Silver prices fell sharply in the first trading session of the week. Silver prices were listed at VND937,000/tael for buying and VND963,000/tael for selling in Hanoi. Silver prices in Ho Chi Minh City were listed higher at VND939,000/tael for buying and VND965,000/tael for selling. World silver prices are at VND779,000/ounce for buying and VND784,000/ounce for selling.
Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on October 15, 2024:
Silver type | Unit | Hanoi | Ho Chi Minh City | ||
Buy | Sell | Buy | Sell | ||
Silver 99.9 | 1 amount | 937,000 | 963,000 | 939,000 | 965,000 |
| 1 kg | 24,987,000 | 25,685,000 | 25,038,000 | 25,736,000 | |
| Silver 99.99 | 1 amount | 941,000 | 967,000 | 943,000 | 969,000 |
| 1 kg | 25,083,000 | 25,797,000 | 25,135,000 | 25,848,000 | |
Update the latest silver price list of Phu Quy Gold Investment Joint Stock Company on October 15, 2024
Silver type | Unit/VND | Hanoi | |
Buy | Sell | ||
Silver bars, Phu Quy 999 silver bars | 1 amount | 1,103,000 | 1,137,000 |
| Phu Quy 999 Silver Bar | 1 kg | 29,413,260 | 30,319,924 |
Latest update on world silver prices on October 15, 2024
| Unit | World silver price today (VND) | |
Buy | Sell | |
| 1 Ounce | 779,000 | 784,000 |
| 1 only | 93,898 | 94,497 |
| 1 amount | 939,000 | 945,000 |
| 1 kg | 25,039,000 | 25,199,000 |
At the end of the trading session, the metal market was deep in red, as both precious and base metals fell in price. Specifically, silver prices lost nearly 2%, ending the week at $31.75/ounce, ending a four-week streak of consecutive price increases. Similarly, platinum prices also plunged 0.73%, closing the weekend session at $994.4/ounce.
Precious metal prices have been under pressure this week as geopolitical tensions in the Middle East have cooled significantly, and tensions have not escalated as much as previously feared. This has reduced demand for safe haven assets such as gold, silver, and platinum.
In addition, expectations that the US Federal Reserve (FED) will continue to cut interest rates aggressively at its November meeting have also decreased, putting further pressure on precious metal prices. Specifically, after a series of recent positive economic data, especially the payroll report, investors no longer believe that the FED will cut interest rates by another 50 basis points, a strong reversal from previous forecasts. Moreover, some FED officials even warned that they may not cut interest rates after the September inflation report increased more than expected.
Source: https://congthuong.vn/gia-bac-hom-nay-15102024-bac-the-gioi-chi-m-trong-sac-do-352398.html
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