Domestic silver prices
As of 10:10 am on September 4, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at the threshold of 2.233 - 2.300 million VND/tael (buying - selling); an increase of 15,000 VND/tael on the buying side and an increase of 16,000 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 59.004 - 60.834 million VND/kg (buying - selling); an increase of 408,000 VND/kg on the buying side and an increase of 428,000 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 2.305 - 2.405 million VND/tael (buying - selling); an increase of 33,000 VND/tael in both buying and selling 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 2,260 - 2,330 million VND/tael (buying - selling); an increase of 21,000 VND/tael on the buying side and an increase of 22,000 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 60.266 - 62.133 million VND/kg (buying - selling); an increase of 560,000 VND/kg on the buying side and an increase of 587,000 VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 10:10 am on September 4 (Vietnam time), the world silver price was listed at 66.7 USD/ounce; an increase of 0.89 USD/ounce compared to yesterday morning.
Causes and forecasts
Spot silver prices rose sharply after US Federal Reserve (Fed) Governor Christopher Waller signaled that he leaned towards the possibility of keeping interest rates unchanged in September.
This move caused the USD and US Treasury bond yields to decrease, thereby supporting the prices of precious metals, including silver.
According to precious metals analyst James Hyerczyk, in the short term, the price range from 67.25-68.17 USD/ounce is attracting the attention of analysts. This is the downward correction zone for silver after a decrease from 71.18 USD to 63.31 USD/ounce.
Whether silver prices can break through this zone will determine the next developments. If they exceed 68.17 USD/ounce, the upward momentum may be strengthened, heading towards the next targets at 72.08 USD/ounce and 72.67 USD/ounce" - he said.
Conversely, if the price cannot exceed 67.25 USD/ounce, this may indicate that buying pressure is not strong enough or selling pressure is returning. At that time, silver prices are likely to adjust down to the areas of 63.31 USD/ounce, 62.98 USD/ounce and 61.84 USD/ounce.
James Hyerczyk said that when bond yields fall and the USD weakens, precious metals often become more attractive to investors holding other currencies. This is one of the factors supporting silver price recovery.
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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