Domestic silver prices
As of 9:15 am on June 19, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at the threshold of 2.455 - 2.518 million VND/tael; down 168,000 VND/tael on the buying side and down 172,000 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 64.646 - 66.646 million VND/kg; down 4.448 million VND/kg on the buying side and down 4.588 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 2.454 - 2.535 million VND/tael (buying - selling); down 163,000 VND/tael on the buying side and down 168,000 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 the threshold of 2.456 - 2.532 million VND/tael (buying - selling); down 166,000 VND/tael on the buying side and down 171,000 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 65.493 - 67.519 million VND/kg (buying - selling); down 4.426 million VND/kg on the buying side and down 4.560 million VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:20 am on June 19 (Vietnam time), the world silver price was listed at 65.05 USD/ounce, down 4.46 USD/ounce compared to yesterday morning.
Causes and forecasts
According to Mr. Christopher Lewis - precious metals analyst at FX Empire, silver prices fell in this morning's trading session even though interest rates in the US are trending downwards. This development shows that investor sentiment and behavior in the market are changing compared to the previous period.
Mr. Lewis said silver prices once increased at the beginning of the session, but the 70 USD/ounce mark is becoming a significant resistance. In the context of falling interest rates but silver prices still going down, the market may be reflecting expectations that inflation has gradually peaked.
The expert said that the 60 USD/ounce zone currently plays a role as an important support threshold. If the price falls below this level, the silver market's prospects may become more negative.
Mr. Lewis said that silver prices may still fall further in the short term and retreat to the 64 USD/ounce zone. According to him, the market is still in a correction phase after the previous strong increase, so the downward pressure has not completely ended.
According to Mr. Lewis, the current downward pressure also partly stems from investor profit-taking activities ahead of the Juneteenth holiday in the US. "The prolonged market shutdown has led many investors to choose to reduce holdings to limit risks from unexpected fluctuations during the trading break," he said.
However, experts from FX Empire believe that demand in the market is still present and not to the point of being pessimistic about long-term prospects. However, in the short term, silver prices may still continue to be under adjustment pressure as the general trend of the market is weakening.
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