Silver price today April 22: Slightly increase following world trend

World silver price

According to the latest record, the spot silver price on the international market is listed at 32.70 USD/ounce (buy) and 32.90 USD/ounce (sell), slightly up from the average level of the previous session.

Earlier in the morning session, silver prices briefly adjusted to $32.66/ounce due to short-term profit-taking pressure, but quickly recovered when technical buying pressure appeared in Asia. This development shows that silver still retains a certain appeal as a safe haven asset, especially in the context of global economic instability.

However, compared to gold, silver is still lagging behind as the gold/silver ratio is currently around 86-90, indicating that investors still prioritize gold in their defensive strategies. However, according to experts, silver has the potential to recover in the medium term thanks to strong demand in the electronics, electric cars and solar power industries - areas where global investment is increasing.

Domestic silver price

In the domestic market, silver prices recorded a slight increase at many precious metal trading units. Phu Quy Gold and Gemstone Group currently lists the price of 999 silver bars at VND1,261,000/tael (buy) and VND1,300,000/tael (sell).

At free trading points in Ho Chi Minh City and Hanoi , silver prices today fluctuated around VND1,040,000 - 1,080,000/tael, down slightly from the end of last week but recovering from the bottom at the beginning of the month. The price difference compared to the converted world silver price is about VND150,000 - 200,000/tael, reflecting the cost of localization and the need to keep physical silver in the country.

According to some silver businesses in Ho Chi Minh City, the number of retail customers buying silver jewelry and silver bars remains stable. However, investment sentiment in silver is still cautious, due to the influence of the strong gold price increase and the expectation that the Fed may postpone its interest rate cut plan.

Silver Market Outlook

Silver remains a precious metal with potential for recovery in the medium term, thanks to sustained industrial demand. According to the latest report from Metals Focus, global silver demand in the electrical and electronics sector will continue to increase slightly this year, partly offsetting concerns about an economic slowdown.

In addition, with the USD showing signs of cooling down and US interest rates expected to fall from the end of the second quarter, silver prices may receive better support in the coming time. However, to bounce strongly from the current price range, silver needs more geopolitical surprises or sudden changes in monetary policy of major economies.

Source: https://baodaknong.vn/gia-bac-hom-nay-22-4-nhich-nhe-theo-da-the-gioi-250187.html