Silver price at the close of the session on July 27: Rising, regaining the threshold of 60 million VND/kg

Domestic silver prices

World silver price

As of 6:15 PM, world silver prices were listed at 59.11 USD/ounce, up 1.08 USD/ounce compared to the previous day.

Silver price forecast

The outlook for silver prices in the short term is leaning towards a positive trend, in the context of supporting factors for precious metals appearing simultaneously.

The upward momentum in the first trading session of the week shows that investor sentiment has improved as tensions between the US and Iran temporarily cooled down. The cessation of attacks by both sides helped oil prices fall, thereby easing inflation concerns and reducing pressure to maintain high interest rates for a long time.

Silver prices are often influenced by the USD, US bond yields and the monetary policy of the US Federal Reserve (Fed). The weakening USD and falling bond yields are making non-performing assets such as gold and silver more attractive. When silver prices are valued in USD, the depreciation of the greenback also makes this metal cheaper for buyers using other currencies, thereby supporting demand in the international market.

However, the increase in silver may not be really stable as the market is waiting for the Fed's policy meeting. A portion of investors still predict that the Fed is likely to raise interest rates, while expectations of a tightening move in September are also high.

If the Fed sends a tough signal, the USD and bond yields may recover, creating adjustment pressure on both gold and silver. Conversely, a more cautious view of raising interest rates will open up room for price increases for precious metals.

In addition to the Fed's decision, a series of important data such as consumer confidence, Q2 GDP, the consumer spending price index and the number of unemployment claims will directly affect interest rate expectations.

Because silver is both a safe-haven asset and widely used in industry, the volatility may be stronger than gold. In the short term, silver prices are likely to maintain an upward trend, but fluctuations and profit-taking may appear denser before new information from the Fed and the Middle East situation.