Silver reverses upward trend

Silver prices today (November 14) turned to increase again after the US Federal Reserve's (FED) decision to lower interest rates earlier.

Silver price today at Phu Quy Gold Investment Joint Stock Company, silver price is listed at 1,137,000 VND/tael (buy) and 1,172,000 VND/tael (sell) in Hanoi. In addition, according to a survey at other transaction locations in Hanoi, silver price is currently listed at 964,000 VND/tael (buy) and 994,000 VND/tael (sell). In Ho Chi Minh City, silver price is listed higher, at 966,000 VND/tael (buy) and 996,000 VND/tael (sell). World silver price is at 783,000/ounce (buy) and 789,000/ounce (sell).

Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on November 14, 2024:

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

Update the latest silver price list of Phu Quy Gold Investment Joint Stock Company on November 14, 2024:

Silver type	Unit/VND	Hanoi
		Buy	Sell
Silver bars, Phu Quy 999 silver bars	1 amount	1,137,000	1,172,000
Phu Quy 999 Silver Bar	1 kg	30,319,924	31,253,255

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

Unit	World silver price today (VND)
	Buy	Sell
1 Ounce	783,000	789,000
1 only	94,462	95,073
1 amount	945,000	951,000
1 kg	25,190,000	25,353,000

At the end of the trading session, silver prices tended to increase slightly after the previous session's decline. The strong increase in the USD continued to be a factor that put pressure on the price of precious metals in recent days. The Dollar Index, a measure of the strength of the USD and 6 other strong foreign currencies, closed up 0.52% to 105.54 points, the highest level in more than 4 months. However, the USD exchange rate continued to increase but the market was still optimistic about Donald Trump's victory in the race to the White House.

In addition, concerns about the possibility of the US Federal Reserve (FED) delaying its monetary easing cycle have also been a factor pushing the USD exchange rate up in recent sessions. Experts say that Mr. Trump's tariff and trade policies could push inflation in the US higher. This could pose many challenges for the FED as they have not yet completely won the battle to cool down inflation. The CME FedWatch interest rate tracker shows that traders are now betting on a 65% chance that the FED will cut interest rates by 25 basis points at its December meeting, down from the 80% rate achieved before Trump's victory.

The Fed’s decision to cut interest rates was seen as a move to stimulate the economy and support the market. The rate cut reduced 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-chieu-u-tang-tro-lai-358550.html