Closing the trading week, domestic and world silver prices simultaneously decreased sharply compared to the previous week.
The price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company is listed at the threshold of 2.242 - 2.299 million VND/tael (buying - selling); down 217,000 VND/tael on the buying side and down 223,000 VND/tael on the selling side compared to the previous week.
The price of silver ingots 2025 Ancarat 999 (1kg) at Ancarat Gem Company is listed at 58.986 - 60.806 million VND/kg (buying - selling); down 5.768 million VND/kg on the buying side and down 5.948 million VND/kg on the selling side compared to the previous week.
The price of 999 silver (1 tael) of DOJI Jewelry Group Joint Stock Company is listed at the threshold of 2,240 - 2,314 million VND/tael (buying - selling); down 214,000 VND/tael on the buying side and down 221,000 VND/tael on the selling side compared to the previous week.
At the same time, the price of 999 silver bars (1 tael) at Phu Quy Jewelry Group was listed at the threshold of 2.245 - 2.314 million VND/tael (buying - selling); down 214,000 VND/tael on the buying side and down 221,000 VND/tael on the selling side compared to the previous week.
The price of 999 silver ingots (1kg) at Phu Quy Jewelry Group is listed at 59.866 - 61.706 million VND/kg (buying - selling); down 5.707 million VND/kg on the buying side and down 5.893 million VND/kg on the selling side compared to the previous week.
On the world market, world silver prices are listed at 59.05 USD/ounce; down 5.77 USD/ounce compared to the previous week.
Talking to reporters, a group of market analysts from Ancarat Gem Company said that the silver market is facing two main scenarios.
According to the first scenario, if the recent decrease is only excessive adjustment (overshoot), silver prices may recover to the 65 - 75 USD/ounce range, thereby narrowing the gap with the previous mid-price level.
In the second scenario, if macroeconomic factors continue to be unfavorable, the 50 - 60 USD/ounce zone may become a new price level in the medium term" - the analysis group said.
Experts believe that in the short term, silver prices are likely to continue to fluctuate strongly in a wide range and have not yet formed a clear trend. Therefore, the appropriate strategy at the present time is to maintain flexibility, prioritize defense and risk control instead of expecting prices to soon return to a strong upward trend.
According to Ancarat's analysis group, with the same price of about 57 USD/ounce, long-term investors can see this as an opportunity for accumulation. Meanwhile, for short-term investors or silver businesses, this is still a price range that needs to be tightly managed for risks due to the very large fluctuation range.
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