Silver falls under pressure from the US dollar

Silver price today (December 9), domestic and world silver continued to decrease in the last 2 sessions.

Silver price today at Phu Quy Jewelry Group, silver price adjusted down slightly at 1,137,000 VND/tael (buy) and 1,172,000 VND/tael (sell) in Hanoi. In addition, according to a survey at other transaction locations in Hanoi, silver price tends to decrease, currently listed at 950,000 VND/tael (buy) and 984,000 VND/tael (sell). In Ho Chi Minh City, silver price also recorded a decrease at 952,000 VND/tael (buy) and 986,000 VND/tael (sell). World silver price decreased 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 9, 2024:

Silver type	Unit	Hanoi		Ho Chi Minh City
		Buy	Sell	Buy	Sell
Silver 99.9	1 amount	950,000	984,000	952,000	986,000
	1 kg	25,336,000	26,234,000	25,388,000	26,285,000
Silver 99.99	1 amount	958,000	992,000	959,000	994,000
	1 kg	25,542,000	26,446,000	25,584,000	26,497,000

Update the latest silver price list at Phu Quy Gold and Gemstone Group on December 9, 2024:

Silver type	Unit/VND	Hanoi
		Buy	Sell
Silver bars, Phu Quy 999 silver bars	1 amount	1,137,000	1,172,000
Phu Quy 999 Silver Bar	1 kg	30,319,924	31,253,255

Latest update on world silver prices on December 9, 2024:

Unit	World silver price today (VND)
	Buy	Sell
1 Ounce	787,000	792,000
1 only	94,830	95,442
1 amount	948,000	954,000
1 kg	25,288,000	25,451,000

The silver market was quite quiet last week, with prices fluctuating within a narrow range. Although supported by the decline of the USD at the beginning of the week, silver prices quickly reversed and fell sharply in the final session, down more than 1%.

The main reason for this fluctuation is due to mixed signals from the US labor market. Specifically, the Non-farm payroll data released at the end of the week showed that the US labor market is showing positive signs. The number of jobs created in November was higher than expected, while average income also increased. This information helped the USD strengthen, putting pressure on the price of silver and other precious metals.

The volatility of silver prices has impacted investors and businesses involved in the precious metals industry. Investors need to closely monitor market developments to make appropriate investment decisions.

In the coming time, silver prices may continue to be under pressure from the movements of the USD and macroeconomic information. Investors need to pay close attention to these factors to make effective investment decisions.

Source: https://congthuong.vn/gia-bac-hom-nay-9122024-bac-gia-m-truoc-ap-luc-cu-a-dong-ng-usd-363209.html