Silver prices continue their upward trajectory, reaching new heights.
According to data from Phu Quy Gemstone and Gold Group, silver prices today surged to new records, with 999 silver quoted at VND 1,536,000/tael (buying) and VND 1,584,000/tael (selling) in Hanoi. This marks an impressive near 47% gain for buyers over the past year.
Meanwhile, 999 silver bars of 1kg are priced at VND 40,959,898/bar (buying) and VND 42,239,894/bar (selling), as of 09:05, September 1st.
Globally, silver prices soared to $40.25/ounce, spurred by traders’ bets on Fed rate cuts and considerations of robust industrial demand.
Silver prices surge past $40 per ounce, the highest since September 2011.
US data revealed that core PCE inflation rose 2.9% year-over-year in July, the fastest pace since February, while consumer spending increased the most in four months, signaling a potential rebound. These figures maintain expectations for a September rate cut, with Fed Governor Waller advocating for a 25-basis-point reduction and further easing in the coming months. Despite persistent inflation, markets still predict two cuts this year.
On the industrial front, silver demand is driven by China’s solar energy boom, with solar panel exports surging over 70% in the first half, led by strong demand from India.
Silver Prices Surge Today
Today, silver prices soar in both domestic and international markets.
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“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.
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.
