Silver price today May 18: Slight increase

Domestic market

At Phu Quy Gold and Gemstone Group, Phu Quy silver price increased slightly, listed at 1,241,000 VND/tael (buy) and 1,279,000 VND/tael (sell) in Hanoi .

In addition, according to a survey at other trading locations in Hanoi, domestic silver prices increased in both buying and selling directions, currently listed at VND 1,026,000/tael (buy) and VND 1,056,000/tael (sell).

Silver price today recorded, domestic and world silver price increased slightly in both buying and selling directions.

In Ho Chi Minh City, silver prices are also on the rise, currently at VND1,028,000/tael (buy) and VND1,062,000/tael (sell).

World silver prices increased in both buying and selling directions, currently at 837,000 VND/ounce (buy) and 842,000 VND/ounce (sell).

World market

On the world market, the silver price listed on Goldprice.org is at 32.03 USD/ounce.

"Silver's failure to recover above $32.82 an ounce added to the pressure, with traders increasingly concerned about the possibility of further declines," said James Hyerczyk, market analyst at FX Empire.

External market factors also added to the downward pressure on silver, James Hyerczyk added.

"The US dollar strengthened, heading for a fourth straight weekly gain, denting demand for dollar-denominated metals such as silver.

Besides, positive sentiment related to progress in US-China trade dialogue caused investors to withdraw from safe-haven assets such as silver and gold," he said.

Source: https://baodaknong.vn/gia-bac-hom-nay-18-5-tang-nhe-252884.html