Silver prices remain steady at high levels, with Phu Quy Group’s silver bars trading at VND 1,489,000/tael (buying) and VND 1,535,000/tael (selling) in Hanoi. These prices are inching closer to the peak reached on July 23, when silver traded at VND 1,493,000 (buying) and VND 1,539,000 (selling)
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Over the past week, silver bar prices have surged by 2.5%, rewarding buyers with substantial gains of over 48% in the past year.
Meanwhile, the 1kg silver bar is priced at VND 39,706,567/bar (buying) and VND 40,933,231/bar (selling), as of 9:12 am on August 25.
Silver prices hover around the $39/ounce mark, approaching the 14-year high of $39.5 reached in late July, fueled by expectations of Fed rate cuts and industrial demand for silver.
The Fed’s shift in perception of a weaker labor market versus inflation has likely sealed the deal for a 25-basis point rate cut in the upcoming September decision. Traders have also increased bets on three rate cuts this year, bolstering non-yielding precious metals.
On the industrial front, new data reveals that solar panel exports from China surged by over 70% in the first half, driven by stronger demand for photovoltaics from India. This follows China’s installation of over 93 gigawatts of solar panels in May, a 300% year-on-year surge to a new record high before policy changes make it harder to connect panels to the power grid.
“Riding the Wave of Precious Metal Profits: Silver Buyers Reap 35% Gains Since the Start of the Year”
“Since the start of the year, domestic silver prices have surged over 35%, outpacing the gains of the VN-Index (approximately 30%) but still lagging behind the impressive surge in gold prices (nearly 49%).”
Silver Prices Surge Across the Board
Today, silver prices continue their upward trajectory in both domestic and international markets.
Silver Prices Surge Higher
Silver prices in the domestic market rebounded after a sharp decline in the previous session.
The Price of Silver Fluctuates After a Sharp Rise
The silver price witnessed a slight dip in the global and domestic markets today.
Silver Prices Surge, Outpacing Gold’s Rally
The global and domestic silver prices witnessed a significant surge today, with rates climbing to impressive heights.
