Domestic silver prices
As of 9:40 am on April 21, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at 2.972 - 3.045 million VND/tael (buying - selling); down 37,000 VND/tael on the buying side and down 38,000 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 78.320 - 80.700 million VND/kg (buying - selling); down 984,000 VND/kg on the buying side and down 1.014 million VND/kg on the selling side compared to yesterday morning.
The price of Kim Phuc Loc 999 silver bars (1 tael) of Saigon Thuong Tin Commercial Joint Stock Company Limited (Sacombank-SBJ) is listed at 2.964 - 3.054 million VND/tael (buying - selling); down 39,000 VND/tael in both directions compared to yesterday morning.
At the same time, the price of 999 silver bars (1 tael) at Phu Quy Jewelry Group was listed at 2.979 - 3.071 million VND/tael (buying - selling); down 40,000 VND/tael on the buying side and down 41,000 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 79.439 - 81.893 million VND/kg (buying - selling); down 1.067 million VND/kg on the buying side and down 1.093 million VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:50 am on April 21 (Vietnam time), the world silver price was listed at 79.29 USD/ounce; down 0.94 USD compared to yesterday morning.
Causes and forecasts
The silver market in the first trading session of the week recorded notable fluctuations as macroeconomic factors continued to put pressure on investor sentiment. Notably, the diễn biến of interest rates is still one of the key factors dominating the price trend of this precious metal.
According to precious metals analyst Christopher Lewis from FX Empire, the silver market is currently in a sensitive state, especially in the context of a sharp increase in 10-year US government bond yields. The main reason comes from geopolitical instability in the Middle East that has not shown signs of cooling down, causing cash flow to find shelter channels and pushing yields up.
Mr. Lewis believes that bond yields are an important indicator that investors need to closely monitor. If yields begin to cool down, this will be a positive signal supporting the recovery of silver prices. Conversely, the upward trend of yields may continue to put pressure on the precious metals market.
Regarding price prospects, this expert said that if the upward momentum is maintained, silver may head towards the 90 USD/ounce mark in the long term, although this process may take more time. In the opposite direction, if the price continues to decrease, the market may retreat to the 70 USD/ounce zone - a psychologically important support level.
Faced with strong volatility, Mr. Lewis especially emphasized the risk management factor. Investors are advised to limit the use of overly large positions, because silver is a market with high volatility, containing many unpredictable risks.
However, in the long term, the expert still maintains an optimistic view of silver's growth prospects. However, the possibility of realizing this trend will largely depend on the stability of the bond market as well as global geopolitical developments, especially information related to the Middle East region.
In the coming time, investors should continue to closely monitor macroeconomic factors and international news, because these will be factors that determine the next trend of the silver market" - Christopher Lewis gave his opinion.
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