Silver price today at Phu Quy Gold Investment Joint Stock Company, silver price is listed at 1,204,000 VND/tael (buy) and 1,241,000 VND/tael (sell) in Hanoi. In addition, according to a survey at other transaction locations in Hanoi, silver price is currently listed at 980,000 VND/tael (buy) and 1,025,000 VND/tael (sell). In Ho Chi Minh City, silver price is listed higher, at 982,000 VND/tael (buy) and 1,027,000 VND/tael (sell). World silver price is at 846,000/ounce (buy) and 851,000/ounce (sell).
Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on October 21, 2024:
Silver type | Unit | Hanoi | Ho Chi Minh City | ||
Buy | Sell | Buy | Sell | ||
Silver 99.9 | 1 amount | 980,000 | 1,025,000 | 982,000 | 1,027,000 |
| 1 kg | 26,135,000 | 27,333,000 | 26,187,000 | 27,384,000 | |
| Silver 99.99 | 1 amount | 984,000 | 1,029,000 | 986,000 | 1,031,000 |
| 1 kg | 26,231,000 | 27,445,000 | 26,283,000 | 27,496,000 | |
Update the latest silver price list of Phu Quy Gold Investment Joint Stock Company on October 21, 2024
Silver type | Unit/VND | Hanoi | |
Buy | Sell | ||
Silver bars, Phu Quy 999 silver bars | 1 amount | 1,204,000 | 1,241,000 |
| Phu Quy 999 Silver Bar | 1 kg | 30,373,257 | 31,306,588 |
Latest update on world silver prices on October 21, 2024
| Unit | World silver price today (VND) | |
Buy | Sell | |
| 1 Ounce | 846,000 | 851,000 |
| 1 only | 102,024 | 102,630 |
| 1 amount | 1,020,000 | 1,026,000 |
| 1 kg | 27,206,000 | 27,368,000 |
Over the past five years, silver has returned nearly 92%, far outpacing gold’s 80% gain. This highlights silver’s dual role as an industrial metal and a safe haven investment in times of uncertainty, signaling the possibility of continued price gains.
If silver maintains its current bullish momentum, hitting $50 would not only mark the end of the accumulation phase but also trigger a stronger rally for the metal. Trader Bob Loukas’ forecast suggests that silver’s rally is just getting started as momentum indicators still have room to run.
Silver prices have risen sharply after the US Federal Reserve cut interest rates, in anticipation of longer-term gains from looser monetary policy. Lower interest rates make non-yielding assets like silver more attractive, while geopolitical tensions, such as conflict in the Middle East, also boost demand for safe havens.
In addition, positive economic data from China, the world's largest consumer of metals, also boosted silver demand. The European Central Bank also cut interest rates for the third time this year to control inflation, adding to the positive impact on the market.
Industrial demand for silver is another important factor contributing to the price increase, especially in areas such as solar panels, electric vehicles, and renewable energy technology, which are expected to grow strongly in the coming years.
Source: https://congthuong.vn/gia-bac-hom-nay-21102024-bac-pha-vo-ky-luc-lieu-co-dot-tang-gia-tiep-theo-353603.html
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