Silver price today July 20: Turning down slightly

Domestic and world silver prices slightly decreased after the previous strong increase.

Domestic and world silver prices slightly decreased after the previous strong increase.

Silver price today at Phu Quy Jewelry Group, silver price reversed and decreased slightly, listed at 1,457,000 VND/tael (buy) and 1,502,000 VND/tael (sell) in Hanoi . In addition, according to a survey at other transaction locations in Hanoi , domestic silver price decreased in both buying and selling directions, currently listed at 1,195,000 VND/tael (buy) and 1,228,000 VND/tael (sell).

In Ho Chi Minh City, silver prices also decreased, currently at 1,197,000 VND/tael (buy) and 1,234,000 VND/tael (sell).

On the world market, silver price is listed at 38,165 USD/ounce.

" Although silver is often more volatile than gold, it has followed the trend of the precious metal," said market analyst James Hyerczyk. "Gold's continued rally is providing support for silver, especially as expectations for a US rate cut are now only moderate ."

He said strong US retail sales and falling jobless claims have dampened expectations of a more aggressive policy easing by the Federal Reserve.

" The market is now expecting about 45 basis points of interest rate cuts for the rest of the year, down slightly from the previous 50 points. This has kept Treasury yields high, limiting the upside momentum of gold and silver. However, the falling USD index has helped reduce pressure on the USD-denominated metals group ," James Hyerczyk commented.

Additionally, global tensions continue to maintain safe-haven demand supporting the metals market as investors seek to hedge against geopolitical risks.

Source: https://baolamdong.vn/gia-bac-hom-nay-20-7-quay-dau-giam-nhe-382938.html