Domestic silver prices
Closing the week's trading session, the price of 999 silver bars (1 tael) at Phu Quy Jewelry Group was listed at the threshold of 2.227 - 2.296 million VND/tael (buying - selling).
The price of 999 silver ingots (1kg) at Phu Quy Jewelry Group is listed at 59.386 - 61.226 million VND/kg (buying - selling); an increase of 1.8 million VND/kg on the buying side and 1.86 million VND/kg on the selling side compared to a week ago.
The price of 2024 Ancarat 999 silver bars (1 tael) at Ancarat Gem Company is listed at the threshold of 2.211 - 2.277 million VND/tael (buying - selling).
The price of silver ingots 2025 Ancarat 999 (1kg) at Ancarat Gem Company is listed at 58.230 - 60.220 million VND/kg (buying - selling); down 516,000 VND/kg on the buying side and 339,000 VND/kg on the selling side compared to a week ago.
The price of 999 silver (1 tael) of DOJI Gold and Gems Group Joint Stock Company is listed at the threshold of 2.312 - 2.397 million VND/tael (buying - selling).
World silver price
On the world market, as of 9:00 AM on September 20 (Vietnam time), the world silver price is listed at 66.08 USD/ounce.
Causes and forecasts
Silver prices experienced a week of strong fluctuations. The precious metal is under pressure after the monetary policy decision of the US Federal Reserve (Fed), before recovering at the end of the week when US government bond yields cooled down.
The Fed has decided to raise the federal fund interest rate by 0.25 percentage points, bringing the target range to 3.75 - 4.00%.
However, inflation is still high. Maintaining a high interest rate level is one of the tools used to curb inflation and bring the price increase rate back to the target of 2%.
Rising interest rates and yields on bonds often put pressure on silver and precious metals prices. The reason is that when interest rates rise, assets that can generate income from interest rates can become more attractive than interest-free assets like silver.
By the end of the week, silver prices recovered as US government bond yields showed signs of cooling down. This development added support for silver and precious metals, which do not generate interest income.
The cooling down of yields partly compensates for the pressure from the Fed's monetary policy decision. However, silver prices still face some obstacles as US bond yields remain high and the Fed signals that it may continue to tighten monetary policy if necessary to control inflation.
In the near future, silver prices may continue to fluctuate as the market monitors the diễn biến of the USD, bond yields and new signals from the Fed.
The information in the article only reflects market developments, not investment recommendations. Investors need to carefully consider risk factors before making a decision.
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