Silver prices dip at Ancarat Vietnam JSC, with buy and sell rates set at VND 1,493,000 and VND 1,531,000 per tael, respectively, in Hanoi.
Meanwhile, the price of 1kg 999 silver bars is listed at VND 38,724,000 (buy) and VND 39,714,000 (sell), as of 8:00 am on August 26th.
Globally, silver prices have reached USD 38.7 per ounce, equivalent to VND 1,019,000-1,024,000 per ounce (buy-sell).
Jerome Powell, Chair of the Federal Reserve, delivers a speech at the Jackson Hole conference, signaling a potential interest rate cut in the upcoming meeting. Powell assures that the Fed is prepared to ease monetary policy should the labor market weaken, without committing to a rate cut in September.
Analyst James Hyerczyk interprets futures contracts as indicating a 91% likelihood of the Fed lowering rates by 25 basis points next month. This follows a string of disappointing employment data, including jobless claims, which suggest the Fed may temporarily tolerate higher inflation to safeguard employment levels.
Market participants are now awaiting the July PCE report, core PCE index, and an upcoming speech by Fed Governor Christopher Waller for further insights into monetary policy direction. Hyerczyk predicts that silver prices could target the 14-year high of USD 39.53 per ounce and potentially extend gains towards USD 44.22 per ounce if this level is breached.
The Golden Rush: Gold Prices Soar to Record Highs, Flirting with the 127 Million Dong per Tael Mark
The SJC gold bar price has officially soared to a new peak of VND 125.9 – 126.9 million per tael. This unprecedented surge marks yet another pinnacle for the precious metal’s value.
The Stock Market Embraces a New Growth Cycle
The Vietnamese stock market is at a pivotal crossroads, where macro policy drivers, upgrade expectations, and international capital converge to shape a new era of quantitative and qualitative growth. While short-term challenges persist, the long-term outlook is clearer than ever, promising a transformative phase in the country’s economic landscape.
Silver Prices Surge, Approaching All-Time High
Today’s silver prices, both domestically and internationally, continue to soar, thanks to the Fed’s dovish statement.
“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%).”
What’s the Impact of Large-Scale Capital Injection on Economic Growth?
Hundreds of projects have just been launched with an investment capital of approximately VND 1,280 billion. This injection of funds into the economy is expected to boost economic growth in the coming years.
