Domestic silver price
As of 9:50 a.m. on September 18, the price of 999 999 coins (1 tael) at Phu Quy Jewelry Group was listed at 1.595 - 1.644 million VND/tael (buy - sell); down 21,000 VND/tael for buying and down 22,000 VND/tael for selling compared to yesterday morning.
The price of 999 gold bars (1 tael) at Phu Quy Jewelry Group was listed at 1.595 - 1.644 million VND/tael (buy - sell); down 21,000 VND/tael for buying and down 22,000 VND/tael for selling compared to yesterday morning.
The price of 999 taels of silver (1kg) at Phu Quy Jewelry Group was listed at 42.533 - 43.839 million VND/kg (buy - sell); down 560,000 VND/kg for buying and down 587,000 VND/kg for selling compared to yesterday morning.
World silver price
On the world market, as of 9:50 a.m. on September 18 (Vietnam time), the world silver price was listed at 41.7 USD/ounce; down 0.35 USD compared to yesterday morning.
Causes and predictions
Silver prices fell sharply as the market reacted to the US Federal Reserve's decision to cut interest rates by 0.25 percentage points - the first signal for a new easing cycle, after US economic data showed that the labor market was cooling and inflation cooling down.
Not only the Fed, the Central banks of Canada and China are also expected to soon ease policy, while Japan and the UK are likely to keep interest rates unchanged. This context has caused cash flow in the global financial market to shift strongly, directly affecting the precious metal group.
However, in the long term, expert Peter Krauth ( SilverStockInvestor) commented that silver prices will still be boosted by a lack of supply.
The silver market is scarce, secondary sources have been falling sharply for the past 4 - 4.5 years, Krauth said. He reiterated that the price of silver has nearly doubled from $22/ounce in February last year, a clear testament to this trend.
See more news related to silver prices HERE...
