Domestic silver prices
As of 11:30 am on April 9, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at the threshold of 2.780 - 2.848 million VND/tael (buying - selling); down 81,000 VND/tael on the buying side and down 83,000 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 73.216 - 75.446 million VND/kg (buying - selling); down 2.154 million VND/kg on the buying side and down 2.214 million VND/kg on the selling side compared to yesterday morning.
The price of Kim Phuc Loc 999 silver bars (1 tael) of Saigon Thuong Tin Commercial Joint Stock Company Limited (Sacombank-SBJ) is listed at 2.793 - 2.877 million VND/tael (buying - selling); down 78,000 VND/tael in both 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 2.793 - 2.877 million VND/tael (buying - selling); down 75,000 VND/tael on the buying side and down 78,000 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 74.319 - 76.613 million VND/kg (buying - selling); down 2 million VND/kg on the buying side and down 2.08 million VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 11:30 AM on April 9 (Vietnam time), the world silver price was listed at 74.01 USD/ounce; down 2.21 USD compared to yesterday morning.
Causes and forecasts
Silver prices continue to react sensitively to interest rate movements after rising sharply at the beginning of Wednesday's trading session, after the announcement of a ceasefire agreement in the Middle East.
However, precious metals analyst Christopher Lewis of FX Empire, warned that silver is a market that should not be swept away by short-term trends, and prices will play a decisive role in the context of strong fluctuations.
Wednesday's trading session saw silver prices increase significantly, thanks to information about a ceasefire. Although this is good news for silver - a non-profit asset - high interest rates often create negative pressure, as the "cost of holding" this precious metal increases," he said.
Christopher Lewis said that the price threshold in the 70 USD/ounce range is considered an important floor, although it has been broken a few times. If the price rises above 80 USD/ounce, the market will open up opportunities to surpass the large accumulation zone, and the price increase may be pulled up to 90 USD/ounce.
The outlook is still optimistic, but caution and finding reasonable entry points are key factors to minimize risks in the volatile silver market" - Christopher Lewis gave his opinion.
See more news related to silver prices HERE...
