Silver price today June 13: Stop the increase

After a series of strong price increases, domestic and world silver prices turned to decrease slightly.

On the morning of June 13, Phu Quy Gold and Gemstone Group ( Hanoi ) listed the price of Phu Quy silver at 1,382,000 VND/tael (buy) and 1,425,000 VND/tael (sell), down 1,000 VND/tael for both buying and selling compared to yesterday morning's trading session.

Also in Hanoi, according to a survey at other trading locations, silver prices are currently listed at VND1,113,000/tael (buy) and VND1,143,000/tael (sell), down VND13,000/tael in the selling direction compared to yesterday morning's trading session.

Similarly, in Ho Chi Minh City, silver prices also decreased, currently at VND1,115,000/tael (buy) and VND1,149,000/tael (sell), also down VND13,000/tael, down VND13,000/tael for both buying and selling compared to yesterday morning's trading session.

On the world market, silver price is listed at 36.28 USD/ounce; down 0.25 USD compared to yesterday.

Silver prices edged lower after weaker-than-expected U.S. inflation data dragged Treasury yields lower and weighed on the dollar. While gold responded positively to the news, silver lagged behind and failed to sustain its recent gains.

The consumer price index (CPI) rose just 0.1% in May, below the forecast of 0.2%. Year-on-year, the CPI held steady at 2.4%. More importantly for the market, the core CPI excluding food and energy also rose just 0.1% month-on-month, compared to the estimate of 0.3%. The data prompted a risk-off reaction in the dollar and treasury markets.

"The progress on trade has added some downward pressure on the dollar and added some momentum to the metals, although silver's response has not been as strong as gold's," said James Hyerczyk, a market analyst.

Silver’s pullback appears to be more corrective than disruptive, James Hyerczyk added. With real yields falling, the dollar under pressure and risk appetite restrained, silver could still see further upside if it can break above $36.89 an ounce.

Source: https://baodaknong.vn/gia-bac-hom-nay-13-6-dung-da-tang-255428.html