Domestic silver prices
As of 9:30 am on June 9, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at the threshold of 2.567 - 2.633 million VND/tael (buying - selling), an increase of 11,000 VND/tael in both buying and selling directions compared to yesterday morning.
The price of silver ingots 2025 Ancarat 999 (1kg) at Ancarat Gem Company is listed at 67.676 - 69.766 million VND/kg (buying - selling), an increase of 336,000 VND/kg on the buying side and an increase of 346,000 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 2.566 - 2.651 million VND/tael (buying - selling), an increase of 12,000 VND/tael on the buying side and an increase of 13,000 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 2.571 - 2.651 million VND/tael (buying - selling), an increase of 12,000 VND/tael on the buying side and an increase of 13,000 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 68.559 - 70.693 million VND/kg (buying - selling), an increase of 320,000 VND/kg on the buying side and an increase of 347,000 VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:30 am on June 9 (Vietnam time), the world silver price was listed at 67.78 USD/ounce, up 0.08 USD compared to yesterday morning.
Causes and forecasts
According to Mr. Christopher Lewis - precious metals analyst at FX Empire, silver prices are currently fluctuating around an important price threshold, in the context that investors are looking for signals to determine the market trend in the near future.
This expert believes that the silver market is still fluctuating strongly in the context that investors are closely monitoring interest rate prospects and geopolitical developments in the world. Although market sentiment has somewhat stabilized, silver prices have not yet shown clear breakthrough signals.
According to Mr. Lewis, the 70 USD/ounce mark is an important threshold to overcome to confirm a new upward trend. Currently, silver prices are trading in the area that received strong support at the end of March, so investors are still waiting for more signals from the market.
In the long term, Mr. Lewis maintains a positive view on silver. According to him, the global supply shortage may continue to be a price support factor in the coming time.
Silver demand still exceeds supply and this situation has lasted for many years. However, recently, the market has begun to pay more attention to the issue of supply-demand imbalance" - he assessed.
However, FX Empire experts also noted that silver prices may be under pressure if yields and interest rates in the US continue to rise. In this scenario, silver prices are likely to fall to the 60 USD/ounce range.
Conversely, if interest rates begin to cool down, this could be a driving force to help silver recover and move towards the target of exceeding the 70 USD/ounce mark. According to Mr. Lewis, the developments of US monetary policy will still be a major factor affecting the silver price trend in the coming time.
See more news related to silver prices HERE...
