Silver price today July 17: World silver turns to increase

This morning, the world silver price turned to increase. Domestically, brands still adjusted down from 6,000 to 9,000 VND/tael compared to yesterday morning's trading session.

Domestic silver price today

At 5:30 a.m. on July 17, Phu Quy silver price at Phu Quy Gold and Gemstone Group ( Hanoi ) was listed at VND 1,448,000/tael (buy) and VND 1,493,000/tael (sell), down VND 9,000/tael for both buying and selling compared to yesterday morning's trading session.

Also in Hanoi, surveying other trading locations, silver prices are currently listed at VND1,190,000/tael (buy) and VND1,223,000/tael (sell). A decrease of VND6,000/tael for buying and VND7,000/tael for selling compared to yesterday morning's trading session.

In Ho Chi Minh City, silver prices are following the same trend, currently at VND1,192,000/tael (buy) and VND1,229,000/tael (sell), down VND6,000/tael in both buying and selling compared to yesterday morning's trading session.

World silver price today

In the world market, according to giabac.net, at 06:10:05 on the morning of July 17, the spot silver price was trading at 37.918 USD/ounce, up 0.146 USD/ounce compared to yesterday morning's trading session.

Previously, silver price was listed at 37.84 USD/ounce, up 0.356 USD/ounce compared to yesterday morning's trading session.

World silver price is equivalent to 992,000 VND/ounce (buy) and 997,000 VND/ounce (sell), an increase of 7,000 VND/ounce in buying and 6,000 VND/ounce in selling compared to yesterday's trading session.

Silver prices fell in mid-week trading after hitting a 14-year high in the previous session, a decline that was seen as a technical correction due to profit-taking rather than a trend change.

Gold also fell slightly along with other precious metals, amid lackluster inflation data and rising trade tensions, said market analyst James Hyerczyk.

Adding to the uncertainty, the Trump administration is considering removing the chairman of the US Federal Reserve (FED), although no concrete action has been taken. This could increase market volatility and boost demand for safe-haven assets such as gold and silver.

The expert added that although a stronger US dollar and waning interest rate cut expectations are putting pressure on precious metals prices, trade tensions between the US and Europe and Mexico continue to act as supportive factors.

Source: https://baolamdong.vn/gia-bac-hom-nay-17-7-bac-the-gioi-quay-dau-tang-382571.html