Silver price today 12/25/2024: Price increased slightly

Overview of silver price today 12/25/2024

Today's silver price at Phu Quy Jewelry Group is listed at 1,103,000 VND/tael (buy) and 1,137,000 VND/tael (sell) in Hanoi . According to a survey at other transaction points in Hanoi, silver prices tend to increase slightly, currently fluctuating at 927,000 VND/tael (buy) and 968,000 VND/tael (sell). In Ho Chi Minh City, silver prices also recorded growth, at 928,000 VND/tael (buy) and 970,000 VND/tael (sell). In the international market, silver prices also increased slightly, currently at 755,000 VND/ounce (buy) and 760,000 VND/ounce (sell).

Update on silver price on December 25 in two major markets Hanoi and Ho Chi Minh City

Silver type	Unit	Hanoi		Ho Chi Minh City
		Buy	Sell	Buy	Sell
Silver 99.9	1 amount	927,000	968,000	928,000	970,000
	1 kg	24,708,000	25,806,000	24,760,000	25,857,000
Silver 99.99	1 amount	934,000	976,000	936,000	978,000
	1 kg	24,914,000	26,018,000	24,956,000	26,069,000

Update silver price list 12/25 of Phu Quy Gold Investment Joint Stock Company

Silver type	Unit/VND	Hanoi
		Buy	Sell
Silver bars, Phu Quy 999 silver bars	1 amount	1,103,000	1,137,000
Phu Quy 999 Silver Bar	1 kg	29,413,260	30,319,924

Update world silver price list on December 25, 2024

Unit	World silver price today (VND)
	Buy	Sell
1 Ounce	755,000	760,000
1 only	91,030	916.44
1 amount	910,000	916,000
1 kg	24,275,000	24,438,000

The recovery in silver prices after three sessions of sharp declines can be explained by a combination of supply and demand factors. Rising inflation concerns combined with a positive outlook for the US economy have contributed to the increase in silver prices. Specifically, in the context of escalating inflation, investors often seek precious metals such as silver and gold as a form of asset protection, because they are considered "safe havens".

Last week, the market focused on the results of the US Federal Reserve's interest rate meeting, announced on Thursday morning (December 19). The Fed's final decision was to reduce its forecast for interest rate cuts next year to just 50 basis points, equivalent to two 25 basis point cuts, with the target interest rate ranging from 3.75% to 4%. This adjustment is less than half the 100 basis points made at the September meeting, reflecting the Fed's cautiousness in its decisions.

In addition, the inflation forecast for 2025 was revised up to 2.5%, up from 2.1% previously and well above the Fed's 2% target. At the same time, US GDP figures were also revised up. The US Department of Commerce's Bureau of Economic Analysis announced that the country's third-quarter GDP increased by 3.1% compared to the previous quarter, up 0.3 percentage points from the initial figure.

Source: https://baodaknong.vn/gia-bac-hom-nay-25-12-2024-gia-tang-nhe-237887.html