Silver price today 7/24: Prices increase across the board

This morning, the world silver price continued to increase. Domestically, all brands adjusted sharply, with the highest increase reaching 18,000 VND/tael.

Domestic silver price today

At 5:30 a.m. on July 24, Phu Quy silver price at Phu Quy Gold and Gemstone Group ( Hanoi ) was listed at VND 1,499,000/tael (buy) and VND 1,545,000/tael (sell), an increase of VND 18,000/tael for both buying and selling compared to yesterday morning's trading session.

Also in Hanoi, surveying other trading locations, silver prices are currently listed at 1,232,000 VND/tael (buy) and 1,266,000 VND/tael (sell), an increase of 18,000 VND/tael for both buying and selling compared to yesterday morning's trading session.

In Ho Chi Minh City, silver prices followed the same trend, currently at VND1,234,000/tael (buy) and VND1,271,000/tael (sell), up VND18,000/tael for buying and VND17,000/tael for selling compared to yesterday morning's trading session.

Silver price today 247 All prices increased

World silver price today

In the world market, according to giabac.net, at 05:57:30 on the morning of July 24, the spot silver price was trading at 39.302 USD/ounce, up 0.11 USD/ounce compared to yesterday morning's trading session.

Previously, the listed silver price was at 39.16 USD/ounce; up 0.5 USD compared to yesterday morning.

World silver price is equivalent to 1,027,000 VND/ounce (buy) and 1,032,000 VND/ounce (sell), unchanged from yesterday morning's trading session.

"If this level is broken, the next technical target is near $44.00 an ounce. The upside is supported by a weaker dollar and lower U.S. Treasury yields, while gold also climbed to a five-week high, providing additional traction for silver," said market analyst James Hyerczyk.

In addition, the recent speech of the Chairman of the US Federal Reserve (FED) Jerome Powell was also a major catalyst. The market only priced the possibility of the FED cutting interest rates in July at about 4.7%.

"If Powell signals more dovishness, the USD could fall further and silver could rally more," said James Hyerczyk.

Meanwhile, gold approached the resistance of 3,451.53 USD/ounce, maintaining an upward structure with the support zone of 3,331 - 3,310 USD/ounce.

"In precious metal rallies, gold often leads the way, but silver rallies more strongly when the USD is weak and industrial demand is stable," said James Hyerczyk.

According to the expert, from technical signals and fundamental factors, silver has many opportunities to target the $44.00/ounce mark.

Source: https://baolamdong.vn/gia-bac-hom-nay-24-7-dong-loat-tang-gia-383460.html