Overview of silver price today 12/2/2024
At Phu Quy Gold Investment Joint Stock Company, today's silver price recorded an upward adjustment, with the listed price in Hanoi being 1,137,000 VND/tael (buy) and 1,172,000 VND/tael (sell). In addition, a survey at some other trading locations in Hanoi showed that the silver price also had a slight adjustment, currently at 953,000 VND/tael (buy) and 983,000 VND/tael (sell).
In Ho Chi Minh City, silver prices also increased, at VND955,000/tael (buy) and VND985,000/tael (sell).
In the international market, silver prices remain stable, currently at 776,000 VND/ounce (buy) and 781,000 VND/ounce (sell).
Both domestic and world markets showed positive trends, however, the increase was slight, in line with the general development of the precious metals market.
Update on silver price on December 2 in two major markets Hanoi and Ho Chi Minh City
| Silver type | Unit | Hanoi | Ho Chi Minh City | ||
| Buy | Sell | Buy | Sell | ||
| Silver 99.9 | 1 amount | 953,000 | 983,000 | 955,000 | 985,000 |
| 1 kg | 25,408,000 | 26,206,000 | 25,460,000 | 26,257,000 | |
| Silver 99.99 | 1 amount | 961,000 | 991,000 | 962,000 | 993,000 |
| 1 kg | 25,614,000 | 26,418,000 | 25,656,000 | 26,469,000 | |
Update silver price list 2/12 of Phu Quy Gold Investment Joint Stock Company
| Silver type | Unit/VND | Hanoi | |
| Buy | Sell | ||
| Silver bars, Phu Quy 999 silver bars | 1 amount | 1,137,000 | 1,172,000 |
| Phu Quy 999 Silver Bar | 1 kg | 30,319,924 | 31,253,255 |
Update world silver price list on December 2, 2024
| Unit | World silver price today (VND) | |
| Buy | Sell | |
| 1 Ounce | 776,000 | 781,000 |
| 1 only | 93,600 | 94,211 |
| 1 amount | 936,000 | 942,000 |
| 1 kg | 24,960,000 | 25,123,000 |
Silver prices recorded an impressive recovery at the end of the weekend trading session. On the Comex floor, silver increased by 3.25% from the bottom of 30.3 USD/Troy-ounce, while the Shanghai market also witnessed an increase of 2.07% compared to the previous session.
The main reason for this increase is believed to be the escalating tensions in the Middle East. New developments in Syria have caused investors to shift to safe-haven assets, in which silver continues to affirm its important role as a traditional precious metal, attracting investment flows in the context of global instability.
However, silver’s rally has not yet reached the expected level. Part of the reason is due to the low trading volume in the US market, as investors are on Thanksgiving holiday. However, positive signals from geopolitical factors still create momentum to support prices in the short term.
However, the medium- to long-term outlook for silver prices remains challenging. With around 58% of silver production used in industry, especially electric vehicles, industrial demand will be a key factor in shaping silver prices. Currently, silver inventories in China remain high at around 1,200 tonnes, continuing to put downward pressure on prices. Unless China’s economic stimulus policies significantly improve silver demand in manufacturing, silver’s ability to sustain its upward momentum will be difficult.
The strong rally over the weekend underscores silver’s appeal as a safe haven asset during times of uncertainty, but investors should be cautious. Factors such as inventory pressures, industrial demand and competition from other investment vehicles should be carefully considered before making a decision to invest in silver.
Source: https://baodaknong.vn/gia-bac-hom-nay-2-12-2024-phuc-hoi-manh-me-235766.html
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