Overview of silver price today 12/11/2024
This morning, the silver price at Phu Quy Jewelry Group recorded strong growth, with the buying price at VND1,173,000/tael and the selling price at VND1,209,000/tael in Hanoi. This price reflects the upward trend of this precious metal in the current market context.
At other trading points in Hanoi, silver prices fluctuated at VND977,000/tael (buy) and VND1,007,000/tael (sell). In Ho Chi Minh City, silver prices were listed at VND979,000/tael (buy) and VND1,008,000/tael (sell).
Although domestic silver prices vary between regions, world silver prices only increased slightly, with the buying price at VND807,000/ounce and the selling price at VND812,000/ounce, showing a more stable trend in the international market.
Update on silver price on December 11 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 | 977,000 | 1,007,000 | 979,000 | 1,008,000 |
| 1 kg | 26,043,000 | 26,841,000 | 26,095,000 | 26,892,000 | |
| Silver 99.99 | 1 amount | 984,000 | 1,014,000 | 986,000 | 1,016,000 |
| 1 kg | 26,249,000 | 27,053,000 | 26,291,000 | 27,104,000 | |
Update silver price list 11/12 of Phu Quy Gold Investment Joint Stock Company
| Silver type | Unit/VND | Hanoi | |
| Buy | Sell | ||
| Silver bars, Phu Quy 999 silver bars | 1 amount | 1,173,000 | 1,209,000 |
| Phu Quy 999 Silver Bar | 1 kg | 31,279,922 | 32,239,919 |
Update world silver price list on December 11, 2024
| Unit | World silver price today (VND) | |
| Buy | Sell | |
| 1 Ounce | 807,000 | 812,000 |
| 1 only | 97,298 | 97,910 |
| 1 amount | 973,000 | 979,000 |
| 1 kg | 25,946,000 | 26,109,000 |
Silver prices saw a strong breakout in today’s trading session, surpassing $32/ounce – its highest level in more than a month. This impressive rally was driven by a series of factors, most notably the rising tensions in the Middle East and the recovery in market sentiment following the People’s Bank of China’s gold buying move.
The escalating conflict in the Middle East has created an environment of uncertainty, prompting investors to seek traditional safe havens such as gold and silver. Silver, as a hedge against risk, has attracted strong investment flows, pushing prices higher.
In particular, the People’s Bank of China’s decision to resume gold purchases after a long hiatus has sent a positive signal to the entire precious metals market. China, the world’s largest gold importer, is showing strong demand for the precious metal, which could lead to increased demand for silver, another precious metal.
In addition to geopolitical factors and China’s actions, market sentiment has also improved, thanks to recent positive economic indicators. This has boosted optimism about the global economic outlook, increasing demand for risk assets, including precious metals.
In addition to the main factors, silver prices are also influenced by a range of other macro factors, such as interest rate fluctuations, exchange rates, central banks' monetary policies and industrial demand for the metal.
Source: https://baodaknong.vn/gia-bac-hom-nay-11-12-tang-manh-me-vuot-moc-32-usd-ounce-236561.html
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