Silver price fluctuations on March 26: Domestic silver is on the rise

Domestic silver price

As of 9:30 a.m. on March 26, the price of 999 silver bars at Phu Quy Jewelry Group was listed at 1,280 - 1,320 million VND/tael (buy - sell); an increase of 18,000 VND/tael for buying and an increase of 19,000 VND/tael for selling compared to early this morning.

At the same time, the price of 999 taels of silver at Phu Quy Jewelry Group was listed at 1,280 - 1,320 million VND/tael (buy - sell); an increase of 18,000 VND/tael for buying and an increase of 19,000 VND/tael for selling compared to early this morning.

World silver price

On the world market, as of 9:35 a.m. on March 26 (Vietnam time), the world silver price listed on Goldprice.org was at 33.72 USD/ounce; an increase of 2.41% compared to the previous trading session.

Causes and predictions

Gold and silver prices are rising sharply, according to Kitco senior analyst Jim Wyckoff. Both precious metals continue to be sought as safe-haven assets in the context of uncertain markets - mainly due to US trade and foreign policies.

Technical charts also show a positive trend for gold and silver, which continues to attract buying from investors. Gold in April increased by 13.8 USD, to 3,029.4 USD/ounce. silver prices in May increased by 0.775 USD, to 34.22 USD/ounce.

In other financial markets, today, the USD index decreased. Nymex crude oil prices also decreased and are currently trading at around 68.75 USD/barrel. The yield on the 10-year US government bond is around 4.3%.

The expert assessed that silver futures speculators are having a short-term advantage. On the daily chart, silver prices have been in an un continuous uptrend for the past 3 months.

The next target for buyers is to push silver prices above the important resistance level at 35.8 USD/ounce - the highest peak in October 2024. On the contrary, the sellers are aiming to pull prices below the strong support level at 32.215 USD/ounce.

The first resistance level for silver prices was at 34.56 USD, followed by 35 USD. Meanwhile, the current important support levels are 33.43 USD/ounce and 33.165 USD/ounce.