Global silver prices continue to weaken.

Today's silver price is listed at 646,500 VND/ounce for buying and 670,800 VND/ounce for selling in Hanoi. In Ho Chi Minh City, the listed price is higher at 648,400 VND/ounce for buying and 671,500 VND/ounce for selling. World silver prices declined, with prices at 696,000 VND/ounce for buying and 701,000 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 5, 2024:

Silver type	Unit	Hanoi		Ho Chi Minh City
		Buy	Sell	Buy	Sell
99.9% Silver	1 tael	646,500	670,800	648,400	671,500
	1 kg	17,240,000	17,888,000	17,290,000	17,907,000
99.99% Silver	1 tael	648,800	672,600	650,300	674,100
	1 kg	17,300,000	17,937,000	17,340,000	17,977,000

Latest update on world silver prices as of September 5, 2024.

Unit	Today's world silver price (VND)
	Buy	Sell
1 Ounce	696,000	701,000
1 tael	83,923	84,523
1 tael	839,000	845,000
1 kg	22,379,000	22,539,000

The precious metals market is relatively quiet with thin liquidity, influenced by concerns about the Federal Reserve's interest rate adjustment trajectory.

As of 1:30 AM this morning, silver prices fell 0.87% to $28.8 per ounce, while platinum also lost 0.23% to $930.1 per ounce. The fluctuating prices of these precious metals mainly stem from uncertainty regarding the Federal Reserve's interest rate outlook.

Data released last weekend showed that the pace of inflation decline in the US is slowing. Specifically, the US personal consumption expenditure (PCE) and core PCE remained unchanged from the previous month, at 2.5% and 2.6% respectively in July. This contradicts the expectations of many investors that inflation would continue to cool down.

The stubbornness of US inflation is causing investors to worry that the Fed may be more cautious in cutting interest rates. Instead of a 50 basis point reduction as previously predicted, the Fed is more likely to cut rates by only 25 basis points at its September meeting.

To gain a clearer picture of the Fed's upcoming monetary policy decision, the market is focusing on the US non-farm payrolls report to be released on Friday (September 6). If this report shows that the labor market remains hot, it would further reinforce the view that the Fed needs to maintain higher interest rates for a longer period.

Conversely, if the jobs report shows signs of weakness, this could pave the way for the Fed to implement more aggressive monetary easing measures, thereby supporting a rebound in precious metal prices.

In summary, the precious metals market is experiencing a period of unpredictable volatility due to conflicting information regarding inflation and the Federal Reserve's monetary policy. Investors need to closely monitor market developments to make appropriate investment decisions.

Source: https://congthuong.vn/gia-bac-hom-nay-592024-bac-the-gioi-tiep-tuc-suy-yeu-343474.html