As of the morning of September 18th, the price of 999 fine silver (1 tael) at Phu Quy Jewelry Corporation was listed at VND 1,595 million per tael (buy) and VND 1,644 million per tael (sell). Compared to the trading session on the morning of September 17th, silver prices dropped by VND 43,000 and VND 45,000 per tael, respectively.
After reaching a peak of over VND 45 million per kg, the price of 1 kg silver bars has also decreased to VND 43.84 million per kg in today’s morning session.
In the international market, silver was trading at USD 41.7 per ounce this morning, down nearly USD 1 per ounce from its peak of around USD 42.6 per ounce.
The U.S. Federal Reserve cut interest rates by 25 basis points, lowering the benchmark rate to 4-4.25% in its first move of the year, and signaled two more rate cuts this year.
Central banks in China and Canada are expected to ease policies this week, while those in Japan and the United Kingdom may hold steady.
These developments reinforce the view that silver prices could see significant volatility in the short term. Silver is unique as both a safe-haven asset and an industrial material. Fundamentally, silver tends to follow gold prices during economic uncertainty, as investors seek “safe-haven” assets. However, silver is also a critical component in solar panel production and high-tech devices. Therefore, silver prices are influenced by both factors.
Silver Bar Prices Surge Past 45 Million VND/kg, Setting New Record Highs
Domestic silver bar prices have surged to unprecedented highs, driven by significant global economic data.
Silver Prices Retreat After Hitting Fresh Highs
Today, silver prices in the domestic and global markets have taken a downturn, reversing the previous session’s strong gains.
Silver Prices Adjust After Hitting Peak
Today, silver prices in the domestic and global markets experienced slight fluctuations but remained firmly anchored at elevated levels.
Silver Prices Soar to New Heights, Outpacing Gold’s Rally
Today, silver prices continue their upward trajectory both domestically and globally.
No More Waiting to Buy Gold, Now It’s Silver’s Turn
Amid the relentless surge in global gold and silver prices, domestic prices of these precious metals have also skyrocketed to unprecedented levels. In a notable development, following the frenzy of gold buyers queuing up, a similar scene is now unfolding with long lines of people eagerly waiting to purchase silver.
