Domestic silver prices
As of 9:25 am on September 16, the price of 999 silver bars (1 tael) at Phu Quy Jewelry Group was listed at the threshold of 2.188 - 2.256 million VND/tael (buying - selling), an increase of 1,000 VND/tael in both directions compared to yesterday morning.
The price of 999 silver ingots (1kg) at Phu Quy Jewelry Group is listed at 58.346 - 60.159 million VND/kg (buying - selling), an increase of 27,000 VND/kg on the buying side and 26,000 VND/kg on the selling side compared to yesterday morning.
The price of 2024 Ancarat 999 silver bars (1 tael) at Ancarat Gem Company is listed at the threshold of 2,160 - 2.225 million VND/tael (buying - selling), down 3,000 VND/tael in both directions compared to yesterday morning.
The price of 2025 Ancarat 999 (1kg) silver ingots at Ancarat Gem Company is listed at 57.064 - 58.834 million VND/kg (buying - selling), down 80,000 VND/kg in both directions compared to yesterday morning.
At the same time, the price of 999 silver (1 tael) of DOJI Jewelry Group Joint Stock Company was listed at the threshold of 2.231 - 2.331 million VND/tael (buying - selling), an increase of 9,000 VND/tael in both directions compared to yesterday morning.
World silver price
On the world market, as of 9:25 am on September 16 (Vietnam time), the world silver price was listed at 63.86 USD/ounce, up 0.36 USD/ounce compared to yesterday morning.
Causes and forecasts
World silver prices continue to face pressure as the market awaits monetary policy decisions from the US Federal Reserve (Fed). The possibility of interest rate adjustments to increase may make yields from profitable assets such as bonds more attractive, thereby disadvantaging silver - a precious metal that does not generate yields.
Expectations that the Fed will maintain tight monetary policy also pushed US Treasury bond yields up. 10-year term yields reached their highest level in many years, nearly 5.03%.
On the international market, silver prices did not maintain the slight increase of the previous session and could not exceed the 64 USD/ounce mark. Investors tend to be cautious, waiting for a message from the Fed before making the next trading decision.
Before the Fed meeting, the market almost reflected in the price the possibility of interest rates increasing by 0.25 percentage points. Meanwhile, rising oil prices increased concerns about inflation, thereby continuing to support US bond yields.
Tensions in the Middle East also contributed to boosting demand for the USD, bringing the greenback to its highest level in about two weeks. A strong USD along with rising bond yields are adding pressure on silver prices, which do not generate interest income.
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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