Domestic silver prices
As of 10:20 am on June 29, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at the threshold of 2.227 - 2.284 million VND/tael (buying - selling); down 15,000 VND/tael in both buying and selling directions compared to yesterday morning.
The price of silver ingots 2025 Ancarat 999 (1kg) at Ancarat Gem Company is listed at 58.596 - 60.406 million VND/kg (buying - selling); down 390,000 VND/kg on the buying side and down 400,000 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 2.234 - 2.308 million VND/tael (buying - selling); down 6,000 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 2.232 - 2.301 million VND/tael (buying - selling); down 13,000 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 59.519 - 61.359 million VND/kg (buying - selling); down 347,000 VND/kg on the buying side and down 347,000 VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 10:20 am on June 29 (Vietnam time), the world silver price was listed at 58.98 USD/ounce; down 0.07 USD/ounce compared to yesterday morning.
Causes and forecasts
According to Mr. James Hyerczyk - precious metals analyst at FX Empire, the recovery of silver last weekend was not enough to change the general trend of the market.
Mr. Hyerczyk said that silver has experienced its fourth consecutive week of decline and is still in the long-term correction zone after plunging from the peak set at the beginning of 2026. The fluctuation range from 55.70 USD to 59.58 USD/ounce shows the very large volatility of the market.
Technically, the main trend of silver prices is still downward. Mr. Hyerczyk believes that if the price continues to break through the nearest bottom, the next target may be around 45.55 USD/ounce. Conversely, if it exceeds the 71.56 USD/ounce mark, the new long-term trend is likely to shift to upwards.
In the short term, the 60.83 USD/ounce zone is considered an important resistance level that buyers need to conquer. If this level is surpassed, silver prices may continue to recover to the 63.58 USD/ounce zone, then head towards long-term moving averages around 69.41 USD and 73.04 USD/ounce. Further, the strong resistance zone is in the range of 74.63 - 83.61 USD/ounce" - he analyzed.
According to Mr. Hyerczyk, the diễn biến of silver prices in the first sessions of next week will depend heavily on the market's reaction when approaching the 60.83 USD/ounce mark. The fact that the price has maintained the bottom of 55.60 USD/ounce for two consecutive sessions is considered a positive initial signal, but the market still needs more momentum to confirm the recovery trend.
Despite pressure from the Fed's monetary policy and fluctuations of the USD in the short term, the long-term outlook for silver is still supported by industrial demand. Experts say mining output is currently not keeping up with consumption demand from sectors such as solar panels, electronics, artificial intelligence and electric vehicles.
According to him, the imbalance between supply and demand in the physical market has not changed, and even tends to increase when prices decrease, making mining activities less efficient.
Mr. Hyerczyk said that in the near future, the US jobs report and new inflation figures will be decisive factors in whether expectations of the Fed continuing to raise interest rates will increase or cool down. As macroeconomic pressures subside, industrial demand will continue to be an important driving force dominating the silver price trend.
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