Domestic silver prices
As of 9:15 am, the price of 999 silver (1 tael) of DOJI Jewelry Group Joint Stock Company was listed at the threshold of 2.211 - 2.290 million VND/tael (buying - selling); down 96,000 VND/tael on the buying side and 92,000 VND/tael on the selling side compared to yesterday morning.
The price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company is listed at the threshold of 2,160 - 2.225 million VND/tael (buying - selling); down 55,000 VND/tael on the buying side and 56,000 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 57.064 - 58.834 million VND/kg (buying - selling); down 1.452 million VND/kg on the buying side and 1.492 million VND/kg 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 the threshold of 2.186 - 2.254 million VND/tael (buying - selling); down 65,000 VND/tael on the buying side and 67,000 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 58.293 - 60.106 million VND/kg (buying - selling); down 1.733 million VND/kg on the buying side and 1.787 million VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:00 AM on September 24 (Vietnam time), the world silver price was listed at 63.82 USD/ounce, down 2.62 USD/ounce compared to yesterday morning.
Causes and forecasts
World silver prices fell sharply in the first trading session of the day in the US, amid rising USD and rising US Treasury bond yields.
The USD rose to its highest level in about two months as the market continued to assess the possibility of the US Federal Reserve (Fed) maintaining a tight monetary policy. Expectations for high interest rates put pressure on precious metals such as silver, which does not provide a fixed income.
In addition, the increase in US Treasury bond yields also reduces the attractiveness of silver in the eyes of investors. The developments of the USD and interest rate policy continue to be factors closely monitored by the silver market.
Spot gold prices also decreased, down around the threshold of 4,308.40 USD/ounce. The above developments show that downward pressure not only appeared in silver but also spread to the precious metals market in general.
Meanwhile, recent falling oil prices partially supported sentiment in financial markets. However, this factor is not enough to compensate for pressure from the strengthening USD and rising US bond yields.
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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