Silver Price Update in Vietnam
At Ancarat Vietnam Joint Stock Company, silver prices have decreased, with buying rates at 1,806,000 VND per tael and selling rates at 1,862,000 VND per tael in Hanoi. Over the past seven days, silver prices have dropped by more than 9%.
Meanwhile, the 1kg 999 fine silver bar is priced at 47,384,000 VND (buying) and 48,804,000 VND (selling) as of October 28th.
Globally, silver prices have fallen to $47 per ounce.
Global Silver Market Trends
Silver dipped to $46 per ounce on Monday (October 28th), extending losses from the previous week. This decline is attributed to progress in trade negotiations between the U.S. and China, reducing demand for safe-haven assets.
Markets are optimistic about a trade breakthrough during the meeting between President Donald Trump and President Xi Jinping on Thursday (October 30th). This follows productive talks between U.S. and Chinese trade representatives over the weekend, where they reached consensus on several key issues.
U.S. Treasury Secretary Scott Bessent stated that President Trump’s threat of 100% tariffs is “no longer on the table.” He added that Beijing has agreed to a one-year pause on plans to expand export controls on rare earth materials.
Meanwhile, the U.S. Federal Reserve is widely expected to cut interest rates this week, following weaker-than-expected inflation data released on Friday. Last week, silver fell by over 6% due to profit-taking activities, amid concerns of overvaluation after the metal’s record surge.
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