Today's silver prices (December 13th) show a downward trend in both domestic and international markets after three consecutive days of increases.
Today's silver prices at Phu Quy Gold, Silver and Gemstone Group saw a sharp decrease, reaching 1,142,000 VND/ounce (buying price) and 1,177,000 VND/ounce (selling price) in Hanoi. Additionally, surveys at other trading locations in Hanoi show a downward adjustment, currently listed at 952,000 VND/ounce (buying price) and 986,000 VND/ounce (selling price). In Ho Chi Minh City, silver prices also decreased, reaching 954,000 VND/ounce (buying price) and 988,000 VND/ounce (selling price). World silver prices also saw a slight decrease, currently trading at 787,000 VND/ounce (buying price) and 792,000 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 December 13, 2024:
Silver type | Unit | Hanoi | Ho Chi Minh City | ||
Buy | Sell | Buy | Sell | ||
99.9% Silver | 1 tael | 952,000 | 986,000 | 954,000 | 988,000 |
| 1 kg | 25,394,000 | 26,292,000 | 25,446,000 | 26,343,000 | |
| 99.99% Silver | 1 tael | 960,000 | 994,000 | 962,000 | 996,000 |
| 1 kg | 25,600,000 | 26,504,000 | 25,642,000 | 26,555,000 | |
Updated silver price list at Phu Quy Gold, Silver and Gemstone Group on December 13, 2024:
Silver type | Unit/VND | Hanoi | |
Buy | Sell | ||
Phu Quy 999 Silver Bars and Ingots | 1 tael | 1,142,000 | 1,177,000 |
| 999 Gold Ingots | 1 kg | 30,453,257 | 31,386,588 |
Latest update on world silver prices as of December 13, 2024:
| Unit | Today's world silver price (VND) | |
Buy | Sell | |
| 1 Ounce | 787,000 | 792,000 |
| 1 tael | 94,841 | 95,453 |
| 1 tael | 948,000 | 955,000 |
| 1 kg | 25,291,000 | 25,454,000 |
The silver market experienced mixed performance last week, with prices fluctuating within a narrow range. Although supported by the decline in the US dollar at the beginning of the week, which pushed silver prices higher than in the past month, prices quickly reversed course and fell sharply towards the end of the week.
In addition, commodity prices also benefited after the US released inflation figures that were in line with expectations, increasing the likelihood that the Federal Reserve (FED) will cut interest rates next week.
Specifically, according to data released yesterday (December 11) by the Bureau of Labor Statistics of the U.S. Department of Labor, the consumer price index (CPI) in November increased by 0.3% compared to the previous month and by 2.7% compared to the same period last year. Both figures are in line with market forecasts. Notably, rental costs, one of the most rigid components of inflation, increased at the slowest rate in nearly three and a half years.
With inflation rising in line with forecasts, expectations of a Fed interest rate cut at this month's meeting are strengthening. The probability of a 25 basis point cut next week has risen to 95%, up from around 85% before the inflation report was released, according to CME Group's FedWatch interest rate tracker. This is expected to be the Fed's third rate cut this year. Consequently, thanks to these optimistic expectations, investors continue to shift funds towards precious metals, a sector sensitive to interest rates.
Source: https://congthuong.vn/gia-bac-hom-nay-13122024-bac-do-ng-loat-gia-m-manh-363967.html
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