Domestic silver prices
As of 9:05 am on March 25, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at the threshold of 2.772 - 2.840 million VND/tael (buying - selling); an increase of 245,000 VND/tael on the buying side and an increase of 251,000 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 73.014 - 75.234 million VND/kg (buying - selling); an increase of 6.494 million VND/kg on the buying side and an increase of 6.694 million VND/kg on the selling side compared to yesterday morning.
The price of Kim Phuc Loc 999 silver bars (1 tael) of Saigon Thuong Tin Commercial Joint Stock Company Limited (Sacombank-SBJ) is listed at 2.832 - 2.928 million VND/tael (buying - selling); an increase of 210,000 VND/tael in both directions 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 2.770 - 2.856 million VND/tael (buying - selling); an increase of 243,000 VND/tael on the buying side and an increase of 251,000 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 73.866 - 76.159 million VND/kg (buying - selling); an increase of 6.48 million VND/kg on the buying side and an increase of 6.693 million VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:20 am on March 25 (Vietnam time), the world silver price was listed at 73.24 USD/ounce; up 5.82 USD compared to yesterday morning.
Causes and forecasts
Silver prices recovered strongly in Wednesday's trading session after a series of deep declines.
However, according to precious metals analyst Christopher Lewis of FX Empire, the silver market is continuing to record strong fluctuations in the context of the tense situation in the Middle East showing no signs of cooling down, raising concerns about a decline in risk-taking sentiment in the global financial market.
Besides geopolitical factors, the trend of rising interest rates in the US is still putting significant pressure on silver prices. As interest rates rise, the USD usually strengthens, making silver - which is valued in USD - less attractive. At the same time, the cost of holding and storing silver also increases, causing many investors to consider switching to other profit channels, especially bonds, which are providing attractive yields," he said.
According to Christopher Lewis' assessment, the silver market is still in a state of high volatility and is trying to regain its previous stability. However, this recovery trend is said to depend heavily on the level of improvement in the geopolitical situation, especially when war tensions show signs of cooling down.
In the short term, if risk factors are controlled, silver prices may receive momentum to increase again. Conversely, if prices fall below the lowest level of the first trading session of the week, the market may face a deeper decline in the near future" - Christopher Lewis gave his opinion.
See more news related to silver prices HERE...
