Domestic silver prices
As of 9:25 am on April 25, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at the threshold of 2.842 - 2.912 million VND/tael (buying - selling); an increase of 11,000 VND/tael in both directions compared to yesterday morning.
The price of silver ingots 2025 Ancarat 999 (1kg) at Ancarat Gem Company is listed at the threshold of 74.874 - 77.154 million VND/kg (buying - selling); an increase of 284,000 VND/kg on the buying side and an increase of 294,000 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 2.823 - 2.913 million VND/tael (buying - selling).
At the same time, the price of 999 silver bars (1 tael) at Phu Quy Jewelry Group was listed at the threshold of 2.868 - 2.957 million VND/tael (buying - selling); an increase of 43,000 VND/tael on the buying side and an increase of 45,000 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 76.479 - 78.853 million VND/kg (buying - selling); an increase of 1.146 million VND/kg on the buying side and an increase of 1.2 million VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:20 am on April 25 (Vietnam time), the world silver price was listed at 75.53 USD/ounce; up 0.47 USD compared to yesterday morning.
Causes and forecasts
Spot silver prices recorded a recovery in the last trading session of the week, but this slight increase was not enough to compensate for the sharp decrease of 5.81% for the whole week. According to precious metals analyst James Hyerczyk of FX Empire, factors putting pressure on the silver market have not disappeared, causing short-term prospects to continue to face many challenges.
The main reason for the weakening of silver prices comes from the US Federal Reserve (Fed)'s stance of maintaining tight monetary policy. The strengthening USD along with high US government bond yields has significantly limited the attractiveness of silver - a non-performing asset.
Developments during the day show that the price level of 74.63 USD will play a key role in determining the closing trend. Currently, the market is in a state of lack of clear direction. Silver prices are supported around the threshold of 61.87 USD, but are continuously hindered at 78.61 USD" - James Hyerczyk said.
In the context of a lack of supporting information from the market, expert Hyerczyk believes that the "buy when prices fall" strategy is more reasonable, as it helps better control risks. He still maintains a long-term optimistic view, but warns that low trading volume is weakening the ability to break through and increase prices.
Another factor putting pressure on silver is high fuel prices, contributing to keeping inflation at a high level. This prevents the Fed from easing policy, thereby keeping the yield of 10-year US Treasury bonds around 4.31%.
In a high-yield environment, non-profit assets like silver become less attractive in the capital flow competition," James Hyerczyk said.
In addition, James Hyerczyk said that geopolitical developments have not yet created a clear boost for the market. Uncertainty makes investors maintain a cautious mentality, trading with low volume and causing prices to fluctuate sharply.
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