Domestic silver prices
As of 9:15 am on September 18, the price of 999 silver (1 tael) of DOJI Jewelry Group Joint Stock Company was listed at the threshold of 2.305 - 2.405 million VND/tael (buying - selling), an increase of 94,000 VND/tael in both directions compared to yesterday morning.
The price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company is listed at the threshold of 2.207 - 2.273 million VND/tael (buying - selling), an increase of 69,000 VND/tael on the buying side and 71,000 VND/tael on the selling side compared to yesterday morning.
The price of silver ingots 2025 Ancarat 999 (1kg) at Ancarat Gem Company is listed at 58.314 - 60.114 million VND/kg (buying - selling), an increase of 1.844 million VND/kg on the buying side and 1.894 million VND/kg 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 2.237 - 2.306 million VND/tael (buying - selling), an increase of 68,000 VND/tael on the buying side and 70,000 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 59.653 - 61.493 million VND/kg (buying - selling), an increase of 1.814 million VND/kg on the buying side and 1.867 million VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:15 am on September 18 (Vietnam time), the world silver price was listed at 65.87 USD/ounce, up 2.60 USD/ounce compared to yesterday morning.
Causes and forecasts
Silver prices continue to rise as the market continues to analyze the latest interest rate decision of the US Federal Reserve (Fed).
Silver prices at times exceeded 66 USD/ounce, the highest level in the past 5 days. At the same time, the decline in US Treasury bond yields has partly put pressure on the USD, creating more favorable conditions for the prices of precious metals.
The decline in oil prices is also seen as a silver supporting factor, contributing to reducing concerns about inflationary pressure. If inflation expectations cool down, bond yields may face further downward pressure, thereby supporting non-performing assets such as silver.
However, the outlook for silver prices is still influenced by US monetary policy. The Fed has raised interest rates by 25 basis points, bringing the target interest rate margin to 3.75-4%. This is the first interest rate hike by the US central bank in three years.
The decision to raise interest rates was made in the context of high inflation in the US, while the economy continues to maintain its strength. New forecasts from policymakers also show that the possibility of further interest rate hikes is still being considered this year.
According to CME FedWatch tool, the market currently forecasts about 55% chance of the Fed raising interest rates at the October meeting. Meanwhile, the yield of 10-year US Treasury bonds is still near 5%, a factor that may limit the recovery momentum of silver prices.
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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