Domestic silver prices
As of 9:15 am on September 17, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at 2.138 - 2.202 million VND/tael (buying - selling), down 22,000 VND/tael on the buying side and 23,000 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 56,470 - 58,220 million VND/kg (buying - selling), down 594,000 VND/kg on the buying side and 614,000 VND/kg on the selling side 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 2.211 - 2.311 million VND/tael (buying - selling), down 20,000 VND/tael in both directions compared to yesterday morning.
The price of 999 silver bars (1 tael) at Phu Quy Jewelry Group is listed at the threshold of 2.169 - 2.236 million VND/tael (buying - selling), down 19,000 VND/tael on the buying side and 20,000 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 57.839 - 59.626 million VND/kg (buying - selling), down 507,000 VND/kg on the buying side and 533,000 VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:15 am on September 17 (Vietnam time), the world silver price was listed at 63.27 USD/ounce, down 0.59 USD/ounce compared to yesterday morning.
Causes and forecasts
Silver prices fell as the USD appreciated and US Treasury bond yields rose. This development put pressure on silver - a metal that does not generate interest income - after the monetary policy decision of the US Federal Reserve (Fed).
The Fed has decided to raise the federal fund interest rate by 0.25 percentage points, bringing the target range to 3.75 - 4.00%.
In a post-meeting announcement, the Fed said that US economic activity continued to grow steadily, while domestic spending still maintained its strength. The labor market also did not have many changes in the unemployment rate.
However, inflation is still high. Maintaining a high interest rate level is considered one of the tools to curb inflation and bring the price increase rate back to the target of 2%.
Rising interest rates and bond yields often put pressure on precious metals such as silver, because investors tend to pay more attention to assets that can generate income. However, the decline of silver is somewhat limited due to the possibility that the Fed will raise interest rates by 0.25 percentage points that the market had predicted in advance.
The Fed also gave a cautious assessment of inflation, saying that price pressure is still high while the economy is strong enough for this agency to continue to focus on the goal of price stabilization. The labor market is still assessed to be relatively favorable.
The information in the article only reflects market developments, not investment recommendations. Investors need to carefully consider risk factors before making a decision.
See more news related to silver prices HERE...
