unchanged in both buying and selling directions compared to early this morning.
At the same time, the price of 999 (1kilo) taels at Phu Quy Jewelry Group was listed at 33.786 - 34.826 million VND/kg (buy - sell); unchanged in both buying and selling directions compared to early this morning.
In the trading session last week (morning of May 25, 2025), the price of 999 gold bars (1kilo) at Phu Quy Jewelry Group was listed at VND34.053 - 35.093 million/kg (buy - sell).
Thus, if buying 999 taels of silver (1kilo) at Phu Quy Jewelry Group on May 25 and selling it this morning (January 1), the buyer will lose 0.773 million VND (773,000 VND/kg).
World silver price
On the world market, as of 9:06 a.m. on June 1 (Vietnam time), the world silver price listed on Goldprice.org was at 32.91 USD/ounce.
Causes and predictions
According to FX Empire, silver prices are still moving sideways in a narrow range, "stuck" between two important technical levels of 32.70 USD/ounce and 33.70 USD/ounce.
If silver breaks above the 33.70 USD/ounce mark, the trend could shift to a clear increase with the next target being around 34.59 - 34.87 USD/ounce. Conversely, if prices close below 32.70 USD/ounce, the market could reverse to decrease, with deeper support around 31.56 USD/ounce.
Information surrounding US tariff policies, especially the Court of Appeals temporary restoration of some of Donald Trumps tariffs, is causing a lack of market direction, said James Hyerczyk, a market analyst at FX Empire. Although inflationary pressures are still low, the risk of rising costs and weakening industrial demand still exists."
The expert said that in the context of cooling inflation but policy is still unstable, silver prices are likely to continue to move sideways.
"A breakout above 33.70 USD/ounce or a decrease below 32.70 USD/ounce will be a clearer sign of direction. Before that, the trend was still considered neutral and prices could fluctuate strongly depending on trade developments or statements from the US Federal Reserve (FED)" - James Hyerczyk said.
See more news related to silver prices HERE...
