Silver price at the close of the session on August 24: Simultaneously increasing, world silver surpasses 69 USD/ounce

Domestic silver prices

World silver price

As of 6:50 PM, world silver prices increased by 0.24% to 69.02 USD/ounce.

Silver price forecast

Silver price prospects are still positively assessed in the context of a weaker USD and an increasing trend in demand for safe-haven assets. The stabilization or further decrease in US bond yields may continue to create support for precious metals, including silver.

One of the important factors dominating the silver price trend in the coming time is the diễn biến of the USD. The US Treasury Department's plan to buy back bonds is putting pressure on the greenback, thereby helping USD-valued assets become more attractive to investors holding other currencies. If the USD continues to weaken, silver prices may have more upward momentum.

However, the market is still closely monitoring US economic data, especially the Personal Consumption Price Index (PCE) and new signals from the US Federal Reserve (FED) on interest rate orientation. In the event that positive economic data causes the FED to maintain a tight monetary policy for longer, the USD may recover, putting pressure on silver prices.

Technically, spot silver prices need to overcome the 72 USD/ounce zone to maintain the upward momentum and move towards higher price zones. If they overcome the 90 USD/ounce mark, the long-term upward trend of silver may be strengthened and open up the possibility of approaching historical peaks.

Besides monetary factors, oil price movements and geopolitical situation are also factors that need to be observed. Sharp oil price increases can affect inflation expectations, and also affect the fluctuation of the USD and cash flow into assets such as gold and silver.

In the short term, silver prices are expected to continue to benefit from a weak USD environment and risk hedging needs, but still face uncertainties from US interest rate policy and global economic outlook.