World silver prices weaken
As of the morning of November 17, the price of silver on the world market was listed at 50.34 USD/ounce, recording a decrease of 0.21 USD compared to the previous session. This decline was driven by the expectation that the US Federal Reserve (FED) would cut interest rates, which had almost disappeared, causing investors to withdraw capital from assets considered risky.
The silver market is in a delicate phase after two consecutive sessions of declines, according to James Hyerczyk, precious metals analyst at FX Empire. He warned that prices could continue to fall if key support levels are broken.
The expert added that silver prices had previously risen sharply to nearly $54.39 an ounce but quickly reversed due to a widespread sell-off. "Not only silver, but also technology stocks, AI groups, cryptocurrencies and gold have all fallen sharply, showing that the divestment sentiment is spreading," Mr. Hyerczyk analyzed. Despite a slight decline in the US dollar and high US bond yields - factors that usually support precious metal prices - the silver market has not shown a positive reaction.
Domestic silver market is divided.
Contrary to the global trend, the domestic silver market on November 17 recorded stability and inconsistent fluctuations depending on the business unit and region. This shows the difference in supply and demand and pricing strategies in the domestic market.
Silver price list in some areas
Below is a summary table of silver prices at some major domestic units and markets, updated on the morning of November 17:
| Unit/Market | Buying price (VND/tael) | Selling price (VND/tael) |
|---|---|---|
| Phu Quy Group ( Hanoi ) | 1,937,000 | 1,997,000 |
| Other transaction points (Hanoi) | 1,653,000 | 1,683,000 |
| Ho Chi Minh City Market | 1,655,000 | 1,689,000 |
Prices at Phu Quy Gold and Gemstone Group remained stable compared to the previous session. Meanwhile, other trading locations in Hanoi and Ho Chi Minh City also did not record significant changes in both buying and selling directions.
Source: https://baolamdong.vn/gia-bac-1711-the-gioi-giam-xuong-5034-usdounce-403253.html
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