Domestic silver price
As of 9:10 a.m. on April 28, the price of 999 silver bars at Phu Quy Jewelry Group was listed at VND 1.267 - 1.306 million/tael (buy - sell); down VND 11,000/tael for buying and down VND 12,000/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 1.267 - 1.306 million VND/tael (buy - sell); down 11,000 VND/tael for buying and down 12,000 VND/tael for selling compared to early this morning.
The price of 999 (1kilo) gold bars at Phu Quy Jewelry Group was listed at 33.786 - 34.826 million VND/kg (buy - sell); down 293,000 VND/kg for buying and down 320,000 VND/kg for selling compared to early this morning.
World silver price
On the world market, as of 9:15 a.m. on April 28 (Vietnam time), the world silver price listed on Goldprice.org was at 32.69 USD/ounce; down 0.37 USD compared to early this morning.
Causes and predictions
Muhammad Umair - financial expert at FX Empire - commented that silver prices are being greatly affected by market changes but are holding higher than gold.
"Confused information about US-China trade has caused market fluctuations," he said.
Meanwhile, gold prices have not returned to the $3,500/ounce zone. This decrease is due to the recovery of the USD and improved market sentiment thanks to the information that China may exempt some goods from tariffs. In addition, many investors taking profits before the weekend also put gold prices under further pressure.
In the long term, James Hyerczyk - market analyst at FX Empire - assessed that the attraction of silver will increase as the supply in the market is increasingly scarce.
"According to the latest forecast from the Silver Institute for 2025, silver will be short by about 117 million ounces - marking the fifth consecutive year of under-supply demand," he said.
According to James Hyerczyk, the prolonged supply shortage, especially due to large demand from green energy projects, will help silver prices receive solid support. It is expected that the amount of silver reserves will continue to decrease, creating a stable foundation for silver prices even when the market fluctuates.
See more news related to silver prices HERE...
