Overview of silver price today 12/3/2024
At Phu Quy Gold Investment Joint Stock Company in Hanoi , silver prices remained stable with buying prices of VND1,137,000/tael and selling prices of VND1,172,000/tael. Surveyed at other transaction points in the Hanoi area, silver prices are currently listed at VND940,000/tael (buying) and VND970,000/tael (selling).
In Ho Chi Minh City, silver prices decreased slightly, recorded at 942,000 VND/tael (buy) and 972,000 VND/tael (sell).
In the international market, silver prices also decreased, with the buying price being 768,000 VND/ounce and the selling price being 773,000 VND/ounce.
These developments show that domestic and world silver prices are fluctuating slightly, depending on supply and demand and fluctuations in the global precious metals market.
Update on silver price on December 3 in two major markets Hanoi and Ho Chi Minh City
| Silver type | Unit | Hanoi | Ho Chi Minh City | ||
| Buy | Sell | Buy | Sell | ||
| Silver 99.9 | 1 amount | 940,000 | 970,000 | 942,000 | 972,000 |
| 1 kg | 25,060,000 | 25,858,000 | 25,112,000 | 25,909,000 | |
| Silver 99.99 | 1 amount | 947,000 | 978,000 | 949,000 | 980,000 |
| 1 kg | 25,266,000 | 26,070,000 | 25,308,000 | 26,121,000 | |
Update silver price list 3/12 of Phu Quy Gold Investment Joint Stock Company
| Silver type | Unit/VND | Hanoi | |
| Buy | Sell | ||
| Silver bars, Phu Quy 999 silver bars | 1 amount | 1,137,000 | 1,172,000 |
| Phu Quy 999 Silver Bar | 1 kg | 30,319,924 | 31,253,255 |
Update world silver price list on December 3, 2024
| Unit | World silver price today (VND) | |
| Buy | Sell | |
| 1 Ounce | 768,000 | 773,000 |
| 1 only | 92,584 | 93,197 |
| 1 amount | 926,000 | 932,000 |
| 1 kg | 24,689,000 | 24,852,000 |
World silver prices continued their downward trend, continuing a series of correction sessions despite a slight recovery at the end of last week. This precious metal is facing great pressure from weak industrial demand and record inventories in China.
With around 58% of global silver production used in industry, especially electric vehicles, silver prices are heavily dependent on the growth of these sectors. However, the slowing growth of the electric vehicle industry, affected by factors such as uneven support policies across countries, is significantly reducing silver demand.
China, the world’s largest producer and consumer of silver, continues to be a major influence on market trends. Currently, silver inventories in the country have reached a record high of 1,200 tonnes, reflecting a decline in domestic demand due to restrictions on the real estate and carbon-intensive energy sectors. This excess supply is putting pressure on silver prices, making it difficult for them to increase in the medium to long term.
In addition to supply and demand factors, geopolitical tensions in the Middle East, especially in Syria, have also contributed to volatility in the silver market. Some investors seek silver as a safe haven asset, similar to gold, in times of uncertainty.
In the US market, the Thanksgiving holiday reduced trading activity, which took some of the upward momentum out of the market. Overall, the silver market is in a volatile state, affected by a combination of industrial demand, geopolitical developments, and global economic factors.
Source: https://baodaknong.vn/gia-bac-hom-nay-3-12-2024-ca-thi-truong-noi-dia-va-quoc-te-tiep-tuc-xu-huong-giam-235853.html
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