Silver price fluctuations 8.3: Unstable, waiting for new signals

    |

    Silver price fluctuations 8.3: Silver prices have not changed much compared to the previous trading session. The market is waiting for new signals about monetary policy in the future.

    Domestic silver price

    As of 8:50 a.m. on March 8, the price of 999 silver bars at Phu Quy Jewelry Group was listed at 1.216 - 1.254 million VND/tael (buy - sell), unchanged in both buying and selling directions compared to the closing price of yesterday's trading session.

    Dien bien gia bac trong nuoc nhung phien gan day. Bieu do: Phuong Anh
    Domestic silver price developments in recent sessions. Chart: Phuong Anh

    At the same time, the price of 999 taels of silver at Phu Quy Jewelry Group was listed at 1.216 - 1.254 million VND/tael (buy - sell), unchanged in both buying and selling directions compared to the closing price of yesterday's trading session.

    World silver price

    On the world market, as of 8:52 a.m. on March 8 (Vietnam time), the world silver price listed on Goldprice.org was at 32.47 USD/ounce.

    Dien bien gia bac the gioi nhung phien gan day. Nguon: Goldprice.org
    World silver price developments in recent sessions. Source: Goldprice.org

    Causes and predictions

    According to Kitco, silver prices fluctuated slightly in the trading session on Friday morning in the US, after an important US economic report was released with lower results than expected. The May silver contract fell $0.293 to $23.045 an ounce.

    The February employment report released by the US Department of Labor shows that non-farm payrolls increased by 151,000, lower than the forecast of 170,000 according to a survey by Dow Jones Newswires. Compared to the adjusted figure for January of 125,000, the increase is still higher but not up to expectations. The unemployment rate was 4.1%, higher than the forecast of 4.0% and equivalent to the previous month.

    The silver market reacted slightly to this data, but the USD index continued to weaken, and US bond yields also decreased.

    Meanwhile, Asian and European stocks mostly fell overnight. However, US stocks are expected to increase slightly when opening a trading session in New York after falling to a multi-month low on Thursday.

    "Federation of Federal Reserve Chairman Jerome Powell will speak this afternoon at a currency conference in New York. This could affect market expectations for monetary policy in the coming time," said Kitco senior analyst Jim Wyckoff.

    According to the expert, if silver prices continue to increase, the next target is to surpass the 34.56 USD/ounce mark. However, if prices fall, the key support zone will be around 31,00 USD/ounce, which could create a lenient force to help prices recover.

    Important milestones to watch:

    Resistance zone: Prices may face resistance at 33.38 USD and 34.00 USD, if they overcome it, it will open up opportunities for further increase.

    Support zone: If it drops, silver could find a foothold around 32.395 USD and 32.00 USD.

    See more news related to silver prices HERE...

    RELATED NEWS

    Discussing 14 contents, many of which are related to the 14th Vietnam Trade Union Congress

    |

    Hanoi - In the afternoon of April 24, the Executive Committee of the Vietnam General Confederation of Labour organized a Conference to discuss 14 contents, many of which are related to the 14th Vietnam Trade Union Congress.

    People anxiously living next to the Son Duong - Tan Trao road project construction site. Photo: Viet Bac

    People live in hardship beside the hundred-billion road project in Tuyen Quang

    |

    Tuyen Quang - Many households located within the Son Duong - Tan Trao road project area that have not been relocated are facing dusty weather and muddy rain.

    PC1 is a giant in the hydropower industry facing stock sell-offs. Photo: An Trinh

    Stocks are heavily sold off, PC1's capitalization evaporates nearly 1,500 billion VND

    |

    Nearly 23 million PC1 shares were dumped on the floor in a context of no buyers, reflecting great selling pressure from investors.

    The budget for salary reform is 58,061,800 billion VND, accounting for 40.3% of the total expenditure transferred from 2024 to 2025. Photo: Pham Dong

    Salary reform: Transferring 58,061 billion VND from the state budget for implementation

    |

    The amount transferred from the state budget in 2024 to 2025 is 1,439.178 billion VND, of which the cost of implementing salary reform is 58,061 billion VND.

    Hundreds of office meals in damp houses, without food safety certificates

    Hundreds of office meals in rough, damp buildings, without food safety and hygiene certificates

    |

    Inside the roughly built house, which has not been granted a food safety certificate, an office kitchen is still busy preparing hundreds of meals to deliver to customers.

    Đồ họa: Phương Anh

    Silver price fluctuations 7.3: Experts predict positively

    Phương Anh |

    Silver price fluctuations 7.3: Silver prices in both domestic and international markets reversed and decreased. Experts predict that silver investors may still have the advantage in the short term.

    Đồ họa: Phương Anh

    Silver price fluctuations 6.3: Domestic silver continues to break out

    Phương Anh |

    Silver price fluctuations 6.3: Silver prices in both domestic and international markets continue to increase.

    Ngày 5.3, giá bạc trên cả thị trường trong nước và thế giới đều tăng. Đồ họa: Phương Anh

    Silver price fluctuations 5.3: Rising, many supporting factors

    Phương Anh |

    Silver price fluctuations 5.3: Silver prices in both domestic and international markets have increased, many factors continue to support price increases.