Silver price fluctuations 30.6: Reversal to increase again

    Phương Anh |

    Silver price fluctuations 30.6: Silver prices increased simultaneously in the domestic and world markets.

    Domestic silver price

    As of 10:55 on June 30, the price of 999 silver bars at Phu Quy Jewelry Group was listed at 1.394 - 1.437 million VND/tael (buy - sell); an increase of 5,000 VND/tael for both buying and selling compared to early this morning.

    The price of 999 gold bars at Phu Quy Jewelry Group was listed at 1.394 - 1.437 million VND/tael (buy - sell); increased by 5,000 VND/tael for both buying and selling compared to early this morning.

    Dien bien gia bac trong nuoc nhung phien gan day. Bieu do: Phuong Anh
    Domestic silver price developments in recent sessions. Chart: Phuong Anh

    At the same time, the price of 999 taels of silver (1kg) at Phu Quy Jewelry Group was listed at 37.173 - 38.319 million VND/kg (buy - sell); an increase of 134,000 VND/kg for buying and an increase of 133,000 VND/kg for selling compared to early this morning.

    World silver price

    On the world market, as of 10:58 a.m. on June 30 (Vietnam time), the world silver price was listed at 36.11 USD/ounce; up 0.16 USD compared to yesterday morning.

    Dien bien gia bac the gioi nhung phien gan day. Bieu do: Phuong Anh
    World silver price developments in recent sessions. Chart: Phuong Anh

    Causes and predictions

    In the first half of 2025, gold will take the spotlight when it surpasses the $3,500/ounce mark and sets a new peak. Meanwhile, silver is quietly accumulating the power to break out. In early June, silver prices surpassed $36 an ounce for the first time since 2011 - a common sign of a super price increase cycle.

    Phil Carr - Head of Trading at GSC Commodity Intelligence - commented: "Currently, inflationary pressures, industrial demand and geopolitical risks are rising at the same time, causing the market to focus on the important price level of 50 USD/ounce".

    According to experts at GSC Commodity Intelligence, silver is not only a safe haven asset, but also an essential raw material for green energy, electric vehicles, solar panels and AI data centers. It is this "possible" role that makes silver an investment channel with great potential.

    Compared to gold, silver is being held less, supply is scarce and its role in industry is increasingly important. " Any correction is an opportunity to accumulate more, as the long-term outlook for silver is brightest since 2011," GSC experts said.

    Economic data to watch this week:

    Tuesday: ISM Manufacturing PMI Index, JOLTS Employment Opportunities

    Wednesday: ADP non-farm payrolls change

    Thursday: US non-farm payroll, US weekly jobless claims, ISM Service PMI

    See more news related to silver prices HERE...

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    Ảnh: Phương Anh

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    Ảnh: Phương Anh

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    Phương Anh |

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    Ảnh: Việt Anh

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    Phương Anh |

    Silver price fluctuations on September 27: Due to many supporting factors, silver prices increased simultaneously in both domestic and international markets.