Silver fell sharply across the board

Silver price today (December 13), domestic and world silver tends to decrease after 3 recent increasing sessions.

Silver price today at Phu Quy Jewelry Group, silver price decreased sharply at 1,142,000 VND/tael (buy) and 1,177,000 VND/tael (sell) in Hanoi. In addition, according to a survey at other transaction locations in Hanoi, silver price adjusted down, currently listed at 952,000 VND/tael (buy) and 986,000 VND/tael (sell). In Ho Chi Minh City, silver price also recorded a decrease at 954,000 VND/tael (buy) and 988,000 VND/tael (sell). World silver price decreased slightly at 787,000/ounce (buy) and 792,000/ounce (sell).

Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on December 13, 2024:

Silver type	Unit	Hanoi		Ho Chi Minh City
		Buy	Sell	Buy	Sell
Silver 99.9	1 amount	952,000	986,000	954,000	988,000
	1 kg	25,394,000	26,292,000	25,446,000	26,343,000
Silver 99.99	1 amount	960,000	994,000	962,000	996,000
	1 kg	25,600,000	26,504,000	25,642,000	26,555,000

Update the latest silver price list at Phu Quy Gold and Gemstone Group on December 13, 2024:

Silver type	Unit/VND	Hanoi
		Buy	Sell
Silver bars, Phu Quy 999 silver bars	1 amount	1,142,000	1,177,000
Phu Quy 999 Silver Bar	1 kg	30,453,257	31,386,588

Latest update on world silver prices on December 13, 2024:

Unit	World silver price today (VND)
	Buy	Sell
1 Ounce	787,000	792,000
1 only	94,841	95,453
1 amount	948,000	955,000
1 kg	25,291,000	25,454,000

The silver market has been mixed this past week, with prices fluctuating within a narrow range. Although supported by the decline in the US dollar at the beginning of the week, causing silver prices to rise to their highest level in the past month, silver prices quickly reversed and fell sharply at the end of the week.

In addition, commodity prices also benefited after the US released inflation data in line with expectations, increasing the possibility of the US Federal Reserve (FED) cutting interest rates next week.

Specifically, according to data released by the Bureau of Labor Statistics of the US Department of Labor yesterday (December 11), in November, the country's consumer price index (CPI) increased by 0.3% compared to the previous month and increased by 2.7% compared to the same period last year. Both figures are in line with market forecasts. Notably, the cost of renting a house, one of the most rigid components of inflation, increased at the slowest rate in nearly 3 and a half years.

With inflation rising in line with forecasts, expectations for a Fed rate cut at this month’s meeting have been reinforced. The probability of a 25 basis point cut next week has risen to 95%, up from about 85% before the inflation report was released, according to the CME Group’s FedWatch tool. This is expected to be the third rate cut by the Fed this year. Accordingly, thanks to these optimistic expectations, investors continue to shift money to the precious metals group, which is sensitive to interest rates.

Source: https://congthuong.vn/gia-bac-hom-nay-13122024-bac-do-ng-loat-gia-m-manh-363967.html