Domestic silver prices
As of 9:15 am on June 17, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at the threshold of 2.657 - 2.725 million VND/tael; an increase of 38,000 VND/tael on the buying side and an increase of 39,000 VND/tael on the selling side compared to yesterday morning.
The price of 2025 Ancarat 999 (1kg) silver ingots at Ancarat Gem Company is listed at 70.006 - 72.166 million VND/kg; an increase of 1.01 million VND/kg on the buying side and an increase of 1.04 million 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 2.658 - 2.745 million VND/tael; an increase of 34,000 VND/tael on the buying side and an increase of 35,000 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 2.663 - 2.745 million VND/tael; an increase of 34,000 VND/tael on the buying side and an increase of 35,000 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 71.013 - 73.199 million VND/kg; an increase of 907,000 VND/kg on the buying side and an increase of 933,000 VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:10 am on June 17 (Vietnam time), the world silver price was listed at 70.47 USD/ounce, up 0.57 USD/ounce compared to yesterday morning.
Causes and forecasts
According to Christopher Lewis - precious metals analyst at FX Empire, silver prices are receiving support after a slight decrease at the beginning of Tuesday's trading session. Despite short-term correction pressure, buying pressure quickly returned, helping silver prices recover and remain around the 70 USD/ounce mark.
This expert believes that the 70 USD/ounce area is currently an important price range. The fact that the price is still maintained above long-term support levels shows that the upward trend of the market has not been broken.
According to Mr. Lewis, the diễn biến of 10-year US government bond yields continues to be a noteworthy factor. If yields further decrease, silver prices may be supported by lower opportunity costs to hold precious metals.
In the short term, silver prices may head towards the 74-75 USD/ounce range if the recovery momentum is maintained. Conversely, if selling pressure increases, prices may adjust to the 63-64 USD/ounce area before finding new support" - Christopher Lewis analyzed.
However, Mr. Lewis believes that the 60 USD/ounce zone is still an important support level for the market in the long term.
Experts from FX Empire also believe that the outlook for silver prices will continue to depend on interest rate fluctuations, bond markets and investor sentiment. In the long term, demand for silver is still assessed positively, creating a basis for the possibility of future price increases.
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