Domestic silver price
As of 9:45 a.m. on July 25, the price of 999 silver bars at Phu Quy Jewelry Group was listed at 1.490 - 1.536 million VND/tael (buy - sell); down 2,000 VND/tael for both buying and selling compared to yesterday morning.
The price of 999 gold bars at Phu Quy Jewelry Group was listed at 1,490 - 1.536 million VND/tael (buy - sell); down 2,000 VND/tael for both buying and selling compared to yesterday morning.
At the same time, the price of 999 taels of silver (1kg) at Phu Quy Jewelry Group was listed at 39.733 - 40.959 million VND/kg (buy - sell); down 53,000 VND/kg for buying and down 54,000 VND/kg for selling compared to yesterday morning.
World silver price
On the world market, as of 9:45 a.m. on July 25 (Vietnam time), the world silver price was listed at 39.13 USD/ounce; up 0.06 USD compared to yesterday morning.
Causes and predictions
According to macro and market analyst Vishal Chaturvedi, silver prices are fluctuating due to improved global trade sentiment. This has fueled risk-off sentiment and reduced demand for traditional safe-haven assets such as precious metals.
"Trade prices are cautious as the US Dollar (USD) stabilizes widely and global stocks increase thanks to optimism surrounding a potential tariff deal between the US and the EU," the expert said.
Despite this tug-of-war, Vishal Chaturvedi remains optimistic about silver prices.
"Gold prices have remained at a nearly 14-year high, fluctuating around the level last recorded in September 2011, showing the strength of the current uptrend. The precious metal has gained nearly 2.36% this week, supported by the continued weakness of the US dollar before," Vishal Chaturvedi stressed.
Technically, Vishal Chaturvedi believes that silver is still in an uptrend, with resistance seen at 39.50 USD/ounce, followed by an important psychological resistance at 40.00 USD/ounce.
"A decisive breakthrough in this region could trigger a new rally towards 42.00 USD/ounce and potentially 43.00 USD/ounce in the coming sessions" - Vishal Chaturvedi assessed.
See more news related to silver prices HERE...
