Domestic silver prices
As of 10:10 am on March 30, the price of Kim Phuc Loc 999 silver bars (1 tael) of Saigon Thuong Tin Commercial Joint Stock Bank Gold and Silver Company Limited (Sacombank-SBJ) was listed at the threshold of 2.613 - 2.709 million VND/tael (buying - selling).
At the same time, the price of 999 silver bars (1 tael) at Phu Quy Jewelry Group was listed at the threshold of 2.625 - 2.706 million VND/tael (buying - selling); an increase of 4,000 VND/tael in both directions compared to yesterday morning.
The price of 999 silver ingots (1kg) at Phu Quy Jewelry Group is listed at 69.999 - 72.159 million VND/kg (buying - selling); an increase of 106,000 VND/kg in both directions compared to yesterday morning.
World silver price
On the world market, as of 10:10 am on March 30 (Vietnam time), the world silver price was listed at 70.06 USD/ounce; down 0.34 USD compared to yesterday morning.
Causes and forecasts
The silver market is currently still affected by many unfavorable macroeconomic factors. Bond yields remain at high levels, the strengthening USD along with the tight monetary policy of the US Federal Reserve (Fed) are significantly limiting the upward momentum of silver in the short term.
According to the FedWatch tool, the market currently does not expect the Fed to cut interest rates in 2026. This reduces the attractiveness of gold and silver.
Geopolitical tensions, especially the US-Iran conflict lasting for the fourth week, continue to cast a shadow over the global financial market. Escalating energy prices lead to increased inflationary pressure globally, from transportation costs to fertilizer prices and production. In this context, gold and silver often benefit as safe havens.
However, according to currency and precious metals analyst Muhammad Umair at FX Empire, the difference of the current cycle is that high inflation forces central banks to maintain "hawkish" monetary policy, thereby unintentionally curbing the increase in gold and silver.
In addition, increased political instability contributes to making the market more volatile and promoting investors' defense needs.
Despite facing many short-term resistances, the long-term outlook for silver is still positively assessed. Historical models show that cash flow tends to shift to precious metals during economic downturns or risky asset markets.
In the context of volatile global stock markets and increasing risks, gold and silver may continue to play an important shelter channel" - Muhammad Umair said.
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