World silver continues to flourish

Today's silver price is listed at 900,000 VND/tael for buying and 945,000 VND/tael for selling in Hanoi. The silver price in Ho Chi Minh City is listed higher at 901,000 VND/tael for buying and 946,000 VND/tael for selling. The world silver price is at 732,000 VND/ounce for buying and 737,000 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 13, 2024:

Silver type	Unit	Hanoi		Ho Chi Minh City
		Buy	Sell	Buy	Sell
Silver 99.9	1 amount	900,000	945,000	901,000	946,000
	1 kg	23,991,000	25,189,000	24,029,000	25,235,000
Silver 99.99	1 amount	905,000	945,000	906,000	950,000
	1 kg	24,139,000	25,201,000	24,159,000	25,338,000

Latest update on world silver prices on September 13, 2024

Unit	World silver price today (VND)
	Buy	Sell
1 Ounce	732,000	737,000
1 only	88,287	88,880
1 amount	883,000	889,000
1 kg	23,543,000	23,701,000

The metals market had a good trading day as all commodities increased in price. For precious metals, silver and platinum both increased by more than 1%, closing at $28.93/ounce and $956.2/ounce, respectively. Precious metals prices benefited after the US announced cooling inflation data, helping the market confirm that the US Federal Reserve (FED) will cut interest rates by 25 basis points at its September meeting.

Specifically, according to data released by the US Department of Labor's Bureau of Labor Statistics yesterday, the country's consumer price index (CPI) increased 2.5% year-on-year in August, in line with forecasts and down from the previous month's 2.9% increase. In addition, the core CPI, which excludes volatile food and energy prices, held steady at 3.2% for the second consecutive month. However, on a monthly basis, the core CPI unexpectedly increased 0.3% in August. This figure was 0.1 percentage points higher than forecast and the highest level in the past four months.

The unexpected monthly increase in core CPI data has dampened the case for a large-scale Fed rate cut. However, the report continues to confirm that U.S. inflation remains on track to fall back to the Fed’s 2% target, allowing the Fed to cut rates at its meeting next week, expected to be by 25 basis points. Silver and platinum prices have also benefited as the low-interest-rate environment is a favorable investment environment for precious metals.

Source: https://congthuong.vn/gia-bac-hom-nay-1392024-bac-the-gioi-tiep-tuc-khoi-sac-345497.html