Domestic silver prices
As of 9:00 am on July 25, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at the threshold of 2.160 - 2.215 million VND/tael (buying - selling); an increase of 27,000 VND/tael on the buying side and an increase of 27,000 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 56.806 - 58.566 million VND/kg (buying - selling); an increase of 700,000 VND/kg on the buying side and an increase of 720,000 VND/kg on the selling side compared to yesterday morning.
The price of 999 silver (1 tael) of DOJI Jewelry Group Joint Stock Company is listed at the threshold of 2.163 - 2.235 million VND/tael (buying - selling); an increase of 32,000 VND/tael on the buying side and an increase of 33,000 VND/tael 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 2.168 - 2.235 million VND/tael (buying - selling); an increase of 32,000 VND/tael on the buying side and an increase of 33,000 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 57.813 - 59.599 million VND/kg (buying - selling); an increase of 854,000 VND/kg on the buying side and an increase of 880,000 VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:00 am on July 25 (Vietnam time), the world silver price was listed at 58.06 USD/ounce; an increase of 0.76 USD/ounce compared to yesterday morning.
Causes and forecasts
Silver prices rebounded after a period of adjustment, but the market is still affected by geopolitical tensions, energy price fluctuations and expectations about US monetary policy.
In the context of safe-haven demand still existing, the strong USD and high US bond yields continue to put pressure, making the recovery momentum of silver not really sustainable.
Precious metals analyst Christopher Lewis said that silver prices had a week of strong fluctuations and once surpassed the 60 USD/ounce mark. However, this precious metal is still under great pressure as interest rates in the US remain high, making the upward momentum not really sustainable.
According to him, the 60 USD/ounce mark is still an important resistance level. If silver prices can hold on above this level, the market will send a more positive signal. Conversely, the continuous failure before the 60 USD/ounce mark shows that investor sentiment is still quite cautious in the face of interest rate prospects.
Christopher Lewis believes that the diễn biến of silver prices in the coming time will depend heavily on US monetary policy. When interest rates are high, the cost of holding non-performing assets such as silver becomes less attractive, thereby creating pressure on prices.
Technically, the expert noted that the 55 USD/ounce zone is playing an important support threshold. If silver prices fall below this level, the downward trend may expand to the 50 USD/ounce zone - a long-term support level that has repeatedly helped the market recover in the past.
According to Christopher Lewis, the silver market is still very sensitive to interest rate fluctuations and will continue to maintain a strong volatility in the near future. Investors need to closely monitor the policy developments of the US Federal Reserve (Fed) as well as the ability to maintain the 60 USD/ounce mark to assess the next trend of silver prices.
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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