Silver price closing session July 4: Maintains positive trend, buying power dominates

Domestic silver prices

Below is an update on silver prices on the website at some domestic silver trading units. Data recorded at 4:30 PM on July 4:

World silver price

As of 4:30 PM on July 4th (Vietnam time), the world silver price is listed at 62.27 USD/ounce.

Expert's opinion

Silver prices are maintaining a positive trend in the short term, after surpassing the 60 USD/ounce mark again and continuing to show better strength than gold. The fact that silver prices increased to the 62.27 USD/ounce range, at one point reaching 63.02 USD/ounce, shows that buying power is still dominant.

The main driver supporting the precious metals market comes from the weaker-than-expected US jobs report. These data put pressure on the USD, while partly reducing concerns about the possibility that the US Federal Reserve (Fed) will continue to tighten monetary policy in the near future. In the context of the weakening greenback, silver and precious metals are becoming more attractive to investors holding other currencies.

However, the outlook for silver is not entirely favorable. The yield of 10-year US government bonds is still fluctuating around 4.5%, showing that the opportunity cost of holding non-performing assets is still high.

In addition, the market has not yet completely eliminated the possibility that the Fed may raise interest rates further this year. This will be a factor that may cause silver prices to experience strong fluctuations after a period of rapid increase.

From a geopolitical perspective, the flow of goods through the Strait of Hormuz is gradually returning to normal, while oil prices are falling to near the pre-conflict zone. This helps reduce the risk of a new inflation shock from energy.

Therefore, the developments of silver in the short term are likely to depend mainly on the trend of the USD, US bond yields and Fed policy expectations, rather than safe-haven demand due to geopolitical tensions.

Regarding short-term prospects, maintaining above the 60 USD/ounce mark is an important signal for silver prices. If buying pressure continues to be maintained and the USD weakens further, silver prices may retest the nearest peak around 63 USD/ounce and expand the upward momentum.

Conversely, bond yields rebounding or expectations of a stronger Fed tightening may trigger profit-taking, causing silver prices to adjust after a sharp increase.