Silver prices surge at Ancarat Vietnam JSC, reflecting global trends.
At Ancarat Vietnam JSC, silver prices continue their upward trajectory, reaching VND 2,390,000 per tael (buy) and VND 2,464,000 per tael (sell) in Hanoi. This marks a significant increase of VND 61,000 (buy) and VND 63,000 (sell) compared to yesterday morning’s session. Year-to-date, silver prices have soared by over 116%.
Meanwhile, 1kg silver bars of 999 purity are priced at VND 63,898,000 (buy) and VND 65,840,000 (sell), as of 9:31 AM on December 12th.
Globally, silver prices have surged to $63.9 per ounce, driven by market reactions to the Federal Reserve’s 25-basis-point rate cut and Chairman Powell’s statements.
Silver’s global price surge visualized.
Silver prices climbed above $61 per ounce, extending their record-breaking rally as markets digest the Federal Reserve’s 25-basis-point rate cut and Chairman Powell’s remarks.
According to FxStreet financial analyst Sagar Dua, silver’s outlook remains bullish as the U.S. Federal Reserve leaves the door open for further rate cuts following the recent 25-basis-point reduction.
“The Fed emphasized that future decisions will be data-dependent. While concerns linger about halting rate cuts due to persistent inflation, Chairman Jerome Powell affirmed that additional cuts, though challenging, remain a possibility,” he stated.
Dua highlights, “The Fed’s projections also indicate a potential for one more rate cut next year, which typically benefits assets like silver.”
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