Silver prices dipped at Ancarat Vietnam JSC, listing at VND1,502,000 per tael (buying rate) and VND1,540,000 per tael (selling rate) in Hanoi, marking a VND9,000 increase in both buying and selling rates compared to the previous session.
Meanwhile, the 999 silver bullion bar of one kilogram was priced at VND38,964,000 per bar (buying rate) and VND39,954,000 per bar (selling rate), updated at 8:16 am on August 29.
In the global market, silver reached USD38.9 per ounce, equivalent to VND1,028,000-1,034,000 per ounce (buying and selling rates, respectively).
Silver surged above USD38.6 per ounce in the August 29 session, trading near a one-month high as the US dollar weakened amid mounting expectations of an interest rate cut by the Federal Reserve next month.
The market now assigns an 89% probability of a 25-basis-point cut in September, up from 82% a week earlier. This shift occurred as President Donald Trump sought greater influence over the central bank after attempting to remove Fed Governor Lisa Cook and replace her with a more moderate candidate.
On the industrial front, silver demand has been supported by robust photovoltaic data from China. Recent figures showed that China’s solar panel exports surged over 70% in the first half, led 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 solar panels to the grid.
“Silver Prices Hold Firm, Awaiting Interest Rate Policy”
Today, silver prices in the domestic and global markets witnessed a slight fluctuation while sustaining their upward trend.
The Fed Signals a Rate Cut: Stocks, Precious Metals, and Digital Assets Surge
The US stock market, digital assets, and precious metals surged following the Fed Chairman’s speech, which hinted at a potential rate cut in the near future.
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%).”
