Silver falls more than 4%

Silver price today (December 14), the precious metals market is facing a big storm when silver price dropped more than 4%.

Silver price today at Phu Quy Jewelry Group, silver price decreased sharply at 1,123,000 VND/tael (buy) and 1,158,000 VND/tael (sell) in Hanoi. In addition, according to a survey at other transaction locations in Hanoi, silver price adjusted down, currently listed at 949,000 VND/tael (buy) and 983,000 VND/tael (sell). In Ho Chi Minh City, silver price also recorded a decrease at 951,000 VND/tael (buy) and 984,000 VND/tael (sell). World silver price decreased slightly at 784,000/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 December 14, 2024:

Silver type	Unit	Hanoi		Ho Chi Minh City
		Buy	Sell	Buy	Sell
Silver 99.9	1 amount	949,000	983,000	951,000	984,000
	1 kg	25,303,000	26,201,000	25,355,000	26,252,000
Silver 99.99	1 amount	957,000	990,000	958,000	992,000
	1 kg	25,509,000	26,413,000	25,551,000	26,464,000

Update the latest silver price list at Phu Quy Gold and Gemstone Group on December 14, 2024:

Silver type	Unit/VND	Hanoi
		Buy	Sell
Silver bars, Phu Quy 999 silver bars	1 amount	1,123,000	1,158,000
Phu Quy 999 Silver Bar	1 kg	29,946,592	30,879,923

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

Unit	World silver price today (VND)
	Buy	Sell
1 Ounce	784,000	789,000
1 only	94,466	95,079
1 amount	945,000	951,000
1 kg	25,191,000	25,354,000

The market paid attention to the metal group when most of the items in the group closed in red, leading the general trend of the whole market. For the precious metal group, silver price fell more than 4% to 31.62 USD/ounce.

Precious metals prices came under pressure after the US released inflation figures that exceeded expectations. According to the latest data from the Bureau of Labor Statistics of the US Department of Labor, the country's producer price index (PPI) in November increased 3.4% compared to the same month last year, 0.2 percentage points higher than the market's previous forecast.

Compared to the previous month, the PPI index increased by 0.4% in November, the highest level since June this year, showing that inflationary pressure is returning to the manufacturing sector. Previously, the data also recorded that the consumer price index (CPI) increased to a 7-month high. The pessimistic sentiment that covered the market has pulled money out of the precious metals market and caused the prices of silver and platinum to reverse and decline.

Source: https://congthuong.vn/gia-bac-hom-nay-14122024-bac-gia-m-manh-hon-4-364164.html