Domestic silver price
As of 9:50 a.m. on August 21, the price of 999 silver bars at Phu Quy Jewelry Group was listed at VND1.452 - VND1.497 million/tael (buy - sell); an increase of VND19,000/tael for buying and an increase of VND20,000/tael for selling compared to yesterday morning.
The price of 999 gold bars at Phu Quy Jewelry Group was listed at 1.452 - 1.497 million VND/tael (buy - sell); an increase of 19,000 VND/tael for buying and an increase of 20,000 VND/tael for selling compared to yesterday morning.
The price of 999 taels of silver (1kg) at Phu Quy Jewelry Group was listed at 38,719 - 39,919 million VND/kg (buy - sell); an increase of 506,000 VND/kg for buying and an increase of 533,000 VND/kg for selling compared to yesterday morning.
World silver price
On the world market, as of 9:55 a.m. on August 21 (Vietnam time), the world silver price was listed at 37.9 USD/ounce; up 0.65 USD compared to yesterday morning.
Causes and predictions
Silver prices rose sharply in the middle of the week, recovering from a low of nearly 36.96 USD/ounce as investors bought to protect key technical thresholds.
Analyst James Hyerczyk said that this recovery has returned the market to the support level of 37.40 USD/ounce - reflecting gold's efforts - as both metals are affected by currency fluctuations and similar geopolitical situations.
He also said that many investors are still cautious at the moment.
"Traders are still cautious ahead of two important events: the minutes of the US Federal Reserve's July meeting and Chairman Jerome Powell's speech," said James Hyerczyk.
According to James Hyerczyk, the disagreement within the Fed and bond yields add to the market's instability. This could affect Powell's speech at Jackson Hole, especially if he hesitates to ease policy ahead of remaining inflationary pressures.
See more news related to silver prices HERE...
