Domestic silver prices
As of 9:35 am on May 19, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at 2,870 - 2,944 million VND/tael (buying - selling); an increase of 62,000 VND/tael on the buying side and an increase of 64,000 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 75.666 - 78.006 million VND/kg (buying - selling); an increase of 1.656 million VND/kg on the buying side and an increase of 1.7606 million VND/kg on the selling side compared to yesterday morning.
The price of 999 silver (1 tael) of DOJI Jewelry Group Joint Stock Company is listed at the threshold of 2.557 - 2.961 million VND/tael (buying - selling); an increase of 69,000 VND/tael on the buying side and an increase of 71,000 VND/tael 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 2.872 - 2.961 million VND/tael (buying - selling); an increase of 58,000 VND/tael on the buying side and an increase of 60,000 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 76.586 - 78.959 million VND/kg (buying - selling); an increase of 1.547 million VND/kg on the buying side and an increase of 1.6 million VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:35 AM on May 19 (Vietnam time), the world silver price was listed at 76.28 USD/ounce; an increase of 1.32 USD compared to yesterday morning.
Causes and forecasts
The silver market is undergoing a period of strong volatility as it is simultaneously affected by US interest rates and geopolitical tensions in the Middle East.
At the beginning of the trading week, silver prices fell sharply due to investors' cautious sentiment. However, buying power quickly returned, helping the market recover after the initial sell-off. This development shows that investors still expect the precious metal to be supported if interest rates in the US tend to cool down in the near future.
According to Mr. Christopher Lewis - precious metals expert at FX Empire, the 80 USD/ounce mark is currently an important price range for the market. If silver maintains its recovery momentum from this range, the price may head towards the 90 USD/ounce threshold in the following sessions.
According to experts from FX Empire, the 80 USD/ounce level is currently considered relatively reasonable in the context that the market is not significantly affected by supply-demand factors, but is mainly dominated by interest rate expectations.
In addition, he believes that geopolitical developments in the Middle East are making market sentiment more sensitive. Investors are currently closely monitoring the possibility that the US may carry out more military attacks, because this could directly affect the cash flow sheltering in precious metals.
Although still leaning towards a positive scenario, this expert warns that the silver market may fall to the 60 USD/ounce zone if it breaks the support level of 70 USD/ounce, especially in the event that interest rates in the US increase sharply again. However, he assesses that this possibility is not yet high.
The market will continue to fluctuate fiercely according to news headlines" - Mr. Lewis emphasized, while recommending that investors need to control their position size reasonably to limit risks in the current period of strong volatility.
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