Domestic silver price
As of 9:15 am on April 16, the price of 999 silver at the Phu Quy Gemstone Gemstone Group listed at the threshold of 1.241 - 1,279 million VND/tael (purchased - sold); Keep it in both directions and sell compared to early morning.
At the same time, the price of 999 silver silver at the golden gemstone group listed at the threshold of 1,241 - 1,279 million VND/tael (purchased - sold); Keep it in both directions and sell compared to early morning.
Silver price of 999 (1kilo) at the Phu Quy Gemstone Gold and Silver Group listed at 33.093 - 34.106 million VND/kg (purchased - sold); Keep it in both directions and sell compared to early morning.
World silver price
In the world market, as of 9:20 am on April 16 (Vietnam time), the world silver price listed on GoldPrice.org at the threshold of 32.4 USD/ounce; Increasing 0.2 USD compared to the morning.
Causes and forecasts
Silver price has increased slightly in the last session. According to FX Empire, this metal is taking advantage of the same elements as the gain momentum of gold, including a safe haven -shelter and weak dollar. This increases the attractiveness of silver as an alternative asset in an environment of risk.
Arslan Ali - Monetary and Goods analyst at FX Empire - said that the dollar still under pressure and maintained at the lowest level since April 2022. The market is expected to cut interest rates up to three times in 2025, when officials of the Federal Reserve Department (Fed) acknowledged potential risks.
"The weakness of the dollar has promoted gold and silver prices, both are sensitive to the fluctuations of real yields and the change of the dollar" - Arslan Ali shared.
According to Arslan Ali, the attention of investors is focusing on the speech of Fed President Jerome Powell today (16.4). The speech is expected to clarify how the central bank handles inflation risks and difficulties due to the trade war in the second half of this year.
Short -term forecast of silver price, Arslan Ali said that silver is creating a clear and maintained trend of 32.05 USD/ounce when the buyer pushes the price higher.
"The motivation is still strong, but silver is currently challenging at a higher price.
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