Silver prices fell across both domestic and international markets.

Silver price today (November 3), the world silver market and domestic silver have the deepest drop in the past 2 weeks.

Silver price today at Phu Quy Gold Investment Joint Stock Company, the listed silver price has been adjusted down to 1,204,000 VND/tael (buy) and 1,241,000 VND/tael (sell) in Hanoi. In addition, according to a survey at other trading locations in Hanoi, the silver price is currently listed at 996,000 VND/tael (buy) and 1,026,000 VND/tael (sell). In Ho Chi Minh City, the listed silver price is higher, at 998,000 VND/tael (buy) and 1,028,000 VND/tael (sell). The world silver price is at 821,000 VND/ounce (buy) and 826,000 VND/ounce (sell).

Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on November 3, 2024:

Silver type	Unit	Hanoi		Ho Chi Minh City
		Buy	Sell ​​out	Buy	Sell ​​out
99.9 silver	1 amount	996,000	1,026,000	998,000	1,028,000
	1 kg	26,554,000	27,352,000	26,606,000	27,403,000
Silver 99.99	1 amount	999,000	1,030,000	1,001,000	1,032,000
	1 kg	26,650,000	27,464,000	26,702,000	27,515,000

Update the latest silver price list of Phu Quy Gold Investment Joint Stock Company on January 3, 2024:

Silver type	Unit/VND	Hanoi
		Buy	Sell ​​out
Silver bars, Phu Quy 999 silver bars	1 amount	1,204,000	1,245,000
Phu Quy 999 Silver Bar	1 kg	32,106,586	33,093,251

Latest update on world silver price on November 3, 2024:

Unit	World silver price today (VND)
	Buy	Sell ​​out
1 Ounce	821,000	826,000
1 finger	99,023	99,633
1 amount	990,000	996,000
1 kg	26,406,000	26,569,000

The release of the US personal consumption expenditures (PCE) price index has caused significant fluctuations in the precious metals market. Specifically, the price of silver fell sharply by 3.75% to 32.79 USD/ounce, the lowest level in the past two weeks.

The main reason for this decline is believed to be the market's expectation that the US Federal Reserve (FED) will continue to lower interest rates at its upcoming meeting. The slower-than-expected increase in the PCE index has reinforced this belief. When interest rates fall, the opportunity cost of holding non-yielding assets such as gold and silver will decrease, thereby reducing their appeal.

The easing of fears of a global recession has also contributed to the decline of the precious metal's role as a "safe haven". Recent US economic data showed that the world's largest economy is still growing steadily, the labor market is solid and consumer spending is increasing. This has caused investors to shift to higher-yielding investment channels such as stocks.

Given the current developments, the market is expected to continue to closely monitor the Fed's moves and macroeconomic information. If the Fed does indeed cut interest rates as expected, the price of silver and other precious metals could continue to decline. However, unexpected factors such as geopolitical tensions or other unexpected events could reverse this trend.

Source: https://congthuong.vn/gia-bac-hom-nay-3112024-bac-dong-loat-giam-ca-thi-truong-trong-nuoc-va-the-gioi-356380.html