Silver price today (December 19), domestic and world silver prices recorded a decrease after the US Federal Reserve (FED)'s decision to lower interest rates.
Silver price today at Phu Quy Jewelry Group, silver price decreased at 1,090,000 VND/tael (buy) and 1,124,000 VND/tael (sell) in Hanoi . In addition, according to a survey at other trading locations in Hanoi, the silver price is currently listed at 919,000 VND/tael (buy) and 952,000 VND/tael (sell). In Ho Chi Minh City, silver price also recorded a decrease at 921,000 VND/tael (buy) and 954,000 VND/tael (sell). World silver price decreased sharply, currently at 751,000 VND/ounce (buy) and 756,000 VND/ounce (sell).
Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on December 19, 2024:
Silver type | Unit | Hanoi | Ho Chi Minh City | ||
Buy | Sell out | Buy | Sell out | ||
99.9 silver | 1 amount | 919,000 | 952,000 | 921,000 | 954,000 |
| 1 kg | 24,500,000 | 25,398,000 | 24,552,000 | 25,449,000 | |
| Silver 99.99 | 1 amount | 926,000 | 960,000 | 928,000 | 962,000 |
| 1 kg | 24,706,000 | 25,610,000 | 24,748,000 | 25,661,000 | |
Update the latest silver price list at Phu Quy Gold and Gemstone Group on December 19, 2024:
Silver type | Unit/VND | Hanoi | |
Buy | Sell out | ||
Silver bars, Phu Quy 999 silver bars | 1 amount | 1,090,000 | 1,124,000 |
| Phu Quy 999 Silver Bar | 1 kg | 29,066,594 | 29,973,258 |
Latest update on world silver price on December 19, 2024:
| Unit | World silver price today (VND) | |
Buy | Sell out | |
| 1 Ounce | 751,000 | 756,000 |
| 1 finger | 90,511 | 91,125 |
| 1 amount | 905,000 | 911,000 |
| 1 kg | 24,136,000 | 24,300,000 |
Following the previous session's decline, this morning the world silver price decreased by 1.16 USD/ounce compared to the previous trading session, to 29.35 USD/ounce.
On December 19, the US Federal Reserve (FED) decided to cut its key interest rate by 0.25 percentage points. This decision was made in the context of US inflation remaining high compared to the target and the economy is forecast to grow at 3.2% in the fourth quarter and the unemployment rate fluctuates around 4%.
Silver prices corrected lower as the market digested weaker outlooks for its industrial utility. The Fed’s projection of fewer rate cuts next year signaled that the Federal Open Market Committee (FOMC) was concerned about high core inflation and rising inflation risks from the prospect of expansionary fiscal policy and tariffs from the incoming Trump administration. This added to concerns about weak silver demand, causing the metal to underperform gold in the fourth quarter.
Source: https://congthuong.vn/gia-bac-hom-nay-19122024-bac-giam-sau-sau-quyet-dinh-ha-lai-suat-cua-fed-364933.html
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