On the morning of November 21, the world silver price continued to fall, falling to 50.58 USD/ounce, down another 0.25% compared to the previous session. This is the third consecutive decline, after this precious metal fell sharply from the 52.5 USD/ounce range and is currently hovering around the psychological mark of 50 USD/ounce. The decline of silver is even deeper than that of gold at the same time.
Silver prices fell sharply today
Domestic silver prices also cooled down this morning. At Sacombank Gold and Gemstone Company (SBJ), silver bars were listed at 1.923 million VND/tael for buying and 1.974 million VND/tael for selling, down 15,000 VND/tael compared to yesterday.
Phu Quy Group adjusted the price down to about 1,933 million VND/tael for buying and 1,993 million VND/tael for selling, a sharp decrease of 40,000 VND/tael in just one day.
According to Nguoi Lao Dong Newspaper, the attraction of silver has decreased significantly after reaching a peak of VND2,145 million/tael in mid-October.
For over a month, silver price has been around 2 million VND/tael, causing quiet transactions. Investors and people tend to observe more than buy and sell.
However, since the beginning of the year, silver prices have increased by more than 60% and are considered to have long-term growth prospects. However, experts believe that the growth momentum will slow down in the rest of the year, after a period of continuous hot growth.
Currently, the world silver price converted according to this morning's exchange rate is about 1.61 million VND/tael, significantly lower than the domestic price.
Source: https://nld.com.vn/gia-bac-hom-nay-21-11-lien-tuc-lao-doc-suc-mua-thap-kenh-dau-tu-bac-da-het-vi-196251121093134671.htm
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