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Silver falls under pressure from the US dollar.

Báo Công thươngBáo Công thương08/12/2024

Today's silver price (December 9th): Domestic and international silver prices continue to decline over the past two sessions.


Today's silver price at Phu Quy Gold, Silver and Gemstone Group saw a slight decrease, reaching 1,137,000 VND/ounce (buying price) and 1,172,000 VND/ounce (selling price) in Hanoi. Additionally, surveys at other trading locations in Hanoi show a downward trend, currently listed at 950,000 VND/ounce (buying price) and 984,000 VND/ounce (selling price). In Ho Chi Minh City, the price also decreased to 952,000 VND/ounce (buying price) and 986,000 VND/ounce (selling price). World silver prices also fell to 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 9, 2024:

Silver type

Unit

Hanoi

Ho Chi Minh City

Buy

Sell

Buy

Sell

99.9% Silver

1 tael

950,000

984,000

952,000

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986,000

1 kg 25,336,000 26,234,000 25,388,000 26,285,000
99.99% Silver 1 tael 958,000 992,000 959,000 994,000
1 kg 25,542,000 26,446,000 25,584,000 26,497,000

Updated silver price list at Phu Quy Gold, Silver and Gemstone Group on December 9, 2024:

Silver type

Unit/VND

Hanoi

Buy

Sell

Phu Quy 999 Silver Bars and Ingots

1 tael

1,137,000

1,172,000

999 Gold Ingots 1 kg 30,319,924 31,253,255

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

Unit

Today's world silver price (VND)

Buy

Sell

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1 Ounce

787,000

792,000

1 tael 94,830 95,442
1 tael 948,000 954,000
1 kg 25,288,000 25,451,000

The silver market was relatively quiet last week, with prices fluctuating within a narrow range. Despite being supported by the decline in the US dollar at the beginning of the week, silver prices quickly reversed course and fell sharply in the final trading session, dropping by more than 1%.

The main reason for this volatility is the conflicting signals from the US labor market. Specifically, the Non-farm Payroll data released at the end of the week showed positive signs in the US labor market. The number of jobs created in November was higher than expected, and average earnings also increased. This information helped strengthen the US dollar, putting pressure on the price of silver and other precious metals.

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

In the coming period, silver prices may continue to be pressured by the movements of the US dollar and macroeconomic data. Investors should closely monitor these factors to make effective investment decisions.



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

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