Silver prices remain elevated, according to data from Phu Quy Group, with silver 999 trading at 1,485,000 VND per tael for buyers and 1,531,000 VND per tael for sellers in Hanoi.
Over the past week, silver bar prices have surged by 3.3%, rewarding buyers with gains of over 41.3% in the past year.
Meanwhile, the 999 silver bar weighing 1kg is priced at 39,599,901 VND per bar for buyers and 40,826,565 VND per bar for sellers, as of 08:31 on August 28th.
Globally, silver prices inched higher to reach 38.74 USD per ounce.
Silver prices held above the $38.50 per ounce mark on Wednesday (August 27th), hovering near a one-month high as fresh concerns about the Federal Reserve’s independence fueled demand for safe-haven assets.
Earlier this week, President Donald Trump announced his intention to dismiss Fed Governor Lisa Cook over mortgage fraud allegations, even though Cook’s lawyer affirmed that she would take legal action to prevent her removal. Analysts suggest that Cook’s potential ousting could increase the likelihood of an earlier interest rate cut as Trump exerts greater influence over the central bank.
On the industrial front, silver demand is supported by robust data from China’s photovoltaic industry. Recent figures show that China’s solar panel exports surged by over 70% in the first half of the year, mainly driven by strong demand from India. This follows China’s installation of more than 93 gigawatts of solar capacity in May, a record high and a 300% increase from the previous year, ahead of policy changes that will make it more difficult to connect new panels to the grid.
Silver Prices Slip Slightly
Today, silver prices in the domestic and global markets witnessed a slight dip but remain firmly anchored at elevated levels.
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%).”
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.
