Domestic silver price
As of 9:30 a.m. on April 3, the price of 999 silver bars at Phu Quy Jewelry Group was listed at VND1.301 - VND1.341 million/tael (buy - sell); an increase of VND8,000/tael for both buying and 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 1.301 - 1.341 million VND/tael (buy - sell); an increase of 8,000 VND/tael for both buying and selling compared to early this morning.
World silver price
On the world market, as of 9:35 a.m. on January 3 (Vietnam time), the world silver price listed on Goldprice.org was at 33.7 USD/ounce.
Causes and predictions
Silver prices increased slightly at the beginning of the trading session on Wednesday, but then decreased. According to Christopher Lewis at FXEmpire, the price of 33.33 USD/ounce is attracting the attention of many investors because this has been an important threshold many times in the past.
Meanwhile, US President Donald Trump has begun to announce new tax rates, which greatly affects the risky investment sentiment in the market.
Christopher Lewis emphasized: "Currently, investors need to be careful. However, if silver prices continue to fall, this could be a good opportunity to buy. The silver market is always risky and at this time it is no different".
The expert said that if silver prices fall below $33/ounce, the 50-day moving average will act as an important support level to watch out for.
Conversely, if prices overcome the strong resistance level of $35/ounce, silver could start a strong rally. "However, this possibility is uncertain. But in the long term, silver prices can still reach this level, because silver is one of the most volatile assets in the market," said Christopher Lewis.
See more news related to silver prices HERE...
