Silver prices increased simultaneously on July 23 in both domestic and international markets. Silver prices are trending up strongly as the USD and US Treasury bond yields weaken and gold prices continue to hold high.
Silver price today at Phu Quy Jewelry Group, silver price continues to increase, listed at 1,481,000 VND/tael (buy) and 1,527,000 VND/tael (sell) in Hanoi . In addition, according to a survey at other transaction locations in Hanoi , domestic silver price increased both buying and selling, currently listed at 1,214,000 VND/tael (buy) and 1,248,000 VND/tael (sell).
In Ho Chi Minh City, silver prices are also on the rise, currently at VND1,216,000/tael (buy) and VND1,254,000/tael (sell).
On the world market, silver price is listed at 38.8 USD/ounce; up 0.54 USD compared to yesterday morning.
Silver prices are trending higher as the US dollar and US Treasury yields weaken and gold prices continue to hold high.
"The rally has pushed silver closer to a 14-year high of $39.13 an ounce, reinforcing the bullish trend just as traders prepare for a fraught week of policy, economic data and tariff deadlines," said market analyst James Hyerczyk.
According to James Hyerczyk, precious metals traders believe that any dovish decision from the US Federal Reserve (FED) or economic data could open up new opportunities for price increases. Meanwhile, gold, which usually leads the trend, is currently testing key resistance levels and if economic conditions remain favorable, the trend could spread to silver.
“The short-term outlook for silver remains positive, with plenty of upside momentum. A strong breakout above $39.13/oz could open the way to $40/oz.
"If the dollar remains weak and bond yields remain low, traders will continue to look for opportunities to invest in silver. However, if the Fed makes a surprise hawkish move or the dollar strengthens, the downside risk will emerge, otherwise the bulls will remain in control," said James Hyerczyk.
Source: https://baolamdong.vn/gia-bac-hom-nay-23-7-dong-loat-tang-cao-383300.html
Comment (0)