Domestic silver price
As of 9:10 a.m. on April 22, the price of 999 silver bars at Phu Quy Jewelry Group was listed at 1.253 - 1.292 million VND/tael (buy - sell); down 5,000 VND/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 5,000 VND/tael for both buying and selling compared to early this morning.
The price of 999 (1kilo) gold bars at Phu Quy Jewelry Group was listed at 33.413 - 34.453 million VND/kg (buy - sell); down 133,000 VND/kg in both buying and selling directions compared to early this morning.
World silver price
On the world market, as of 9:15 a.m. on April 22 (Vietnam time), the world silver price listed on Goldprice.org was at 32.61 USD/ounce.
Causes and predictions
Currently, silver prices are fluctuating around $33/ounce. According to Christopher Lewis from FXEmpire, this is a price that has been very important many times before.
"I think buyers need to be careful when buying at this price because this is an important resistance level. Traders should also continue to monitor the market closely. In addition, the US dollar is a major factor affecting current silver price fluctuations," he said.
Sharing the same view, James Hyerczyk - market analyst at FX Empire - said that when the USD fell to a 3-year low and gold prices increased sharply to over $3,397/ounce, silver began to attract the attention of traders.
"The continued decline in the US dollar, the decline in confidence in the US Federal Reserve (FED) and global trade tensions are fueling renewed interest in this precious metal," James Hyerczyk commented.
He also said that US President Donald Trump's new tariff policies have raised concerns about the possibility of recession and the impact on industrial demand.
This has affected silver more than gold, as silver is both a currency and an industrial metal, according to MarketWatch. However, industrial demand may have been priced in silver.
"The demand for value storage could increase sharply in the coming time, especially as geopolitical instability drives capital flows into hard assets such as precious metals," said James Hyerczyk.
See more news related to silver prices HERE...
