World silver increased impressively by more than 4%

Today's silver price is listed at 912,000 VND/tael for buying and 957,000 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 959,000 VND/tael for selling. The world silver price is at 755,000 VND/ounce for buying and 760,000 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 15, 2024:

Silver type	Unit	Hanoi		Ho Chi Minh City
		Buy	Sell	Buy	Sell
Silver 99.9	1 amount	912,000	957,000	913,000	959,000
	1 kg	24,316,000	25,514,000	24,354,000	25,560,000
Silver 99.99	1 amount	917,000	957,000	918,000	962,000
	1 kg	24,464,000	25,526,000	24,484,000	25,663,000

Latest update on world silver prices on September 15, 2024

Unit	World silver price today (VND)
	Buy	Sell
1 Ounce	755,000	760,000
1 only	91,006	91,599
1 amount	910,000	916,000
1 kg	24,268,000	24,426,000

The precious metals market had a strong trading week, especially silver, with an impressive increase of more than 4%.

At the end of the weekend trading session, the price of silver officially surpassed the 30.1 USD/ounce mark, the highest level in the past two months. This is the strongest increase in the price of silver since mid-June this year. In addition, the price of platinum also recorded an increase of 2.72%, to 982.2 USD/ounce, the highest level in a month and a half.

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 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 down inflation will give the Fed more space to adjust monetary policy, and cutting interest rates is one of the possibilities most expected by investors.

In addition, the European Central Bank (ECB)'s decision to cut interest rates also contributed to boosting optimism in the precious metals market. This move by the ECB has increased expectations that the FED will also 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.

Source: https://congthuong.vn/gia-bac-hom-nay-1592024-bac-the-gioi-tang-an-tuong-hon-4-345905.html