Domestic silver price
As of 10:00 on July 18, the price of 999 silver bars at Phu Quy Jewelry Group was listed at 1.451 - 1.496 million VND/tael (buy - sell); an increase of 7,000 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 1.451 - 1.496 million VND/tael (buy - sell); an increase of 7,000 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 38,693 - 39,893 million VND/kg (buy - sell); an increase of 187,000 VND/kg in both buying and selling directions compared to yesterday morning.
World silver price
On the world market, as of 10:00 a.m. on July 18 (Vietnam time), the world silver price was listed at 38.16 USD/ounce; up 0.16 USD compared to yesterday morning.
Causes and predictions
Silver prices continued to rise despite the USD recording a solid increase in the last trading session.
Senior market analyst Christopher Lewis said he is interested in the silver price breaking above the neutral level of the trading session on July 16 - this is a sign that silver is starting to regain its upward momentum.
However, he also said that the market needs to pay attention to the fact that a strong USD will affect silver prices.
"Investors need to note that the US dollar is also strengthening, which often tends to be unfavorable for silver prices, although not always" - Christopher Lewis emphasized that this is just one of the factors that need to be considered.
The expert added that in addition to paying attention to the USD index, the market also needs to monitor gold prices, because in the long term, gold and silver often fluctuate in the same direction.
Commenting on the potential for price increases, market analyst James Hyerczyk said that silver still has a lot of room to break out.
"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," said James Hyerczy.
See more news related to silver prices HERE...
