Domestic silver prices
As of 9:20 am on September 5, 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); keeping both buying and selling directions unchanged 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); keeping both buying and selling directions unchanged compared to yesterday morning.
The price of 999 silver (1 tael) of DOJI Jewelry Group Joint Stock Company is listed at the threshold of 2,287 - 2,387 million VND/tael (buying - selling); down 18,000 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 2.242 - 2.311 million VND/tael (buying - selling); down 18,000 VND/tael on the buying side and down 19,000 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 59.786 - 61.626 million VND/kg (buying - selling); down 480,000 VND/kg on the buying side and down 507,000 VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:20 am on September 5 (Vietnam time), the world silver price was listed at 66.09 USD/ounce; down 0.61 USD/ounce compared to yesterday morning.
Causes and forecasts
Silver prices fell sharply after the US released jobs data much better than forecast. Accordingly, the market previously expected the US to create about 55,000 jobs in the past month. However, actual figures reached 162,000 jobs, nearly 3 times higher than forecast.
Positive job data increases concerns that the US Federal Reserve (Fed) may maintain high interest rates for longer to control inflation. This is a factor putting pressure on silver prices, because high interest rates often make non-performing assets like silver less attractive.
However, more notable fluctuations may appear as the Asian market reopens and trading activities in the US gradually become active. At that time, investors will have more basis to assess the reaction of silver prices to the latest job information.
In general, high interest rates are still a disadvantageous factor for silver prices. Conversely, if the Fed signals interest rate cuts, the silver market may be supported.
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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