Domestic silver price
As of 11:30 a.m. on March 21, the price of 999 silver bars at Phu Quy Jewelry Group was listed at VND1,253 - VND1,292 million/tael (buy - sell); down VND16,000/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 1,253 - 1,292 million VND/tael (buy - sell); down 16,000 VND/tael for both buying and selling compared to early this morning.
World silver price
On the world market, as of 11:45 a.m. on March 21 (Vietnam time), the world silver price listed on Goldprice.org was at 33.18 USD/ounce; down 0.84% compared to the previous trading session.
Causes and predictions
According to Kitco senior analyst Jim Wyckoff, silver futures fell slightly. Precious metals speculators have not been affected by central bank decisions this week, which has helped them feel more confident.
Gold prices in April most recently rose $5.00 to $3,046.00. Meanwhile, the price of silver in May fell by 0.215 USD, down to 33.99 USD.
The market responded to the FOMC meeting on Wednesday afternoon without any changes to US interest rates. However, the Federal Reserve (FED) has slowed down the selling of its stocks - a relatively dovish move.
In addition, the Bank of England and the Riksbank of Sweden will maintain their monetary policy as expected.
In other financial markets, today, the USD index recorded an increase, Nymex crude oil prices increased and traded around 68.25 USD/barrel. The yield on the 10-year US Treasury note is currently around 4.2%.
The expert assessed that silver futures speculators are having a short-term advantage. The next target for buyers is to push silver prices above the important resistance level at 35.80 USD - the highest peak in October 2024.
On the contrary, the sellers are aiming to pull prices below the strong support level at 32.215 USD/ounce.
The first resistance level for silver prices was at 34.595 USD, followed by 35.00 USD. Meanwhile, the current important support levels are 33.615 USD/ounce and 33.00 USD/ounce.
See more news related to silver prices HERE...
