Silver has its lowest drop in a month

Silver price today (November 8), the world silver market plummeted to the lowest level in 1 month due to pressure from the US Dollar.

Silver price today at Phu Quy Gold Investment Joint Stock Company, the listed silver price has been adjusted down sharply at 1,183,000 VND/tael (buy) and 1,220,000 VND/tael (sell) in Hanoi. In addition, according to a survey at other transaction locations in Hanoi, the silver price is currently listed at 979,000 VND/tael (buy) and 1,005,000 VND/tael (sell). In Ho Chi Minh City, the listed silver price is higher, at 980,000 VND/tael (buy) and 1,007,000 VND/tael (sell). The world silver price is at 793,000/ounce (buy) and 798,000/ounce (sell).

Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on November 8, 2024:

Silver type	Unit	Hanoi		Ho Chi Minh City
		Buy	Sell	Buy	Sell
Silver 99.9	1 amount	979,000	1,005,000	980,000	1,007,000
	1 kg	26,094,000	26,792,000	26,146,000	26,843,000
Silver 99.99	1 amount	982,000	1,009,000	984,000	1,011,000
	1 kg	26,190,000	26,904,000	26,242,000	26,955,000

Update the latest silver price list of Phu Quy Gold Investment Joint Stock Company on November 8, 2024:

Silver type	Unit/VND	Hanoi
		Buy	Sell
Silver bars, Phu Quy 999 silver bars	1 amount	1,183,000	1,220,000
Phu Quy 999 Silver Bar	1 kg	31,546,588	32,533,252

Latest update on world silver prices on November 8, 2024:

Unit	World silver price today (VND)
	Buy	Sell
1 Ounce	793,000	798,000
1 only	95,581	96,194
1 amount	956,000	962,000
1 kg	25,488,000	25,652,000

At the end of the trading day, for precious metals, silver and platinum prices both plummeted to their lowest levels due to the pressure of the US Dollar. Of which, silver prices fell 4.41% to $31.33/ounce, marking the biggest daily drop in a month.

The race for the White House between former Republican President Donald Trump and Democratic Vice President Kamala Harris has officially ended. Donald Trump has won. According to initial assessments from experts, Mr. Trump's presidency is expected to boost the US economy, but will increase inflation when his immigration, tax and trade policies are implemented. This could boost the USD and slow down the process of lowering interest rates by the US Federal Reserve (FED).

Accordingly, the USD also increased sharply in yesterday's session. The Dollar Index, a measure of the strength of the greenback and 6 other major currencies, increased by 1.6% to 105.1 points, the highest level in the past 4 months. The stronger USD increased investment costs, along with concerns about higher interest rates in the US, putting strong pressure on the price of precious metals since yesterday morning.

Source: https://congthuong.vn/gia-bac-hom-nay-8112024-bac-co-phien-gia-m-thap-nhat-trong-vo-ng-1-thang-357427.html