Domestic silver prices
As of 10:10 am on March 31, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at the threshold of 2.709 - 2.776 million VND/tael (buying - selling); an increase of 81,000 VND/tael on the buying side and an increase of 83,000 VND/tael on the selling side compared to yesterday morning.
The price of silver ingots 2025 Ancarat 999 (1kg) at Ancarat Gem Company is listed at 71.356 - 73.526 million VND/kg (buying - selling); an increase of 1.86 million VND/kg on the buying side and an increase of 1.92 million VND/kg on the selling side compared to yesterday morning.
The price of Kim Phuc Loc 999 silver bars (1 tael) of Saigon Thuong Tin Commercial Joint Stock Company Limited (Sacombank-SBJ) is listed at the threshold of 2.736 - 2.832 million VND/tael (buying - selling); an increase of 123,000 VND/tael in both 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 2.699 - 2.782 million VND/tael (buying - selling); an increase of 74,000 VND/tael on the buying side and an increase of 76,000 VND/tael on the selling side compared to yesterday morning.
The price of 999 silver ingots (1kg) at Phu Quy Jewelry Group is listed at 71.973 - 74.186 million VND/kg (buying - selling); an increase of 1.974 million VND/kg on the buying side and an increase of 2.027 million VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 10:10 am on March 31 (Vietnam time), the world silver price was listed at 72.27 USD/ounce; an increase of 2.21 USD compared to yesterday morning.
Causes and forecasts
The silver market opened the first trading session of the week with a slight downward trend, but quickly reversed and signaled a recovery. This development shows that market sentiment is still volatile.
Currently, investors are closely monitoring the 70 USD/ounce threshold - an important price level both psychologically and technically. This is not only a "round number" with great influence, but also an area with many options contracts and has recorded active trading activity before.
According to precious metals analyst Christopher Lewis of FX Empire, interest rate factors, especially in the US, continue to play a key role in the trend of silver. "The diễn biến of 10-year US government bond yields is considered an important indicator: if yields fall, precious metals may be supported; conversely, the upward trend of yields will put pressure on silver prices," he said.
Although there are signs that the market is in the process of searching for a bottom, Christopher Lewis believes that there is still not enough basis to confirm that this trend has clearly formed. In that context, the market is assessed to be in a waiting and observing phase.
The expert recommends that investors should maintain the scale of positions at a reasonable level, in order to limit risks in the face of strong fluctuations that may occur in the near future.
In addition, geopolitical factors, especially conflict-related information, are strongly impacting the bond market and indirectly affecting silver prices. Rising interest rates along with concerns about energy shocks and inflation continue to put pressure on precious metals," said Christopher Lewis.
In the context of the market still having many fluctuations, Christopher Lewis believes that silver prices can still reverse if unexpected information appears. Therefore, investors should maintain a cautious mentality, prioritize reasonable capital management and avoid ordering with too large scale at the present time.
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