Silver maintains bullish momentum after Fed decision

Today's silver price is listed at 919,000 VND/tael for buying and 956,000 VND/tael for selling in Hanoi. The silver price in Ho Chi Minh City is listed higher at 920,000 VND/tael for buying and 962,000 VND/tael for selling. The world silver price is at 762,000 VND/ounce for buying and 765,000 VND/ounce for selling.

Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on September 25, 2024:

Silver type	Unit	Hanoi		Ho Chi Minh City
		Buy	Sell	Buy	Sell
Silver 99.9	1 amount	919,000	956,000	920,000	962,000
	1 kg	24,507,000	25,505,000	24,545,000	25,651,000
Silver 99.99	1 amount	925,000	957,000	925,000	966,000
	1 kg	24,655,000	25,517,000	24,675,000	25,754,000

Latest update on world silver prices on September 25, 2024

Unit	World silver price today (VND)
	Buy	Sell
1 Ounce	762,000	765,000
1 only	91,835	92,280
1 amount	918,000	923,000
1 kg	24,489,000	24,608,000

The precious metals market has seen strong fluctuations, with the focus on the US Federal Reserve's interest rate decision. Silver prices had a successful trading week, rising for two consecutive weeks and reaching $31.50/ounce, the highest level in more than two months. This figure corresponds to an increase of 1.39% compared to the previous week. This growth is believed to be due to expectations that the Fed will cut interest rates, a move that could boost demand for safe-haven assets such as silver.

The Fed’s decision to cut interest rates, although considered “dovish,” is still seen as a positive signal for the precious metals market. However, the reaction of silver and platinum prices shows that investors are still cautiously assessing the actual impact of this policy on the market.

According to experts, the difference in the price movements of silver and platinum can be due to a number of factors such as: The supply and demand situation of each precious metal can be different, leading to different reactions to external factors. Investment cash flow into ETFs related to silver can increase more strongly than platinum, pushing silver prices up. Technical factors such as resistance and support levels can also affect the prices of precious metals.

Despite the unexpected fluctuations, experts remain optimistic about the short-term outlook for precious metals. The Fed’s continued monetary easing policy, coupled with geopolitical uncertainties around the world, is expected to continue to support precious metal prices. The Fed’s decision on interest rates has had a significant impact on the market, but investors still need to closely monitor further developments to make appropriate investment decisions.

Source: https://congthuong.vn/gia-bac-hom-nay-2592024-bac-duy-tri-da-tang-sau-quyet-dinh-cua-fed-348066.html