Domestic silver price
As of 10:15 on September 9, the price of 999 999 coins (1 tael) at Ancarat Golden Rooster Company was listed at 1.579 - 1.615 million VND/tael (buy - sell).
The price of 999 999 Ancarat silver bars (1kg) at Ancarat Metallurgy Company is listed at 41.506 - 42.486 million VND/kg (buy - sell).
The price of 2024 Ancarat 999 (1kg) silver bars at Ancarat Metallurgy Company was listed at 42.106 - 43.066 million VND/kg (buy - sell).
At the same time, the price of 999 999 coins (1 tael) at Phu Quy Jewelry Group was listed at 1.586 - 1.635 million VND/tael (buy - sell); an increase of 23,000 VND/tael for buying and an increase of 24,000 VND/tael for selling compared to yesterday morning.
The price of 999 gold bars (1 tael) at Phu Quy Jewelry Group was listed at 1.586 - 1.635 million VND/tael (buy - sell); an increase of 23,000 VND/tael for buying and an increase of 24,000 VND/tael for selling compared to yesterday morning.
The price of 999 (1kg) gold bars at Phu Quy Jewelry Group was listed at 42.293 - 43.599 million VND/kg (buy - sell); an increase of 614,000 VND/kg for buying and an increase of 640,000 VND/kg for selling compared to yesterday morning.
World silver price
On the world market, as of 10:15 on September 9 (Vietnam time), the world silver price was listed at 41.39 USD/ounce; up 0.69 USD compared to yesterday morning.
Causes and predictions
The silver market is showing signs of a positive return, with a clear uptrend. According to senior analyst Christopher Lewis, at this point, the market is still like a "buy when the price drops".
The expert said that in the first session of the week, silver prices had some slight adjustments due to less active transactions in Asia and Europe. But when the US market opened, prices quickly recovered.
"Currently, silver is approaching the peak of a long-term price channel, so there may be some selling pressure. However, with central banks, especially the US Federal Reserve (FED), tending to cut interest rates, the prospect of silver price increase is still quite clear," said Christopher Lewis.
He commented that with its highly volatile characteristics, silver is not an easy market to buy. The safe choice is to wait for the adjustments to participate.
"The current $42/ounce price may need more accumulation time, before the market establishes a clearer trend" - Christopher Lewis expressed his opinion.
See more news related to silver prices HERE...
