At the Phu Quy Gold and Gemstone Group, silver prices are on the rise again, quoted at VND 1,262,000/l Troy ounce (buying) and VND 1,301,000/l Troy ounce (selling) in Hanoi.
Meanwhile, the price of 999 fine silver bars is VND 33,653,249/kg (buying) and VND 34,693,247/kg (selling), as of 09:02 on May 8th.
As of the survey time at 09:05 today on May 8, 2025, world silver prices rebounded, quoted at VND 846,000 – VND 851,000 per ounce. Corresponding to the transaction value of USD 32.87 per ounce, up 1.28% compared to the previous session (May 7th).
After a sharp decline in the previous session, both gold and silver prices unexpectedly surged. The Fed maintains a cautious stance as it monitors the impact of changes in trade policies under the administration of President Donald Trump on the slowing economy.
Chairman Powell stated that it is too early to decide whether inflation or unemployment will be the greater concern, and the Fed can be patient and wait for more data before adjusting interest rates.
Silver, like other safe-haven assets, comes under pressure when improved risk sentiment weighs on demand. This decline was triggered by news that US and Chinese officials will meet in Switzerland this weekend to discuss trade, boosting optimism about potential tariff negotiations. Global market sentiment continues to be boosted by the People’s Bank of China’s decision to cut interest rates to support growth, reinforcing a risk-on mindset.
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The global markets are abuzz with activity as oil, gold, rubber, and coffee prices, along with US agricultural products, surge ahead of the highly anticipated US-China tariff talks scheduled for later this week.
The Financial Market’s Tumultuous Ride and the Fed’s Tightening Noose
Abnormal developments in the US bond market and trade tensions, along with fluctuations in gold prices, are exerting pressure on the Fed to cut interest rates sooner rather than later to support the economy.
The Golden Opportunity: “Sharks” SPDR Gold Trust Show No Signs of Cooling Off
“The surge in gold prices to $3,500 per ounce happened too fast, and the market needs to take a step back to digest this rapid ascent and its implications. This sharp rally has caught many off guard, and a period of consolidation or even a modest pullback would be healthy to ensure the sustainability of this upward trend.”
The VN-Index Surges Past 1,200 Points: Experts Predict a Market Rebound
The stock market is expected to continue its recovery trend next week, with key indices remaining above the 1,200-point mark. Bank stocks, consumer staples, and retail sectors are expected to be in focus, with potential for strong gains. As investors eye these sectors, the market sentiment is likely to remain positive, building on the recent momentum.
The Golden Rush: A Shocking Drop in Gold Prices Leaves PNJ Empty-Handed
PNJ, a leading jewelry company, announced an unprecedented shortage of SJC gold bars and plain gold rings across its entire network. In a surprising turn of events, the price of SJC gold bars took a dramatic dip on April 19th, leaving customers with a rare opportunity to seize.
