Today's silver price is listed at 911,000 VND/tael for buying and 956,000 VND/tael for selling in Hanoi. The silver price in Ho Chi Minh City is listed higher at 913,000 VND/tael for buying and 958,000 VND/tael for selling. The world silver price is at 754,000 VND/ounce for buying and 759,000 VND/ounce for selling.
Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on September 16, 2024:
Silver type | Unit | Hanoi | Ho Chi Minh City | ||
Buy | Sell out | Buy | Sell out | ||
99.9 silver | 1 amount | 911,000 | 956,000 | 913,000 | 958,000 |
| 1 kg | 24,301,000 | 25,499,000 | 24,339,000 | 25,545,000 | |
| Silver 99.99 | 1 amount | 917,000 | 957,000 | 918,000 | 962,000 |
| 1 kg | 24,449,000 | 25,511,000 | 24,469,000 | 25,648,000 | |
Latest update on world silver prices on September 16, 2024
| Unit | World silver price today (VND) | |
Buy | Sell out | |
| 1 Ounce | 754,000 | 759,000 |
| 1 finger | 90,947 | 91,539 |
| 1 amount | 909,000 | 915,000 |
| 1 kg | 24,253,000 | 24,410,000 |
Silver prices weakened slightly at the end of the weekend trading session but were still at their highest level in the past two months.
The main reason behind this strong growth is that investors are expecting the US Federal Reserve (FED) to decide to cut interest rates at its upcoming meeting.
The latest economic data from the US has further reinforced this expectation. Specifically, the US producer price index (PPI) and core PPI were both lower than forecast, indicating that inflation is cooling faster than expected. In addition, the number of unemployment benefit applications increased, a signal that the labor market is slowing down. Cooling inflation will create conditions for the FED to have more space to adjust monetary policy, and a rate cut is one of the possibilities most expected by investors.
In addition, the European Central Bank's (ECB) decision to cut interest rates also contributed to the optimistic sentiment in the precious metals market. This move by the ECB has increased expectations that the FED will make a similar move.
However, investors should also note that the precious metals market remains volatile and is affected by many different factors. In addition to monitoring central banks’ policy decisions, investors should also pay attention to factors such as geopolitical situations, exchange rate fluctuations and supply and demand in the market.
Factors that could affect the precious metals market in the coming period, such as the FED’s interest rate decision, will be the most important factor affecting the precious metals market. A global economic slowdown can increase the safe-haven demand for gold and other precious metals. A weaker US dollar can increase the price of precious metals, as they are priced in US dollars. Changes in the supply and demand of precious metals can also affect prices.
The precious metals market is experiencing a period of strong growth, especially silver prices. However, investors need to be cautious and diversify their portfolios to minimize risks. Closely monitoring the factors affecting the market is extremely important to make the right investment decisions.
Source: https://congthuong.vn/gia-bac-hom-nay-1692024-bac-the-gioi-suy-giam-nhe-346052.html
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