Global silver prices declined due to actions from the FED.

Today's silver prices (November 4th) saw the sharpest decline in the past two weeks in both the global and domestic silver markets.

Today's silver price at Phu Quy Gold Investment Joint Stock Company is listed at 1,204,000 VND/ounce (buying price) and 1,241,000 VND/ounce (selling price) in Hanoi. Additionally, according to surveys at other trading locations in Hanoi, the current silver price is listed at 996,000 VND/ounce (buying price) and 1,026,000 VND/ounce (selling price). In Ho Chi Minh City, the listed silver price is higher, at 998,000 VND/ounce (buying price) and 1,028,000 VND/ounce (selling price). The world silver price is currently at 821,000 VND/ounce (buying price) and 826,000 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 November 4, 2024:

Silver type	Unit	Hanoi		Ho Chi Minh City
		Buy	Sell	Buy	Sell
99.9% Silver	1 tael	996,000	1,026,000	998,000 You may also like Hanoi officially implements the new model of villages and residential areas.Starting today (July 1st), many communes in Hanoi officially put their newly established villages and residential areas into operation after completing public consultations and issuing resolutions according to the planned schedule. German Foreign Minister's South American tour: Warming up economic cooperation amidst a whirlwind of competition for influence?On June 30, German Foreign Minister Johann Wadephul began a multi-day trip to South America aimed at strengthening relations with countries in the region and expanding economic cooperation, amid increasing competition for influence among major powers in Latin America. Alumax Amsterdam Shipyard inaugurated in Vietnam.On July 1, 2026, the Alumax Amsterdam shipyard, located in Thuan Thanh Industrial Park, Bac Ninh province, was officially inaugurated. This event marks a new phase of development in the field of European-technology aluminum shipbuilding in Vietnam.	1,028,000
	1 kg	26,554,000	27,352,000	26,606,000	27,403,000
99.99% Silver	1 tael	999,000	1,030,000	1,001,000	1,032,000
	1 kg	26,650,000	27,464,000	26,702,000	27,515,000

Updated silver price list from Phu Quy Gold Investment Joint Stock Company as of November 4, 2024:

Silver type	Unit/VND	Hanoi
		Buy	Sell
Phu Quy 999 Silver Bars and Ingots	1 tael	1,204,000	1,241,000
999 Gold Ingots	1 kg	32,106,586	33,093,251

Latest update on world silver prices as of November 4, 2024:

Unit	Today's world silver price (VND)
	Buy	Sell United States - Vietnam: Don't miss Ambassador Nguyen Quoc Dung visits and works in Minnesota, USA.From June 28-30, the Vietnamese Ambassador to the United States, Nguyen Quoc Dung, paid a visit and worked in Minnesota. Vietnam encourages US businesses to expand investment in high technology.On the morning of June 26th, at the Government Headquarters, Deputy Prime Minister Ho Quoc Dung received Mr. Jeff Place, Supply Chain Director of Coherent Group (USA). During the meeting, the Deputy Prime Minister affirmed that Vietnam encourages US businesses to expand investment, especially in high-tech, innovation, and semiconductor industries. Encourage U.S. businesses to expand investment in high-tech sectors.Deputy Prime Minister Ho Quoc Dung said that Vietnam welcomes US businesses to continue expanding their operations in Vietnam, especially in high-tech industries and sectors with high added value.
1 Ounce	821,000	826,000
1 tael	99,023	99,633
1 tael	990,000	996,000
1 kg	26,406,000	26,569,000

At the close of trading on Friday, silver prices continued to weaken. World silver prices fell sharply by 3.75%, to $32.79 per ounce – the lowest level in the past two weeks.

The primary reason for this decline stems from the expectation that the Federal Reserve (FED) will continue to lower interest rates in the near future. The slower-than-expected increase in the Personal Consumption Expenditures (PCE) index further reinforced this belief. When interest rates fall, the opportunity cost of holding non-yielding assets like gold and silver decreases, diminishing their attractiveness.

Aside from the impact of the Fed, US economic data shows that the world's largest economy is still growing steadily with a solid labor market and increasing consumer spending. This is causing investors to shift towards higher-yielding assets such as stocks, reducing the role of precious metals as a "safe haven".

Given the current developments, the market continues to closely monitor the Fed's actions as well as other macroeconomic information. If interest rates are lowered as expected, the price of silver and other precious metals could continue to fall. However, unexpected factors such as geopolitical tensions or other unusual fluctuations could reverse this trend.

Source: https://congthuong.vn/gia-bac-hom-nay-4112024-bac-the-gioi-suy-gia-m-do-dong-thai-tu-fed-356496.html