Silver Prices Retrace Following Sharp Rally

Today's silver prices witnessed a slight decline both domestically and globally.

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At Ancarat Vietnam JSC, silver prices have decreased today, listed at VND 2,016,000 per tael (buy) and VND 2,079,000 per tael (sell) in Hanoi. Over the past week, silver prices have surged by nearly 10%.

Meanwhile, 1kg 999 fine silver bars are priced at VND 53,010,000 per bar (buy) and VND 54,590,000 per bar (sell), updated at 9:08 AM on November 14th.

Globally, silver is trading at $53 per ounce.

During the session on November 13th, silver prices rose by over 1% to above $54 per ounce, approaching the all-time high reached last month. This brings the weekly gain to approximately 12%, as investors seek to hedge against global uncertainties through precious metals.

Expectations of a Federal Reserve rate cut, following signs of a weakening U.S. labor market, have continued to support the metal. Supply concerns also play a role, with India’s wedding season underway and fears of potential U.S. tariffs on silver.

Precious metals expert James Hyerczyk (FX Empire) notes, “Technical signals, monetary policy, and USD movements are creating an ideal environment for silver to maintain its upward trend.”

Last week, the U.S. Department of the Interior added silver, copper, and metallurgical coal to the list of “critical minerals,” highlighting their importance to the economy and national security. This designation paves the way for Section 232 investigations and potential trade restrictions, similar to those applied to copper earlier this year.

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