Recorded an impressive increase of 2.03%.

Overview of silver price today 12/5/2024

Today's silver price at Phu Quy Jewelry Group recorded a slight increase. Specifically, the buying price is 1,149,000 VND/tael and the selling price is 1,185,000 VND/tael in Hanoi . Meanwhile, other transaction points in Hanoi also reported a slight increase in silver prices, with listed prices of 954,000 VND/tael (buy) and 988,000 VND/tael (sell).

In Ho Chi Minh City, silver prices increased and were traded at VND956,000/tael (buy) and VND990,000/tael (sell).

In the international market, the world silver price also recorded an upward adjustment, currently trading at 786,000 VND/ounce (buy) and 791,000 VND/ounce (sell).

Update on silver price on December 5 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	954,000	988,000	956,000	990,000
	1 kg	25,446,000	26,344,000	25,498,000	26,395,000
Silver 99.99	1 amount	962,000	996,000	964,000	998,000
	1 kg	25,652,000	26,556,000	25,694,000	26,607,000

Update silver price list 12/5 of Phu Quy Gold Investment Joint Stock Company

Silver type	Unit/VND	Hanoi
		Buy	Sell
Silver bars, Phu Quy 999 silver bars	1 amount	1,149,000	1,185,000
Phu Quy 999 Silver Bar	1 kg	30,639,923	31,599,921

Update world silver price list on December 5, 2024

Unit	World silver price today (VND)
	Buy	Sell
1 Ounce	786,000	791,000
1 only	94,752	95,364
1 amount	948,000	954,000
1 kg	25,267,000	25,430,000

The precious metals market continued to see strong gains in yesterday's trading session, with silver leading the way with an impressive 2.03% increase to $31.49 an ounce. This recovery came amid rising trade tensions between the US and China, causing investors to turn to traditional safe-haven assets.

One notable factor was the announcement by the Chinese Ministry of Commerce to ban exports of items such as gallium, germanium, antimony and other superhard materials with military applications to the United States. The move raised concerns about disruptions to global supply chains and contributed to the rise in precious metal prices. This was China's response to US restrictions on chip exports to Chinese companies. Experts say the trade war between the world's two largest economies could be prolonged and cause strong fluctuations in global financial markets.

The weakening of the US dollar also played a role in boosting precious metal prices. The US Dollar Index fell slightly, indicating a decline in the attractiveness of the greenback. When the US dollar weakens, assets priced in other currencies, such as gold and silver, become more attractive to international investors.

The rise in precious metals reflects investors’ concerns about the global economic outlook and their search for safer investments. Gold and silver continue to be viewed as effective hedges against risk amid high inflation, tight monetary policy and geopolitical uncertainty.

However, experts also warn that the precious metals market is still facing many fluctuations. Investors need to closely monitor market developments to make appropriate investment decisions.

Source: https://baodaknong.vn/gia-bac-hom-nay-5-12-2024-ghi-nhan-muc-tang-an-tuong-2-03-236054.html