Domestic silver prices
As of 9:45 am on April 27, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at 2,840 - 2,910 million VND/tael (buying - selling); down 2,000 VND/tael in both directions compared to yesterday morning.
The price of silver ingots 2025 Ancarat 999 (1kg) at Ancarat Gem Company is listed at the threshold of 74.830 - 77.100 million VND/kg (buying - selling); down 44,000 VND/kg on the buying side and down 54,000 VND/kg on the selling side compared to yesterday morning.
The price of 999 silver (1 tael) of DOJI Jewelry Group Joint Stock Company is listed at the threshold of 2.848 - 2.956 million VND/tael (buying - selling); down 10,000 VND/tael on the buying side and down 11,000 VND/tael on the selling side compared to yesterday morning.
At the same time, the price of 999 silver bars (1 tael) at Phu Quy Jewelry Group was listed at the threshold of 2.858 - 2.946 million VND/tael (buying - selling); down 10,000 VND/tael on the buying side and down 11,000 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 76.213 - 78.559 million VND/kg (buying - selling); down 266,000 VND/kg on the buying side and down 294,000 VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:20 am on April 27 (Vietnam time), the world silver price was listed at 75.85 USD/ounce; up 0.32 USD compared to yesterday morning.
Causes and forecasts
According to the analysis of currency and precious metals expert Muhammad Umair at FX Empire, the silver market is undergoing a period of significant volatility as it is simultaneously affected by tight monetary policy, rising energy prices and improved liquidity conditions.
In the short term, the outlook for silver is assessed as still unstable. "The main reason comes from high inflationary pressure, which may cause the Federal Reserve (Fed) to delay interest rate cuts. This contributes to strengthening the USD and increasing real yields, thereby limiting silver's upward momentum in the short term" - Muhammad Umair said.
Muhammad Umair said that the market currently expects the Fed to keep interest rates unchanged in the upcoming meeting, while closely monitoring the Fed Chairman's statements to find signals about policy orientation.
If the message from the Fed is unclear, silver prices may continue to be under pressure. Conversely, in the event that inflation is assessed as uncontrollable, this precious metal may recover thanks to its role as a safe haven asset" - Muhammad Umair said.
Besides the monetary factor, the expert believes that geopolitical risks are also contributing to increasing volatility. Tensions in the Middle East have pushed fuel prices up. This raises concerns about prolonged inflation, thereby indirectly affecting the silver market.
However, from a long-term perspective, the outlook for silver is still positive. High inflation may boost demand for tangible assets like silver. At the same time, market signals such as relatively better performance than gold show that the long-term upward trend is still maintained" - Muhammad Umair said.
See more news related to silver prices HERE...
