Domestic silver prices
As of 9:30 am on September 3, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at the threshold of 2.218 - 2.284 million VND/tael (buying - selling); an increase of 66,000 VND/tael on the buying side and an increase of 68,000 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 the threshold of 58.596 - 60.406 million VND/kg (buying - selling); an increase of 1.762 million VND/kg on the buying side and an increase of 1.812 million 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 2.272 - 2.372 million VND/tael (buying - selling); an increase of 70,000 VND/tael on the buying side and an increase of 73,000 VND/tael on the selling side 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 2.239 - 2.308 million VND/tael (buying - selling); an increase of 60,000 VND/tael on the buying side and an increase of 62,000 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 59.706 - 61.546 million VND/kg (buying - selling); an increase of 1.6 million VND/kg on the buying side and an increase of 1.653 million VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:30 am on September 3rd (Vietnam time), the world silver price was listed at 65.81 USD/ounce; an increase of 2.22 USD/ounce compared to yesterday morning.
Causes and forecasts
Spot gold and silver prices rose sharply after weaker-than-expected US private sector jobs data and a decrease in US Treasury bond yields supported the precious metals to recover from intraday lows.
According to experts at Kitco, the market is turning its attention to the upcoming US non-farm payroll report. However, the data that has been released partly reduces concerns about the possibility that the US Federal Reserve (Fed) will continue to maintain tight monetary policy.
After the figures were released, US Treasury bond yields fell. 2-year term bond yields fell to 4.383%, while 10-year term yields fell to 4.793%, after rising to 4.814% at one point.
Falling bond yields and weakening the USD often create favorable conditions for gold prices, as precious metals become more attractive to investors holding other currencies," said the analysis group at Kitco.
However, experts believe that the latest data is not weak enough to completely change expectations about the Fed's policy in September.
Although precious metal prices are recovering, the market still needs more clear signals from the US economy before determining the next trend.
The information in the article only reflects market developments, not investment recommendations. Investors need to carefully consider risk factors before making a decision.
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