Domestic silver price
As of 11:25 on July 17, the price of 999 silver bars at Phu Quy Jewelry Group was listed at 1.444 - 1.489 million VND/tael (buy - sell); down 1,000 VND/tael for both buying and selling compared to yesterday morning.
The price of 999 gold bars at Phu Quy Jewelry Group was listed at 1.444 - 1.489 million VND/tael (buy - sell); down 1,000 VND/tael for both buying and selling compared to yesterday morning.
At the same time, the price of 999 taels of silver (1kg) at Phu Quy Jewelry Group was listed at 38,506 - 39,706 million VND/kg (buy - sell); down 27,000 VND/kg in both buying and selling directions compared to yesterday morning.
World silver price
On the world market, as of 11:30 a.m. on July 17 (Vietnam time), the world silver price was listed at 38 USD/ounce; up 0.16 USD compared to yesterday morning.
Causes and predictions
World silver prices recover after a series of days of price declines, as traders prepare for the possibility of prices surpassing current technical thresholds.
According to market analyst James Hyerczyk, the white metal is receiving support from similar fundamental factors that have helped push gold prices higher: a weakening US dollar and falling Treasury yields, reducing the opportunity cost of holding non-yielding precious metals.
James Hyerczyk said that the consumer price index (CPI) in June increased the most in the year, with inflation related to tariffs increasing the cost of core goods. The market has eased expectations of policy easing from the US Federal Reserve (FED).
"Reducing expectations of interest rate cuts is slowing the precious metal's rally. However, continued decline in service inflation could pave the way for a rate cut in September, creating momentum for both silver and gold," he said.
James Hyerczyk added that geopolitical tensions and US President Donald Trump's tariff policies continue to support demand for safe-haven assets such as precious metals - as global investors worry about the economic consequences of trade disputes.
See more news related to silver prices HERE...
