Silver price today December 25, 2024: Silver slightly increased

Silver price today (December 25), world and domestic silver prices recorded continued increase.

Silver price today at Phu Quy Jewelry Group, silver price increased slightly, listed at 1,105,000 VND/tael (buy) and 1,139,000 VND/tael (sell) in Hanoi. In addition, according to a survey at other trading locations in Hanoi, silver price reversed to increase slightly, currently listed at 927,000 VND/tael (buy) and 968,000 VND/tael (sell). In Ho Chi Minh City, silver price also increased, currently at 928,000 VND/tael (buy) and 970,000 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 25, 2024:

Silver type	Unit	Hanoi		Ho Chi Minh City
		Buy	Sell	Buy	Sell
Silver 99.9	1 amount	927,000	968,000	928,000	970,000
	1 kg	24,708,000	25,806,000	24,760,000	25,857,000
Silver 99.99	1 amount	934,000	976,000	936,000	978,000
	1 kg	24,914,000	26,018,000	24,956,000	26,069,000

Update the latest silver price list at Phu Quy Gold and Gemstone Group on December 25, 2024:

Silver type	Unit/VND	Hanoi
		Buy	Sell
Silver bars, Phu Quy 999 silver bars	1 amount	1,105,000	1,139,000
Phu Quy 999 Silver Bar	1 kg	29,466,593	30,373,257

Latest update on world silver prices on December 25, 2024:

Unit	World silver price today (VND)
	Buy	Sell
1 Ounce	755,000	760,000
1 only	91,030	916.44
1 amount	910,000	916,000
1 kg	24,275,000	24,438,000

The recovery in silver prices after three sharp declines can be explained by a number of factors affecting both demand and supply. Concerns about rising inflation and the prospect of continued positive growth in the US economy have supported the increase in silver prices. Specifically, when inflation is high, investors tend to seek precious metals such as silver and gold as a means of protecting their assets, because these metals are considered "safe haven" assets.

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.

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.

Source: https://congthuong.vn/gia-bac-hom-nay-25122024-bac-nhich-tang-nhe-366044.html