Domestic silver price
As of 10:50 on April 26, the price of 999 silver bars at Phu Quy Jewelry Group was listed at VND1.278 - 1.318 million/tael (buy - sell); down VND11,000/tael for both buying and 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 1.278 - 1.318 million VND/tael (buy - sell); down 11,000 VND/tael for both buying and selling compared to early this morning.
The price of 999 (1kilo) gold bars at Phu Quy Jewelry Group was listed at VND34.079 - 35.146 million/kg (buy - sell); down VND294,000/kg for buying and down VND293,000/kg for selling compared to early this morning.
World silver price
On the world market, as of 10:22 a.m. on April 26 (Vietnam time), the world silver price listed on Goldprice.org was at 33.06 USD/ounce; down 0.39 USD compared to yesterday's trading session.
Causes and predictions
According to FX Empire, silver prices fell sharply due to improved US-China trade sentiment and stronger economic data prompting investors to gradually withdraw from safe-haven assets.
US macro data released on Thursday showed that the number of weekly jobless claims reached 222,00, reflecting a recovery in the labor market. Sustainable goods orders in March surged 9.2% as transportation equipment increased by 27% for the third consecutive year easily exceeding the 2% forecast. This has boosted the US dollar, adding pressure on precious metals such as gold and silver.
However, Jim Wyckoff - senior analyst at Kitco - commented: "Golden exchange speculators may still have a technical advantage in the short term".
According to the expert, the next target for buyers is to push silver prices above the important resistance level at 35.00 USD/ounce. On the contrary, the sellers are aiming to pull prices below the solid support level at 32.00 USD/ounce.
The first resistance level for silver prices was at 33.69 USD/ounce, followed by 34.00 USD/ounce. Meanwhile, the current important support levels are 33.00 USD/ounce and 32.50 USD/ounce.
See more news related to silver prices HERE...
