Silver reverses course and rises again.

Silver prices reversed course and rose again today (November 14) following the US Federal Reserve's (FED) earlier decision to lower interest rates.

Today's silver price at Phu Quy Gold Investment Joint Stock Company is listed at 1,137,000 VND/ounce (buying price) and 1,172,000 VND/ounce (selling price) in Hanoi. Additionally, according to surveys at other trading locations in Hanoi, the current silver price is listed at 964,000 VND/ounce (buying price) and 994,000 VND/ounce (selling price). In Ho Chi Minh City, the listed silver price is higher, at 966,000 VND/ounce (buying price) and 996,000 VND/ounce (selling price). The world silver price is currently at 783,000 VND/ounce (buying price) and 789,000 VND/ounce (selling price).

Here is the latest information on today's silver prices in the two largest markets , Hanoi and Ho Chi Minh City, on November 14, 2024:

Silver type	Unit	Hanoi		Ho Chi Minh City
		Buy	Sell	Buy	Sell
99.9% Silver	1 tael	964,000	994,000	966,000	996,000
	1 kg	25,702,000	26,500,000	25,754,000	26,551,000
99.99% Silver	1 tael	972,000	1,002,000	973,000	1,004,000
	1 kg	25,908,000	26,712,000	25,950,000	26,763,000

Updated silver price list from Phu Quy Gold Investment Joint Stock Company as of November 14, 2024:

Silver type	Unit/VND	Hanoi
		Buy	Sell
Phu Quy 999 Silver Bars and Ingots	1 tael	1,137,000	1,172,000
999 Gold Ingots	1 kg	30,319,924	31,253,255

Latest update on world silver prices as of November 14, 2024:

Unit	Today's world silver price (VND)
	Buy	Sell
1 Ounce	783,000	789,000
1 tael	94,462	95,073
1 tael	945,000	951,000
1 kg	25,190,000	25,353,000

At the close of trading, silver prices showed a slight upward trend after the previous day's decline. The strong US dollar continued to put pressure on the price of the precious metal in recent days. The Dollar Index, a measure of the strength of the US dollar and six other major currencies, closed up 0.52% at 105.54 points, its highest level in over four months. However, despite the continued rise in the US dollar exchange rate, the market remains optimistic about Donald Trump's victory in the White House race.

Furthermore, concerns about the possibility of the US Federal Reserve (FED) delaying its monetary easing cycle have also contributed to the rise in the USD exchange rate in recent sessions. Experts believe that Trump's tariff and trade policies could push inflation in the US higher. This could pose significant challenges for the FED as they have not yet fully won the battle to cool inflation. The CME FedWatch interest rate tracking tool shows that traders are currently betting on a 65% chance that the FED will cut interest rates by 25 basis points at the December meeting, down from the 80% probability before Trump's victory.

The Fed's decision to lower interest rates is seen as a move to stimulate the economy and support the market. Lowering interest rates reduces borrowing costs, thereby encouraging investors to pour money into riskier assets such as gold, silver, and platinum.

Source: https://congthuong.vn/gia-bac-hom-nay-14112024-bac-da-o-chie-u-tang-tro-lai-358550.html