Silver price today December 24, 2024: Silver increased across the board

Silver price today (December 24), silver increased simultaneously in both domestic and world markets.

Silver price today at Phu Quy Jewelry Group, silver price is listed at 1,098,000 VND/tael (buy) and 1,132,000 VND/tael (sell) in Hanoi. In addition, according to a survey at other trading locations in Hanoi, silver price has reversed to increase, currently listed at 919,000 VND/tael (buy) and 953,000 VND/tael (sell). In Ho Chi Minh City, silver price also increased, currently at 921,000 VND/tael (buy) and 955,000 VND/tael (sell). World silver price is currently increasing slightly at 755,000/ounce (buy) and 760,000/ounce (sell).

Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on December 24, 2024:

Silver type	Unit	Hanoi		Ho Chi Minh City
		Buy	Sell	Buy	Sell
Silver 99.9	1 amount	926,000	967,000	928,000	969,000
	1 kg	24,690,000	25,788,000	24,742,000	25,839,000
Silver 99.99	1 amount	934,000	975,000	935,000	977,000
	1 kg	24,896,000	26,000,000	24,938,000	26,051,000

Update the latest silver price list at Phu Quy Gold and Gemstone Group on December 24, 2024:

Silver type	Unit/VND	Hanoi
		Buy	Sell
Silver bars, Phu Quy 999 silver bars	1 amount	1,098,000	1,132,000
Phu Quy 999 Silver Bar	1 kg	29,279,927	30,186,591

Latest update on world silver prices on December 24, 2024:

Unit	World silver price today (VND)
	Buy	Sell
1 Ounce	755,000	760,000
1 only	91,010	91,623
1 amount	910,000	916,000
1 kg	24,269,000	24,433,000

Last week, the market focus was on the results of the US Federal Reserve's (FED) interest rate meeting announced early Thursday morning (December 19). In its final decision, the FED adjusted down its forecast for interest rate cuts next year to 50 basis points, equivalent to two 25 basis point cuts, bringing the target interest rate to 3.75 - 4%. This cut is half the size of the 100 basis points announced at the September meeting. This shows that the FED is being more cautious in its decision to lower interest rates.

This has caused the last trading week, the red color almost covered the metal price chart. For precious metals, the price of silver decreased by 3.45% to 29.96 USD/ounce, marking the first time the price of this commodity has dropped below the 30 USD/ounce mark since mid-September. Entering the new week, silver has tended to increase slightly after a series of consecutive days of price declines.

In addition, the 2025 inflation forecast has been raised to 2.5%, up from the previous estimate of 2.1% and well above the Fed's 2% target. In addition, the US also revised up its GDP figures last week. According to official data released by the US Department of Commerce's Bureau of Economic Analysis, the country's third-quarter GDP increased by 3.1% compared to the previous quarter, up 0.3 percentage points from the preliminary figure.

This positive GDP data follows a series of recent data showing that the US economy is still growing steadily, while inflation is showing signs of rising again. Accordingly, in the context of the US economy still growing well and the Fed signaling that it will lower interest rates more slowly, the USD rebounded strongly last week, the Dollar Index climbed to a two-year high.

Source: https://congthuong.vn/gia-bac-hom-nay-24122024-bac-do-ng-loat-tang-365824.html