Domestic silver price
As of 10:15 on August 26, the price of 999 999 coins (1 tael) at Ancarat Golden Rooster Company was listed at VND1.474 - 1.509 million/tael (buy - sell).
The price of 999 Ancarat 999 (1kg) at Ancarat Metallurgy Company is listed at 38,670 - 39,660 million VND/kg (buy - sell).
The price of 2024 Ancarat 999 (1kg) silver bars at Ancarat Metallurgy Company was listed at 39,306 - 40,240 million VND/kg (buy - sell).
At the same time, the price of 999 coins (1 tael) at Phu Quy Jewelry Group was listed at VND1.484 - 1.530 million/tael (buy - sell); down VND5,000/tael in both directions compared to yesterday morning.
The price of 999 gold bars (1 tael) at Phu Quy Jewelry Group was listed at VND1.484 - 1.530 million/tael (buy - sell); down VND5,000/tael in both directions compared to yesterday morning.
The price of 999 taels of silver (1kg) at Phu Quy Jewelry Group was listed at 39.573 - 40.799 million VND/kg (buy - sell); down 133,000 VND/kg for buying and down 134,000 VND/kg for selling compared to yesterday morning.
World silver price
On the world market, as of 10:15 on August 26 (Vietnam time), the world silver price was listed at 38.69 USD/ounce; down 0.16 USD compared to yesterday morning.
Causes and predictions
Silver prices fell slightly at first as the US dollar (USD) increased slightly. According to senior analyst Christopher Lewis, silver often has a counter- correlation with the USD, so this development is not too surprising.
"However, in general, silver has gone through a period of strong price increases. As long as there is no sign of the opposite, the current price reductions can still be considered an opportunity to buy" - he said.
Technically, Christopher Lewis believes that the price range of 37.50 USD/ounce plays an important role, once being resistance and then becoming support. Therefore, there is a high possibility of short-term buying power as prices approach this mark.
"For long-term investors, most have been participating since the beginning of April, so they have little reason to withdraw at the present time. On the other hand, the $39 threshold is a short-term barrier, but the $40 threshold is the important threshold. If it breaks through this mark, silver prices could enter a very strong uptrend," the expert analyzed.
However, according to Christopher Lewis, this is a typically quiet period of the year, while the global economic outlook remains uncertain. He noted that silver is both a safe haven asset and an industrial metal, so the market always has strong potential fluctuations. This makes buying when prices are adjusted attractive but also requires caution.
See more news related to silver prices HERE...
