World silver returns to green

Silver price today (November 20), after four consecutive sessions of decline, world silver price increased 2.6% to more than 31 USD/ounce.

Silver price today at Phu Quy Gold Investment Joint Stock Company, the listed silver price increased to 1,155,000 VND/tael (buy) and 1,191,000 VND/tael (sell) in Hanoi . In addition, according to a survey at other trading locations in Hanoi, the silver price is currently listed at 972,000 VND/tael (buy) and 1,002,000 VND/tael (sell). In Ho Chi Minh City, the listed silver price is higher, at 974,000 VND/tael (buy) and 1,004,000 VND/tael (sell). The world silver price is at 795,000 VND/ounce (buy) and 800,000 VND/ounce (sell).

Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on November 20, 2024:

Silver type	Unit	Hanoi		Ho Chi Minh City
		Buy	Sell ​​out	Buy	Sell ​​out
99.9 silver	1 amount	972,000	1,002,000	974,000	1,004,000
	1 kg	25,925,000	26,723,000	25,977,000	26,774,000
Silver 99.99	1 amount	980,000	1,010,000	981,000	1,012,000
	1 kg	26,131,000	26,935,000	26,173,000	26,986,000

Update the latest silver price list of Phu Quy Gold Investment Joint Stock Company on November 20, 2024:

Silver type	Unit/VND	Hanoi
		Buy	Sell ​​out
Silver bars, Phu Quy 999 silver bars	1 amount	1,155,000	1,191,000
Phu Quy 999 Silver Bar	1 kg	30,799,923	31,759,921

Latest update on world silver price on November 20, 2024:

Unit	World silver price today (VND)
	Buy	Sell ​​out
1 Ounce	795,000	800,000
1 finger	95,814	96,426
1 amount	958,000	964,000
1 kg	25,550,000	25,714,000

Green returned to the metal price chart in the first trading session of the week. For precious metals, silver prices increased by 2.6% to more than 31 USD/ounce. Platinum prices also continued to increase from the last session of last week, increasing by more than 3% to 974.5 USD/ounce. Prices of both commodities recovered after a recent decline, partly thanks to technical buying by speculators.

In addition, the slowing growth of the USD also helped the market gradually stabilize, thereby supporting the price of precious metals. The Dollar Index, a measure of the strength of the greenback compared to 6 other major foreign currencies, fell for two consecutive sessions with a decrease of 0.39% to 106.28 points.

However, this increase in silver and platinum prices is expected to be short-term and difficult to maintain for a long time due to the pressure from the increase in the USD exchange rate, which is still very large. Currently, the Dollar Index is still trading at a one-year high. Moreover, concerns that the US Federal Reserve (FED) will maintain high interest rates longer than before are also being pushed higher after FED Chairman Jerome Powell said last week that the FED is "in no hurry to lower interest rates". Boston FED President Susan Collins also emphasized that there is no guarantee that the FED will lower interest rates in December.

This week, the precious metals market is expected to experience a quieter week as the market temporarily lacks new important macro reports, and the wave of US political news surrounding President-elect Donald Trump is also gradually cooling down.

Source: https://congthuong.vn/gia-bac-hom-nay-20112024-bac-the-gioi-quay-tro-lai-sac-xanh-359684.html