Domestic silver price
As of 9:40 a.m. on June 19, the price of 999 silver bars at Phu Quy Jewelry Group was listed at 1.411 - 1.455 million VND/tael (buy - sell); down 14,000 VND/tael for both buying and selling compared to early this morning.
The price of 999 gold bars at Phu Quy Jewelry Group was listed at 1.411 - 1.455 million VND/tael (buy - sell); down 14,000 VND/tael for both buying and selling compared to early this morning.
At the same time, the price of 999 taels of silver (1kg) at Phu Quy Jewelry Group was listed at 37,626 - 38,799 million VND/kg (buy - sell); down 373,000 VND/kg for buying and down 374,000 VND/kg for selling compared to early this morning.
World silver price
On the world market, as of 9:45 a.m. on June 19 (Vietnam time), the world silver price was listed at 36.65 USD/ounce.
Causes and predictions
Silver prices cool down but remain high. Meanwhile, gold prices fell sharply after the US Federal Reserve's decision to keep interest rates unchanged.
This decentralization has caused the gold- silver ratio to fall to 91.5 billion, said James Hyerczyk, a market analyst. This shows that silver is still superior to gold in terms of exchange rate and may continue to increase strongly if this ratio continues to decrease".
According to the expert, the recent increase in silver prices has been determined through a breakthrough - surge model, with important resistance levels overcome.
"Current support is at 35.46 USD/ounce, 34.87 USD/ounce. Silver continues to surpass, while gold is consolidating waiting for the Fed's move, with the psychological target of 40.00 USD/ounce getting closer and closer," said James Hyerczyk.
Regarding gold, despite a slight decrease in prices, James Hyerczyk said that gold is still supported by geopolitical tensions and demand from central banks, especially from China. However, recent growth in the stock market has reduced safe-haven demand for gold in the short term.
"Traders should monitor economic signals and silver trading volumes to confirm the next uptrend," James Hyerczyk said.
See more news related to silver prices HERE.
