Silver price fluctuations on March 28: Silver price breaks out

Domestic silver price

As of 13:20 on March 28, the price of 999 silver bars at Phu Quy Jewelry Group was listed at 1,310 - 1,351 million VND/tael (buy - sell); an increase of 25,000 VND/tael for buying and an increase of 26,000 VND/tael for 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 1,310 - 1,351 million VND/tael (buy - sell); an increase of 25,000 VND/tael for buying and an increase of 26,000 VND/tael for selling compared to early this morning.

World silver price

On the world market, as of 11:25 p.m. on March 28 (Vietnam time), the world silver price listed on Goldprice.org was at 34.4 USD/ounce; up 0.35% compared to the previous trading session.

Causes and predictions

According to FXStreet, the demand for silver as a safe haven remains high due to increased concerns over escalating trade tensions. The US is preparing to impose new tariffs next week, raising concerns about the impact on the global economy.

Currently, investors are waiting for data on the US personal consumption expenditure (PCE) index released today, to further assess the monetary policy orientation of the US Federal Reserve (FED). Last week, the FED kept interest rates unchanged but maintained its forecast of two interest rate cuts by the end of the year.

Speaking on Thursday, Boston Fed President Susan Collins said the Fed is facing a difficult decision, continuing to tighten or proactively loosen policy to cope with the risk of recession.

Meanwhile, Richmond Fed President Thomas Barkin warned that instability from Donald Trump's trade policies could make the Fed more cautious, prioritizing observation rather than acting as expected by the market.