Silver continues its upward trend.

Today's silver price ( December 12th) saw an impressive increase, at one point surpassing the $32/ounce mark, its highest level in over a month.

Today's silver price at Phu Quy Gold, Silver and Gemstone Group remains stable at 1,177,000 VND/ounce (buying price) and 1,213,000 VND/ounce (selling price) in Hanoi . Additionally, according to surveys at other trading locations in Hanoi, the current silver price is listed at 977,000 VND/ounce (buying price) and 1,007,000 VND/ounce (selling price). In Ho Chi Minh City, the silver price is also recorded at 979,000 VND/ounce (buying price) and 1,009,000 VND/ounce (selling price). World silver prices have increased slightly to 807,000 VND/ounce (buying price) and 812,000 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 12, 2024:

Silver type	Unit	Hanoi		Ho Chi Minh City
		Buy	Sell	Buy	Sell
99.9% Silver	1 tael	977,000	1,007,000	979,000	1,009,000
	1 kg	26,061,000	26,859,000	26,113,000	26,910,000
99.99% Silver	1 tael	985,000	1,015,000	987,000	1,017,000
	1 kg	26,267,000	27,071,000	26,309,000	27,122,000

Updated silver price list at Phu Quy Gold, Silver and Gemstone Group on December 12, 2024:

Silver type	Unit/VND	Hanoi
		Buy	Sell
Phu Quy 999 Silver Bars and Ingots	1 tael	1,177,000	1,213,000
999 Gold Ingots	1 kg	31,386,588	32,346,586

Latest update on world silver prices as of December 12, 2024:

Unit	Today's world silver price (VND)
	Buy	Sell
1 Ounce	807,000	812,000
1 tael	97,295	97,907
1 tael	973,000	979,000
1 kg	25,945,000	26,108,000

Silver prices tend to rise following China's decision to resume gold purchases after a six-month hiatus. This not only supports the gold market but also has a positive ripple effect on the silver market. As the world's largest gold importer, this move indicates a strong increase in demand for the precious metal.

Furthermore, the price of silver is also influenced by factors such as interest rates, exchange rates, and industrial demand, especially since silver plays a crucial role in high-tech manufacturing. In addition, increased conflict in the region has created an unstable environment, leading investors to seek safe haven assets like silver and gold.

Investors are more optimistic about the global economic outlook after several positive economic indicators were released. This not only boosted demand for silver but also created a favorable environment for riskier assets.

Source: https://congthuong.vn/gia-bac-hom-nay-12122024-bac-noi-da-i-da-tang-363793.html