Today's silver price is listed at 911,000 VND/ounce for buying and 956,000 VND/ounce for selling in Hanoi. In Ho Chi Minh City, the listed price is higher at 913,000 VND/ounce for buying and 958,000 VND/ounce for selling. The world silver price is currently at 754,000 VND/ounce for buying and 759,000 VND/ounce for selling.
Here is the latest information on today's silver prices in the two largest markets, Hanoi and Ho Chi Minh City, on September 16, 2024:
Silver type | Unit | Hanoi | Ho Chi Minh City | ||
Buy | Sell | Buy | Sell | ||
99.9% Silver | 1 tael | 911,000 | 956,000 | 913,000 | 958,000 |
| 1 kg | 24,301,000 | 25,499,000 | 24,339,000 | 25,545,000 | |
| 99.99% Silver | 1 tael | 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 as of September 16, 2024.
| Unit | Today's world silver price (VND) | |
Buy | Sell | |
| 1 Ounce | 754,000 | 759,000 |
| 1 tael | 90,947 | 91,539 |
| 1 tael | 909,000 | 915,000 |
| 1 kg | 24,253,000 | 24,410,000 |
At the close of trading this week, silver prices weakened slightly but remained at their highest level in 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, both the US Producer Price Index (PPI) and core PPI were lower than forecast, indicating that inflation is cooling down faster than anticipated. In addition, the increase in jobless claims is also a signal that the labor market is slowing down somewhat. The cooling inflation will give the Fed more room to adjust monetary policy, and a reduction in interest rates is one of the most anticipated possibilities by investors.
Furthermore, the European Central Bank's (ECB) decision to lower interest rates also contributed to the optimistic sentiment in the precious metals market. This move by the ECB has increased expectations that the Federal Reserve will also take similar action.
However, investors should also note that the precious metals market remains volatile and is influenced by various factors. In addition to monitoring central bank policy decisions, investors should also consider 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 near future include the Federal Reserve's interest rate decision, which will be the most important factor influencing the market. A global economic slowdown could increase the demand for safe-haven assets like gold and other precious metals. A weaker US dollar could also boost the prices of precious metals, as they are priced in USD. Changes in the supply and demand of precious metals could also affect prices.
The precious metals market is experiencing a period of strong growth, particularly in silver prices. However, investors need to exercise caution and diversify their portfolios to minimize risk. Closely monitoring market factors is crucial for making sound investment decisions.
Source: https://congthuong.vn/gia-bac-hom-nay-1692024-bac-the-gioi-suy-giam-nhe-346052.html
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