Silver prices dip at Ancarat Vietnam JSC, with buying and selling rates set at VND 1,469,000 and VND 1,507,000 per tael, respectively, in Hanoi.
Meanwhile, the price of 1kg 999 silver bars is listed at VND 38,084,000 (buying) and VND 39,074,000 (selling), as of 8:52 am on August 15th.
Senior analyst Christopher Lewis weighs in on the market’s future trajectory.
“The focus now is on whether the market has the momentum to sustain its rally,” says Christopher Lewis, senior analyst. “Silver is notoriously volatile, so it’s crucial to establish a clear long-term trend and assess investors’ tolerance for such fluctuations.”
“While the long-term outlook for silver remains positive, the market has recently experienced some turbulence. It’s important to note that the US dollar, which has a strong inverse correlation with silver, is currently undergoing significant fluctuations,” he adds.
Additionally, Lewis emphasizes that silver, being both a precious and industrial metal, is influenced by safe-haven investment demands and industrial production needs.
Silver Prices Surge, Outpacing Gold’s Rally
The global and domestic silver prices witnessed a significant surge today, with rates climbing to impressive heights.
Silver Prices Continue Their Steep Decline
The silver market is witnessing a downward trend, both domestically and globally.
Silver Prices Fluctuate Slightly on Monday
Today, silver prices witnessed a slight dip in both domestic and international markets.
Today’s Silver Price Extends Its Bullish Run
Today’s silver prices in both the domestic and international markets continue their upward trajectory as US economic data signals weakness, boosting investor confidence.
“Silver Prices Slip in Early Monday Trading; Investors Await Further US Economic Data and Dollar Reaction”
Silver prices dipped during the opening trading session of the week, both domestically and globally.
