Silver price today June 14: Silver recovers

World silver prices tend to stop increasing in this morning's trading session. Domestically, prices remained unchanged at Phu Quy Jewelry Group (Hanoi) but increased sharply at some other stores in Hanoi and Ho Chi Minh City.

Domestic silver price

At 5:30 a.m. on June 14, Phu Quy Gold and Gemstone Group ( Hanoi ) listed the price of Phu Quy silver at VND 1,382,000/tael (buy) and VND 1,425,000/tael (sell), unchanged from yesterday morning's trading session.

Also in Hanoi, according to a survey at other trading locations, silver prices are currently listed at VND1,129,000/tael (buy) and VND1,159,000/tael (sell), an increase of VND16,000/tael for buying and VND16,000/tael for selling compared to yesterday morning's trading session.

Similarly, in Ho Chi Minh City, silver prices also increased, currently at VND1,131,000/tael (buy) and VND1,165,000/tael (sell), also increasing by VND16,000/tael in both buying and selling compared to yesterday morning's trading session.

World silver price

On the world market, silver price is listed at 36.52 USD/ounce; up 0.24 USD compared to early this morning.

Silver experienced a volatile session on June 12, falling sharply in early trading before recovering sharply. The metal briefly hit technical support but quickly attracted solid buying interest.

"This reversal shows that traders still have faith in the overall trend, choosing to buy on dips rather than chasing the uptrend above the resistance level of $36.89 an ounce," said market analyst James Hyerczyk.

The expert said that this development shows that traders are expecting the next bullish trend, accumulating near established levels instead of waiting for a confirmation of a breakout from recent highs. This pattern reflects the strategy of buying before new momentum as many expected.

“Expectations of rate cuts and a weak dollar continue to support the uptrend. Macro factors remain favorable. This week’s lower-than-expected consumer price index (CPI) showed inflation rose just 0.1% in May, helping to lower Treasury yields and push the dollar to a two-month low.

The market is now pricing in at least a 50 basis point rate cut by the Federal Reserve this year, which would reduce the cost of holding non-yielding assets like silver and gold. This situation continues to reinforce the bullish trend of precious metals," said James Hyerczyk.

Source: https://baodaknong.vn/gia-bac-hom-nay-14-6-bac-phuc-hoi-255563.html