Domestic market
At Phu Quy Gold and Gemstone Group, Phu Quy silver price is stable, listed at 1,267,000 VND/tael (buy) and 1,306,000 VND/tael (sell) in Hanoi .
In addition, according to a survey at other trading locations in Hanoi, domestic silver prices continued to decrease in both buying and selling directions, currently listed at VND 1,052,000/tael (buy) and VND 1,082,000/tael (sell).
In Ho Chi Minh City, silver prices also decreased, currently at 1,054,000 VND/tael (buy) and 1,088,000 VND/tael (sell).
World silver prices reversed and decreased slightly in both buying and selling directions, currently at 859,000 VND/ounce (buy) and 864,000 VND/ounce (sell).
World market
On the world market, the silver price listed on Goldprice.org is at 32.91 USD/ounce.
Silver prices were little changed after the US PCE report for April confirmed a downward trend in inflation, according to FX Empire.
The PCE index, the Federal Reserve's preferred inflation gauge, rose just 0.1% for the month and 2.1% year-over-year, below expectations. The core PCE, which excludes food and energy prices, also rose 0.1% for the month and fell to 2.5% year-over-year, below expectations of 2.6%.
"Despite the data showing a slowdown in inflation, silver prices have barely reacted as the market has been expecting it. This low volatility reflects the waiting for a new catalyst," said James Hyerczyk, market analyst at FX Empire.
He said that if silver breaks above $33.70 an ounce, it could attract new buying interest with a target of $34.59 to $34.87 an ounce. Conversely, if it falls below $32.70 an ounce, selling pressure could push the price back to around $31.56 an ounce.
Source: https://baodaknong.vn/gia-bac-hom-nay-1-6-tiep-tuc-giam-254279.html
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