Silver price today (November 17), world silver recorded continued decrease due to great pressure from the increase in USD price.
Silver price today at Phu Quy Gold Investment Joint Stock Company, silver price is listed at 1,134,000 VND/tael (buy) and 1,169,000 VND/tael (sell) in Hanoi. In addition, according to a survey at other transaction locations in Hanoi, silver price is currently listed at 943,000 VND/tael (buy) and 973,000 VND/tael (sell). In Ho Chi Minh City, silver price is listed higher, at 945,000 VND/tael (buy) and 975,000 VND/tael (sell). World silver price is at 768,000/ounce (buy) and 773,000/ounce (sell).
Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on November 17, 2024:
Silver type | Unit | Hanoi | Ho Chi Minh City | ||
Buy | Sell | Buy | Sell | ||
Silver 99.9 | 1 amount | 943,000 | 973,000 | 945,000 | 975,000 |
| 1 kg | 25,140,000 | 25,938,000 | 25,192,000 | 25,989,000 | |
| Silver 99.99 | 1 amount | 950,000 | 981,000 | 952,000 | 983,000 |
| 1 kg | 25,346,000 | 26,150,000 | 25,388,000 | 26,201,000 | |
Update the latest silver price list of Phu Quy Gold Investment Joint Stock Company on November 17, 2024:
Silver type | Unit/VND | Hanoi | |
Buy | Sell | ||
Silver bars, Phu Quy 999 silver bars | 1 amount | 1,134,000 | 1,169,000 |
| Phu Quy 999 Silver Bar | 1 kg | 30,239,924 | 31,173,255 |
Latest update on world silver prices on November 17, 2024:
| Unit | World silver price today (VND) | |
Buy | Sell | |
| 1 Ounce | 768,000 | 773,000 |
| 1 only | 92,592 | 93,204 |
| 1 amount | 926,000 | 932,000 |
| 1 kg | 24,691,000 | 24.85.4000 |
Silver markets continued to see declines today, with prices down 0.31% to $30.57 an ounce. This decline once again shows that the pressure from the USD is increasing.
One of the main reasons for the downward pressure on silver prices is the strengthening of the US dollar. The Dollar Index, which measures the strength of the greenback against other major currencies, continued to rise and hit a one-year high. A stronger US dollar makes assets priced in dollars, including silver, more expensive for holders of other currencies, thereby reducing demand for the precious metal.
In addition, factors such as rising interest rates and an uncertain global economic outlook also contributed to the decline in silver's appeal. When interest rates rise, investors tend to shift money to higher-yielding investment channels such as bonds, causing money to flow out of the precious metals market.
Source: https://congthuong.vn/gia-bac-hom-nay-17112024-bac-tiep-tuc-lao-doc-duoi-ap-luc-cu-a-dong-ng-usd-359192.html
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