Domestic silver prices
As of 10:10 am on August 21, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at the threshold of 2.345 - 2.415 million VND/tael (buying - selling); an increase of 13,000 VND/tael on the buying side and an increase of 23,000 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 61,860 - 63,900 million VND/kg (buying - selling); an increase of 474,000 VND/kg on the buying side and an increase of 617,000 VND/kg on the selling side compared to yesterday morning.
The price of 999 silver (1 tael) of DOJI Jewelry Group Joint Stock Company is listed at the threshold of 2.352 - 2.445 million VND/tael (buying - selling); an increase of 10,000 VND/tael on the buying side and an increase of 25,000 VND/tael on the selling side compared to yesterday morning.
At the same time, the price of 999 silver bars (1 tael) at Phu Quy Jewelry Group was listed at 2,350 - 2,435 million VND/tael (buying - selling); an increase of 3,000 VND/tael on the buying side and an increase of 15,000 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 62.666 - 64.933 million VND/kg (buying - selling); an increase of 80,000 VND/kg on the buying side and an increase of 400,000 VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 10:10 am on August 21 (Vietnam time), the world silver price was listed at 68.87 USD/ounce; an increase of 1.75 USD/ounce compared to yesterday morning.
Causes and forecasts
Spot silver prices are trending more positively than gold as they approach the 69 USD/ounce mark, despite the recovery of 30-year US bond yields.
Previously, information that the US Treasury Department bought back bonds caused bond yields to fall and the USD to weaken on Wednesday. On Thursday, bond yields partially recovered, but silver prices still maintained their upward momentum.
According to precious metals analyst James Hyerczyk, silver is benefiting from two sources of demand at the same time. The first is investment demand, when silver is traded similarly to other precious metals and benefits when the USD and bond yields diễn biến thuận lợi. The second is industrial demand, from fields such as electronics, electric vehicles, solar energy and artificial intelligence data centers.
An important factor supporting silver prices is the prolonged supply shortage," he said.
According to experts, the silver market is forecast to enter its sixth consecutive year of supply shortage, with an estimated shortage of about 46.3 million ounces in 2026.
Besides the supply and demand factors, the diễn biến of short selling positions is also affecting silver prices.
However, experts believe that buying to close short selling positions cannot maintain an upward trend for a long time on their own. The upward momentum of silver is currently also supported by a shortage of supply and stable industrial demand.
Regarding technical analysis, James Hyerczyk believes that the fact that silver prices have surpassed the recent peak has strengthened the upward trend.
According to James Hyerczyk, supply shortages are creating a supporting foundation for silver prices, while the diễn biến of bond yields will continue to be an important factor determining the increase limit of this metal.
The information in the article only reflects market developments, not investment recommendations. Investors need to carefully consider risk factors before making a decision.
See more news related to silver prices HERE...
