In the domestic market, silver prices recorded an upward trend in both buying and selling directions at many large trading systems. Specifically, Phu Quy Gold and Gemstone Group listed silver prices at VND1,313,000/tael (buy) and VND1,354,000/tael (sell) – an increase compared to the previous session.
In Hanoi and Ho Chi Minh City, 99.9 silver is currently priced between VND1,059,000 and VND1,094,000 per tael, depending on location. For 99.99 silver, the price is slightly higher by about VND7,000 per tael. The price of silver per kilogram also increased to nearly VND29.3 million per kilogram in Ho Chi Minh City.
In the world market, the silver price listed on Goldprice.org is at 34.26 USD/ounce, up 0.62% compared to yesterday. Converted according to the exchange rate, the world silver price is currently equivalent to about 875,000 VND/ounce (buy) and 880,000 VND/ounce (sell).
The rise in silver prices is explained by a series of macro factors. According to FXStreet, global investors are cautious ahead of the announcement of new tax policies by US President Donald Trump on April 2. In addition, the US dollar has weakened due to concerns about the negative impact of tax policies, making silver – a non-yielding asset – more attractive.
Additionally, the recently released US PCE core inflation data came in higher than expected (2.8% YoY and 0.4% MoM), reinforcing expectations that the US Federal Reserve (FED) will maintain its tight monetary policy for longer. Higher interest rates typically dampen the appeal of silver, but this pressure has been temporarily neutralized by the weaker USD.
In the short term, silver prices could continue to maintain their upward momentum if the US dollar weakens and interest rates do not rise more strongly than expected, while gold prices could test new resistance levels if the US economy continues to send out signs of instability.
Source: https://baodaknong.vn/gia-bac-hom-nay-1-4-tang-ca-trong-nuoc-va-the-gioi-247879.html
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