Domestic silver prices
As of 9:00 AM, the price of 2024 Ancarat 999 silver bars (1 tael) at Ancarat Gem Company is listed at the threshold of 2.216 - 2.282 million VND/tael (buying - selling); an increase of 5,000 VND/tael in both buying and selling directions compared to yesterday morning.
The price of silver ingots 2025 Ancarat 999 (1kg) at Ancarat Gem Company is listed at 58.544 - 60.354 million VND/kg (buying - selling); an increase of 314,000 VND/kg on the buying side and 134,000 VND/kg on the selling side compared to yesterday morning.
At the same time, the price of 999 silver (1 tael) of DOJI Jewelry Group Joint Stock Company was listed at 2,311 - 2,386 million VND/tael (buying - selling).
The price of 999 silver bars (1 tael) at Phu Quy Jewelry Group is listed at the threshold of 2.236 - 2.305 million VND/tael (buying - selling); an increase of 9,000 VND/tael in both buying and selling directions compared to yesterday morning.
The price of 999 silver ingots (1kg) at Phu Quy Jewelry Group is listed at 59.626 - 61.466 million VND/kg (buying - selling); an increase of 240,000 VND/kg in both buying and selling directions compared to yesterday morning.
World silver price
On the world market, as of 9:00 AM on September 21 (Vietnam time), the world silver price was listed at 66.53 USD/ounce, up 0.45 USD/ounce compared to yesterday morning.
Causes and forecasts
Gold and silver prices maintained their upward momentum last week as falling oil prices helped cool down inflation concerns, although US bond yields and stronger USD continued to put pressure on precious metals.
Falling oil prices help reduce concerns about short-term inflationary pressure, thereby creating more momentum for the precious metals market. However, the upward momentum of gold and silver is still limited as US Treasury bond yields and the USD increase.
The above developments show that the precious metals market is being negatively affected by factors related to energy prices and monetary policy. In which, the decrease in oil prices supports market sentiment as it eases inflationary pressure, while higher interest rate prospects put pressure on gold and silver.
Last week, the US Federal Reserve (Fed) raised the federal fund interest rate by 0.25 percentage points, to 3.75-4%.
This move continues to attract the attention of the precious metals market, as high interest rates often increase the opportunity cost of holding non-performing assets such as gold and silver.
The outlook for monetary policy is therefore still one of the factors that may affect the developments of gold and silver in the coming time. In addition, the fluctuations of the USD and US bond yields will also continue to be monitored by the market.
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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