Silver continues to fall under pressure from the US dollar

Silver price today (November 17), world silver recorded continued decrease due to great pressure from the increase in USD price.

Silver price today at Phu Quy Gold Investment Joint Stock Company, silver price is listed at 1,134,000 VND/tael (buy) and 1,169,000 VND/tael (sell) in Hanoi . In addition, according to a survey at other trading locations in Hanoi, silver price is currently listed at 943,000 VND/tael (buy) and 973,000 VND/tael (sell). In Ho Chi Minh City, silver price is listed higher, at 945,000 VND/tael (buy) and 975,000 VND/tael (sell). World silver price is at 768,000 VND/ounce (buy) and 773,000 VND/ounce (sell).

Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on November 17, 2024:

Silver type	Unit	Hanoi		Ho Chi Minh City
		Buy	Sell ​​out	Buy	Sell ​​out
99.9 silver	1 amount	943,000	973,000	945,000	975,000
	1 kg	25,140,000	25,938,000	25,192,000	25,989,000
Silver 99.99	1 amount	950,000	981,000	952,000	983,000
	1 kg	25,346,000	26,150,000	25,388,000	26,201,000

Update the latest silver price list of Phu Quy Gold Investment Joint Stock Company on November 17, 2024:

Silver type	Unit/VND	Hanoi
		Buy	Sell ​​out
Silver bars, Phu Quy 999 silver bars	1 amount	1,134,000	1,169,000
Phu Quy 999 Silver Bar	1 kg	30,239,924	31,173,255

Latest update on world silver price on November 17, 2024:

Unit	World silver price today (VND)
	Buy	Sell ​​out
1 Ounce	768,000	773,000
1 finger	92,592	93,204
1 amount	926,000	932,000
1 kg	24,691,000	24.85.4000

Silver markets continued to see declines today, with prices down 0.31% to $30.57 an ounce. This decline once again shows that the pressure from the USD is increasing.

One of the main reasons for the downward pressure on silver prices is the strengthening of the US dollar. The Dollar Index, which measures the strength of the greenback against other major currencies, continues to rise and hit a one-year high. A stronger US dollar makes assets priced in US dollars, including silver, more expensive for holders of other currencies, thereby reducing demand for the precious metal.

In addition, factors such as rising interest rates and an uncertain global economic outlook also contribute to the decline in silver's appeal. When interest rates rise, investors tend to move money to higher-yielding investment channels such as bonds, causing money to flow out of the precious metals market.

Source: https://congthuong.vn/gia-bac-hom-nay-17112024-bac-tiep-tuc-lao-doc-duoi-ap-luc-cu-a-dong-ng-usd-359192.html