Silver prices have the strongest increase since June

Today's silver price is listed at 920,000 VND/tael for buying and 965,000 VND/tael for selling in Hanoi. The silver price in Ho Chi Minh City is listed higher at 921,000 VND/tael for buying and 966,000 VND/tael for selling. The world silver price is at 752,000 VND/ounce for buying and 757,000 VND/ounce for selling.

Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on September 14, 2024:

Silver type	Unit	Hanoi		Ho Chi Minh City
		Buy	Sell	Buy	Sell
Silver 99.9	1 amount	920,000	965,000	921,000	966,000
	1 kg	24,525,000	25,723,000	24,563,000	25,769,000
Silver 99.99	1 amount	925,000	965,000	926,000	970,000
	1 kg	24,673,000	25,735,000	24,693,000	25,872,000

Latest update on world silver prices on September 14, 2024

Unit	World silver price today (VND)
	Buy	Sell
1 Ounce	752,000	757,000
1 only	90,665	91,257
1 amount	907,000	913,000
1 kg	24,177,000	24,335,000

The metals market closed yesterday with a second consecutive session of gains. For precious metals, silver prices jumped more than 4% to $30.1 an ounce, a two-month high. This was also the strongest increase in silver prices since mid-June this year. Platinum prices increased more modestly, rising 2.72% to $982.2 an ounce, a one-and-a-half-month high.

Precious metals continued to be supported after the US released economic data that reinforced the case for a rate cut next week. Specifically, according to the US Department of Labor's Bureau of Labor Statistics, the US producer price index (PPI) and core PPI increased 1.7% and 2.4% year-on-year in August. Both figures were 0.1 percentage points lower than forecast, reflecting faster-than-expected factory inflation. In addition, the US Department of Labor also said that the number of unemployment claims last week increased by 2,000 to 230,000, surpassing the market forecast of 227,000.

Adding to the support, yesterday the European Central Bank (ECB) decided to cut interest rates to 3.5% from 3.75%, marking the second consecutive rate cut by the bank. This move by the ECB has increased confidence that the FED will make a similar move at its important meeting next week.

Source: https://congthuong.vn/gia-bac-hom-nay-1492024-gia-bac-co-phien-tang-gia-manh-nhat-ke-tu-thang-6-345777.html