Domestic silver price
As of 9:30 a.m. on March 19, the price of 999 silver bars at Phu Quy Jewelry Group was listed at VND1.276 - 1.315 million/tael (buy - sell); an increase of VND3,000/tael for both buying and selling compared to early this morning.
At the same time, the price of 999 taels of silver at Phu Quy Jewelry Group was listed at 1.276 - 1.315 million VND/tael (buy - sell); an increase of 3,000 VND/tael for both buying and selling compared to early this morning.
World silver price
On the world market, as of 9:45 a.m. on March 19 (Vietnam time), the world silver price listed on Goldprice.org was at 34.05 USD/ounce; up 0.78% compared to the previous trading session.
Causes and predictions
According to FXStreet, silver prices hit a 4-month high, fluctuating near 34.10 USD/ounce in the last trading session. The precious metal increased in value as the USD weakened due to concerns about the US economic outlook under the leadership of President Donald Trump.
The USD Index (DXY) tracks the value of the greenback against 6 major currencies, falling to near a 5-month low, at 103.20 points.
Meanwhile, US officials have not ruled out the possibility of the economy falling into recession in the context of applying new economic policies, especially tariffs. Investors are concerned that Mr. Trump's tax policy could increase inflationary pressures and hold back global economic growth.
Currently, the market is focusing on the interest rate decision of the US Federal Reserve (FED) today (Wednesday). The FED is almost certain to keep interest rates unchanged in the range of 4.25% - 4.50%. Investors are particularly interested in the Fed's dot plot chart to assess the officials' views on the short- and long-term interest rate orientation.
Important economic data this week:
Wednesday: Fed monetary policy decision
Thursday: Swiss National Bank and Bank of England monetary policy decision, weekly jobless claims in the US, Philly Fed manufacturing survey, existing home sales in the US.
See more news related to silver prices HERE...
