Domestic silver price
As of 9:20 a.m. on March 27, the price of 999 silver bars at Phu Quy Jewelry Group was listed at VND1,285 - 1,325 million/tael (buy - sell); an increase of VND5,000/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 1,285 - 1,325 million VND/tael (buy - sell); an increase of 5,000 VND/tael for both buying and selling compared to early this morning.
World silver price
On the world market, as of 9:25 a.m. on March 27 (Vietnam time), the world silver price listed on Goldprice.org was at 33.6 USD/ounce.
Causes and predictions
According to FXStreet, silver prices are holding steady on the upward trend, near the threshold of 33.80 USD/ounce. The metal shows solidity as investors show caution about US economic prospects.
Meanwhile, fears that President Donald Trump could impose tariffs on February 2 have caused many people to lose confidence in the economy. The Conference Board said on Tuesday that the Consumer Confidence Index - a reflection of people's confidence in economic prospects - fell to 92.9. This index is much lower than the 100.1 level in February.
As economic uncertainty increases, demand for safe-haven assets such as silver often increases, as the metal does not yield but is considered a safe haven.
In other financial markets, the USD index is trading steadily around a 3-week high of 104.50. The USD is expected to trade cautiously as investors worry that President Donald Trump's economic policies could cause recession and increase inflationary pressures in the US.
This week, an important factor for the USD is the US personal consumption expenditure (PCE) index data for February, due to be released on Friday. This inflation data will impact market expectations for monetary policy from the US Federal Reserve (FED). Meanwhile, silver prices have an inverted relationship with US interest rates.
See more news related to silver prices HERE...
