Silver price today April 23: Decline in domestic market

The price of 999 silver bars at Phu Quy Jewelry Group is listed at 1,253 - 1,292 million VND/tael (buy - sell); down 5,000 VND/tael in both buying and selling compared to early this morning.

At the same time, the price of 999 silver bars at Phu Quy Jewelry Group was listed at 1,253 - 1,292 million VND/tael (buy - sell); down 5,000 VND/tael in both buying and selling directions compared to early this morning.

The price of 999 silver bars (1 kilo) at Phu Quy Jewelry Group is listed at 33,413 - 34,453 million VND/kg (buy - sell); down 133,000 VND/kg in both buying and selling directions compared to early this morning.

In addition, according to a survey at other trading locations in Hanoi, domestic silver prices have decreased in both buying and selling directions, currently listed at VND 1,031,000/tael (buy) and VND 1,061,000/tael (sell).

In Ho Chi Minh City, silver prices also decreased, currently at 1,033,000 VND/tael (buy) and 1,067,000 VND/tael (sell).

In the world market, the silver price listed on Goldprice.org is at 32.61 USD/ounce. Currently, the silver price is fluctuating around 33 USD/ounce.

This is a price level that has been important many times before, according to analyst Christopher Lewis from FXEmpire.

"I think buyers need to be cautious when buying at this price level because this is an important resistance level. Traders should also continue to monitor the market closely. Besides, the US dollar is the main factor affecting the current silver price fluctuations," he said.

James Hyerczyk, a market analyst at FX Empire, agreed, saying that as the US dollar fell to a three-year low and gold prices surged above $3,397 an ounce, silver began to attract traders.

"The continued decline in the US dollar, the decline in confidence in the US Federal Reserve (FED) and global trade tensions are driving renewed interest in the precious metal," commented James Hyerczyk.

He also said that US President Donald Trump's new tariff policy has raised concerns about the possibility of recession and impacted industrial demand.

This has had a bigger impact on silver than gold, as silver is both a monetary metal and an industrial metal, according to a report from MarketWatch. However, industrial demand may have already been priced into silver prices.

"The demand for storing value could increase sharply in the coming time, especially when geopolitical instability drives capital flows into hard assets such as precious metals," said James Hyerczyk.

Source: https://baodaknong.vn/gia-bac-hom-nay-23-4-sut-giam-o-thi-truong-trong-nuoc-250297.html