Domestic silver prices
As of 9:10 am on March 27, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at the threshold of 2.585 - 2.649 million VND/tael (buying - selling); down 98,000 VND/tael on the buying side and down 100,000 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 68,070 - 70,140 million VND/kg (buying - selling); down 2.586 million VND/kg on the buying side and down 2.666 million VND/kg on the selling side compared to yesterday morning.
The price of Kim Phuc Loc 999 silver bars (1 tael) of Saigon Thuong Tin Commercial Joint Stock Company Limited (Sacombank-SBJ) is listed at the threshold of 2.646 - 2.742 million VND/tael (buying - selling); down 90,000 VND/tael in both directions compared to yesterday morning.
At the same time, the price of 999 silver bars (1 tael) at Phu Quy Jewelry Group was listed at 2,590 - 2,670 million VND/tael (buying - selling); down 9,000 VND/tael on the buying side and down 93,000 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 69.066 - 71.199 million VND/kg (buying - selling); down 2.453 million VND/kg on the buying side and down 2.534 million VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:10 am on March 27 (Vietnam time), the world silver price was listed at 68.8 USD/ounce; down 2.7 USD compared to yesterday morning.
Causes and forecasts
The silver market continues its weakening trend in the context of high interest rates in the US and Europe, causing cash flow to shift away from safe-haven assets such as gold and silver.
According to precious metals analyst Christopher Lewis of FX Empire, silver prices fell as bond yields - especially 10-year US government bonds - increased. "This is a key factor putting pressure on precious metals. As yields increase, investors tend to shift capital to bonds to enjoy stable profits, instead of holding silver or gold - assets that do not generate cash flow," he said.
Even in short-term recovery phases, experts recommend investors to maintain caution. In fact, selling pressure has appeared since the end of Wednesday's trading session when the market saw that interest rates showed no signs of cooling down - a factor considered the biggest barrier to silver today.
In that context, the popular strategy in the market is to take advantage of rising waves to sell instead of buying in the long term. This makes silver prices expected to continue to fluctuate strongly, more suitable for short-term transactions that require high flexibility," he said.
Although not making too solid a forecast, Christopher Lewis believes that the silver outlook is still challenging, especially when geopolitical factors are not stable. He believes that only when global tensions cool down will the silver market have a clearer chance of recovery.
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