At Ancarat Vietnam Joint Stock Company, silver prices have risen today, listed at VND 1,852,000 per tael (buy) and VND 1,906,000 per tael (sell) in Hanoi. This marks an increase of VND 22,000 per tael for buying and VND 26,000 per tael for selling compared to the previous trading session earlier this morning.
Meanwhile, the 1kg 999 silver bar is priced at VND 48,626,000 per bar (buy) and VND 49,976,000 per bar (sell), updated at 9:06 AM on November 7th.
Globally, silver prices have climbed to $48.3 per ounce.
Silver held steady around $48.1 per ounce on Thursday (October 6th), stabilizing after recent gains as investors absorbed stronger-than-expected U.S. economic data. The ADP report revealed that private employers added 42,000 jobs in October, surpassing forecasts and underscoring the labor market’s resilience. Meanwhile, the ISM Services PMI rose to its highest level in eight months.
Signs of economic strength have bolstered expectations that the Federal Reserve will proceed cautiously with further rate cuts, although the ongoing U.S. government shutdown has delayed the release of key data. The market now prices a 62% chance of a 25 basis point rate cut in December, down sharply from over 90% before last week’s FOMC meeting.
Silver prices rebounded despite a slight uptick in the U.S. dollar and largely unchanged bond yields, with the 10-year yield holding at 4.083% and the 2-year yield at 3.572%. Analysts suggest that silver’s short-term upward trend remains supported by safe-haven demand and expectations of monetary policy easing from the Fed.
Silver Prices Surge After Hitting One-Month Low
Silver prices today have rebounded both domestically and internationally.
Black Market USD Exchange Rate Surges Over 8% Since Start of the Year, with October Alone Seeing a 4.7% Spike
According to MBS, the surge is attributed to the widening price gap between domestic and international gold, fueling increased demand for USD in the unofficial market.
Silver Prices Plummet to One-Month Low on November 5th, Leaving Peak Buyers Reeling
Domestic silver prices have plummeted for three consecutive days, mirroring a global sell-off that has left recent peak buyers anxious.
Silver Prices Hover at Critical Threshold
Today’s silver prices, both domestically and globally, remain stagnant, failing to achieve any significant breakthroughs.
Silver Price Stabilizes at 51 Million VND per Kilogram
Today’s silver prices in both domestic and international markets remain stable during the first trading session of the week.
