Silver prices fluctuate strongly, should we buy and accumulate for investment?

(NLDO) – Silver prices fluctuate more strongly than gold, suitable for those with small investment capital and long-term holding.

On August 5, the price of silver on the international market was at 37.33 USD/ounce, down slightly from the previous session. However, in the past 2 weeks, the price of silver skyrocketed to 39.8 USD/ounce and then suddenly dropped to 36.25 USD/ounce. Then it rebounded.

Silver prices recovered from a series of sharp declines as the market expected a US interest rate cut in September amid weak economic data. The US jobs report slowed in July and was much weaker than in previous months. US stocks sold off, benefiting silver along with gold.

According to analysts, silver prices fluctuate in the same rhythm as gold prices but with a larger amplitude. Each session, gold prices increase or decrease by 1-2%, but silver prices can fluctuate by 2.5-3%.

Silver prices up more than 30% since the beginning of the year

In the domestic market, silver prices were listed by some brands at VND1,429 million/tael for buying and VND1,473 million/tael for selling, up VND12,000/tael compared to yesterday. Domestic silver prices increased again after a week of adjustment, losing about 2.3%.

Since the beginning of the year, each tael of silver has increased by about 354,000 VND (+31.6%). This is a much higher return than other investment channels such as savings.

Silver prices have fluctuated continuously in recent days.

Ms. Nguyen Thanh (living in Ban Co Ward, Ho Chi Minh City) said she wants to buy silver for investment because the capital cost is low and the profit is higher than other channels. Many other investors are also wondering whether they should buy silver at this time, especially when the price of silver has continuously decreased in recent days.

Speaking to a reporter from Nguoi Lao Dong Newspaper, financial expert Tran Duy Phuong analyzed that silver prices often fluctuate with gold due to the influence of economic data on the international market. Since the beginning of the year, silver prices have attracted the attention of investors, especially since this is an investment channel with low capital. For example, the capital to buy 1 tael of SJC gold bars can buy about 83 taels of silver.

"The prospect of silver price increase in the final period of the year is very large. Silver price also fluctuates closely with world price. The number of enterprises "entering" the production of various silver products to bring to the market is also greater. However, silver investment is suitable for long-term storage of 3-6 months, instead of surfing" - Mr. Tran Duy Phuong said.

Source: https://nld.com.vn/gia-bac-tang-manh-giam-sau-co-nen-mua-de-cat-giu-thay-vang-196250805152159741.htm