Domestic silver prices
As of 9:15 am on May 27, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at 2.902 - 2.976 million VND/tael (buying - selling), an increase of 4,000 VND/tael in both buying and selling directions compared to yesterday morning.
The price of 2025 Ancarat 999 (1kg) silver ingots at Ancarat Gem Company is listed at 76,490 - 78,860 million VND/kg (buying - selling), an increase of 96,000 VND/kg on the buying side and an increase of 106,000 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 2,900 - 3,005 million VND/tael (buying - selling), an increase of 3,000 VND/tael in both buying and selling 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 the threshold of 2.905 - 2.995 million VND/tael (buying - selling), an increase of 3,000 VND/tael in both buying and selling directions compared to yesterday morning.
The price of 999 silver ingots (1kg) at Phu Quy Jewelry Group is listed at 77.466 - 79.866 million VND/kg (buying - selling), an increase of 80,000 VND/kg in both buying and selling directions compared to yesterday morning.
World silver price
On the world market, as of 9:15 am on May 27 (Vietnam time), the world silver price was listed at 76.87 USD/ounce; an increase of 0.2 USD compared to yesterday morning.
Causes and forecasts
Silver prices continued to fluctuate strongly in the trading session on Wednesday, as information from the Middle East made investor sentiment cautious and difficult to determine clear trading trends.
According to Mr. Christopher Lewis - precious metals expert of FX Empire, the silver market currently contains many risks, so investors need to pay special attention to the size of positions to limit the risk of losses in the context of unpredictable price fluctuations.
Analyzing market developments, Mr. Christopher Lewis said that silver prices are currently mainly fluctuating in the range of 70 - 90 USD/ounce and are difficult to create a strong upward or downward trend in the short term. Downward corrections are seen as short-term buying opportunities, instead of signals for a long-term upward trend.
He also assessed that the 70 USD/ounce mark is considered an important support zone that can help the price remain stable.
In the opposite direction, the 80 USD/ounce level continues to play a resistance role for the market. If it surpasses this price range, silver may head towards the 90 USD/ounce mark, although this process is forecast to take more time.
According to Christopher Lewis, the silver market is currently still in a sideways state with continuous alternating ups and downs. This trend has lasted from February to now, while the fluctuation range is increasingly narrowing. "Although the market is in a relatively neutral state, there is still a potential risk of strong fluctuations in the near future" - Christopher Lewis said.
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