Domestic silver price today
At 5:30 a.m. on June 19, Phu Quy Gold and Gemstone Group ( Hanoi ) listed Phu Quy silver price at VND 1,433,000/tael (buy) and VND 1,477,000/tael (sell), an increase of VND 28,000/tael for buying and VND 29,000/tael for 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 VND1,158,000/tael (buy) and VND1,188,000/tael (sell), an increase of VND27,000/tael in both buying and selling compared to yesterday morning's trading session.
Similarly, in Ho Chi Minh City, silver prices are also on an upward trend in both buying and selling, currently listed at VND 1,158,000/tael (buy) and VND 1,188,000/tael (sell), up VND 25,000/tael in buying and VND 21,000/tael in selling compared to yesterday morning.
World silver price today
In the world market, according to giabac.net, at 05:59:31 on the morning of June 19, the spot silver price was trading at 36.752 USD/ounce, down 0.386 USD/ounce compared to yesterday morning's trading session.
Previously, the silver price listed on Goldprice.org was at 37.08 USD/ounce; an increase of 0.83 USD compared to early this morning.
The world silver price is currently at 959,000 VND/ounce (buy) and 964,000 VND/ounce (sell), down 9,000 VND/ounce for buying and 10,000 VND/ounce for selling compared to yesterday morning's trading session.
"Silver prices have broken through $37 an ounce, marking the strongest gain in more than a decade, driven by solid physical demand, industrial sales and supportive technical factors," said market analyst James Hyerczyk.
Technically, silver continues to show strength across all time frames, with traders now eyeing the next target at $38.34 an ounce, before heading to the psychological $40.00 an ounce, said James Hyerczyk.
"The reason behind the growth in silver prices comes from the imbalance between supply and demand. Industrial manufacturing demand is forecast to increase by 3% in 2025, possibly surpassing 700 million ounces, setting a new record.
In 2024, demand will reach 680.5 million ounces, the highest level in four consecutive years. Although global supply is forecast to increase by 2% and overall demand will decrease by 1% this year, the supply deficit is still expected to reach 117.6 million ounces, marking the fifth consecutive year of shortage," he said.
Source: https://baodaknong.vn/gia-bac-hom-nay-19-6-trong-nuoc-tang-the-gioi-giam-256027.html
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