Domestic silver price
As of 11:15 a.m. on April 27, the price of 999 silver bars at Phu Quy Jewelry Group was listed at VND1.278 - 1.318 million/tael (buy - sell); unchanged in both buying and selling directions 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); unchanged in both buying and selling directions 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); unchanged in both buying and selling directions compared to early this morning.
World silver price
On the world market, as of 11:16 a.m. on April 27 (Vietnam time), the world silver price listed on Goldprice.org was at 33.06 USD/ounce; unchanged from early this morning.
Causes and predictions
According to FX Empire, after a recent strong increase, silver prices are showing signs of slowing down. Traders are closely monitoring key technical thresholds to see if prices reverse in the short term.
Meanwhile, China is considering exempting tariffs on some important imports from the US, raising hopes of cooling down the trade war.
"This news makes investors switch to buying risk assets, no longer interested in safe assets such as silver. In the long term, if the economy is stable, silver will still be used a lot in industry.
Currently, the demand for silver as a safe haven has decreased, causing silver prices to fall," said James Hyerczyk, market analyst at FX Empire.
In other financial markets, the USD Index increased slightly by 0.3% last week, creating additional downward pressure on silver. As the US dollar strengthens, US dollar-denominated goods such as silver will become more expensive for foreign buyers, reducing demand.
"optimism about US-China trade and positive US economic data help the USD hold steady, which limits the ability of silver to increase in price" - James Hyerczyk assessed.
See more news related to silver prices HERE...
