Silver price today May 27: Decreased across the board

After a slight increase, the world silver price has turned down this morning. Domestically, silver prices at businesses across the country have also adjusted down. However, the decrease is still very modest.

Domestic silver price

At 5:30 a.m. on May 27, Phu Quy Gold and Gemstone Group ( Hanoi ) listed the price of Phu Quy silver at VND 1,274,000/tael (buy) and VND 1,313,000/tael (sell), down VND 3,000/tael for both buying and selling compared to yesterday morning's trading session.

Also in Hanoi, according to a survey at other trading locations, domestic silver prices decreased in both buying and selling directions, currently listed at VND1,063,000/tael (buy) and VND1,093,000/tael (sell), down VND2,000/tael in both buying and selling directions compared to yesterday morning's trading session.

Similarly, in Ho Chi Minh City, silver prices also decreased, currently listed at VND1,065,000/tael (buy) and VND1,098,000/tael (sell), down VND2,000/tael for both buying and selling compared to yesterday morning's trading session.

World silver price

In the world market, according to giabac.net, at 05:44:40 on the morning of May 27, the spot silver price was trading at 33,463 USD/ounce, down from 33,511 USD/ounce in yesterday morning's trading session.

Previously, the silver price listed on Goldprice.org was at 33.52 USD/ounce, down 0.8 USD/ounce compared to yesterday morning's trading session.

The world silver price is currently at 867,000 VND for buying and 872,000 VND/ounce for selling, down 3,000 VND/ounce for buying and 4,000 VND/ounce for selling compared to yesterday morning's trading session.

Silver is benefiting from macroeconomic headwinds, a weakening US dollar and rising fiscal concerns from Washington (US), according to FX Empire.

Additionally, the appetite for safe-haven assets such as precious metals continues to strengthen amid growing doubts about the creditworthiness of the United States, making precious metals such as silver a safe alternative.

"The sharp decline in the US dollar has been a major factor driving the move in silver prices," said James Hyerczyk, market analyst at FX Empire. "Doubts about the US's financial credibility are spreading, with short positions in the US dollar soaring to $17.3 billion and international investors starting to withdraw from US assets.

The decline in the dollar despite rising bond yields reflects growing concerns about the long-term attractiveness of US financial assets, which is driving demand for precious metals.”

Traders should continue to closely monitor macro factors, especially developments in the US bond market and statements from central banks, to grasp short-term trends, the expert added./.

Source: https://baodaknong.vn/gia-bac-hom-nay-27-5-dong-loat-giam-253735.html