Silver prices at the end of the week recorded that domestic and world silver prices reversed to increase after the previous decline.
Domestic market
At Phu Quy Gold and Gemstone Group, silver prices were stable, listed at VND1,182,000/tael (buy) and VND1,219,000/tael (sell) in Hanoi.
In addition, according to a survey at other trading locations in Hanoi, silver prices turned to increase after the previous decrease, currently listed at VND 1,014,000/tael (buy) and VND 1,044,000/tael (sell).
In Ho Chi Minh City, silver prices are also on the rise, currently at VND1,016,000/tael (buy) and VND1,050,000/tael (sell).
World market
World silver prices are stable, currently at 796,000 VND/ounce (buy) and 801,000 VND/ounce (sell).
At the end of the trading session, domestic silver prices increased slightly after the previous session's decline. Silver prices are affected by macro factors such as inflation, interest rate policies and geopolitical tensions. Although short-term fluctuations may appear, many experts still believe in the long-term prospects of this precious metal as demand increasingly exceeds supply.
Forecasts from TD Securities continue to show a positive outlook for silver in the coming time. Specifically, the price of this metal is expected to remain around $33.25/ounce in Q1/2025, then decrease slightly to $33/ounce in Q2 and recover to $34/ounce in Q3 to peak at $36/ounce in Q4/2025 - equivalent to an increase of about 9% compared to the current level. Looking further into 2026, silver could continue its upward trend, aiming for the threshold of $38-39/ounce.
The main driver behind silver prices is rising industrial demand. In addition to being considered a safe haven asset, silver also plays a key role in the renewable energy industry, especially in the production of solar panels. As countries accelerate their transition to clean energy, demand for the metal is expected to continue to boom, supporting silver prices in the long term.
Source: https://baodaknong.vn/gia-bac-hom-nay-2-3-dao-chieu-tang-nhanh-244346.html
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