In the world market, the spot silver price is trading at 38.196 USD/ounce, down 0.265 USD/ounce. In the domestic market, silver prices are also slightly adjusted down by brands.
At 06:30 on July 16, Phu Quy silver price at Phu Quy Gold and Gemstone Group ( Hanoi ) was listed at 1,457,000 VND/tael (buy) and 1,502,000 VND/tael (sell). Decreased 2,000 VND/tael for buying and 30,000 VND/tael for selling compared to yesterday morning's trading session.
Also in Hanoi, surveying other trading locations, silver prices are currently listed at VND1,196,000/tael (buy) and VND1,230,000/tael (sell), down VND23,000/tael for buy and VND22,000/tael for sell compared to yesterday morning's trading session.
In Ho Chi Minh City, silver prices followed the same trend, currently at VND1,198,000/tael (buy) and VND1,235,000/tael (sell), down VND23,000/tael in both buying and selling compared to yesterday morning's trading session.
In the world market, spot silver price is trading at 38.196 USD/ounce, down 0.265 USD/ounce.
Silver prices continued to rise sharply during the week of July 6-12. In particular, on July 11 alone, silver jumped 1.93%, breaking through the resistance level of $37, opening a higher trading range.
"This rally is driven by a number of factors: signals from the Federal Reserve about interest rate cuts, trade tensions under President Trump and a deepening silver supply shortage," market analyst James Hyerczyk emphasized.
Minutes from the July 9 meeting showed the Fed is leaning toward cutting interest rates in the coming months to support the economy. This move would reduce bond yields, thereby increasing the appeal of safe-haven assets such as gold and silver.
The latest report from the Silver Institute (SI) said that the silver market is expected to be short by 117.6 million ounces by 2025. The reason comes from the strong increase in industrial demand, especially in the solar energy, electric vehicle and artificial intelligence (AI) sectors.
“Silver is now entering a new growth cycle. If it breaks above $40 an ounce, the market will enter an unpredictable correction phase as both speculators and long-term investors join in,” said James Hyerczyk, market expert at FXEmpire.
Source: https://baolamdong.vn/gia-bac-hom-nay-16-7-gia-bac-the-gioi-tiep-tuc-giam-382445.html
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