Silver has posted impressive gains

Silver price today (December 11), silver returned to a strong upward trend, surpassing the 32 USD/ounce mark, the highest level in more than a month.

Silver price today at Phu Quy Jewelry Group, silver price increased sharply at 1,173,000 VND/tael (buy) and 1,209,000 VND/tael (sell) in Hanoi. In addition, according to a survey at other transaction locations in Hanoi, silver price is currently listed at 977,000 VND/tael (buy) and 1,007,000 VND/tael (sell). In Ho Chi Minh City, silver price was also recorded at 979,000 VND/tael (buy) and 1,008,000 VND/tael (sell). World silver price increased slightly at 807,000/ounce (buy) and 812,000/ounce (sell).

Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on December 11, 2024:

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 the latest silver price list at Phu Quy Gold and Gemstone Group on December 11, 2024:

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

Latest update on world silver prices 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 recorded an impressive increase in today's trading session, surpassing the $32/ounce mark, the highest level in more than a month. This strong growth was driven by many factors, mainly from rising geopolitical tensions in the Middle East and improved market sentiment following the People's Bank of China's gold buying move again.

The escalating conflict in the Middle East has created an environment of uncertainty and prompted 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.

The People’s Bank of China’s decision to resume gold purchases after a six-month hiatus has sent a positive signal to the precious metals market. As the world’s largest gold importer last year, China’s move shows that demand for gold is still very strong and could spill over to other precious metals such as silver.

In addition, improved market sentiment also contributed to supporting silver prices. Investors are becoming more optimistic about the global economic outlook, especially after the release of several important economic indicators. This has created a positive atmosphere and boosted demand for risk assets, including precious metals.

In addition to the above factors, silver prices are also affected by many other factors such as interest rates, exchange rates, monetary policies of central banks and demand from industries.

Source: https://congthuong.vn/gia-bac-hom-nay-11122024-bac-da-ghi-nhan-muc-tang-an-tuong-363582.html