Silver price today April 5: Sharp decrease

Silver price today at Phu Quy Gold and Gemstone Group, Phu Quy silver price decreased, listed at 1,224,000 VND/tael (buy) and 1,262,000 VND/tael (sell) in Hanoi.

In addition, according to a survey at other trading locations in Hanoi, domestic silver prices have dropped sharply in both buying and selling directions, currently listed at VND994,000/tael (buy) and VND1,024,000/tael (sell).

In Ho Chi Minh City, silver prices also decreased, currently at VND996,000/tael (buy) and VND1,030,000/tael (sell).

World silver prices have decreased, currently at VND 810,000/ounce (buy) and VND 816,000/ounce (sell).

Silver price today April 5: Sharp decrease

In the world market, the silver price listed on Goldprice.org is at 31.56 USD/ounce; down 6.41% compared to yesterday's trading session.

Silver prices fell sharply to a four-week low, according to Kitco. Silver futures for May 2025 fell $2.68, or 7.73%, to $31.97 an ounce.

Despite the risk-off sentiment in financial markets, gold and silver, traditionally considered safe-haven assets, have been under heavy selling pressure, largely due to profit-taking and the sell-off of long positions in the futures market, said Kitco analyst Jim Wyckoff.

"Concerns about global economic growth are rising, especially after the US announced a new round of tariffs on Wednesday afternoon," said expert Jim Wyckoff.

Silver futures speculators are losing their advantage in the short term, the expert said. On the daily chart, the three-month uptrend has been broken.

The next target for the bulls is to push silver prices above the key resistance level at $34.50/ounce. On the other hand, the bears are aiming to push prices below the strong support level at $31.365/ounce.

Silver's first resistance level is at $32.50/ounce, followed by $33.00/ounce. Meanwhile, the current key support levels are $31.85/ounce and $31.365/ounce.

Source: https://baodaknong.vn/gia-bac-hom-nay-5-4-giam-manh-248384.html