On the morning of June 27, at Phu Quy Jewelry Group ( Hanoi ), the price of 999 silver bars and ingots was still listed at VND 1,395,000/tael (buy) and VND 1,438,000/tael (sell) - unchanged from June 26.
A survey at other precious metal stores in Hanoi showed that the common price for 99.9 silver fluctuated between VND1,125,000 - VND1,155,000/tael, while 99.99 silver was quoted at VND1,132,000 - VND1,162,000/tael. At the same time in Ho Chi Minh City, the silver price also remained stable, recorded around VND1,127,000/tael (buy) and VND1,160,000/tael (sell).
In larger units, 99.99 silver costs around VND30.1-30.7 million/kg, depending on the transaction location and processing fee. According to assessments from trading units, the current price reflects the sluggishness of the physical market, as people and small investors are still monitoring international developments to decide whether to buy or take profits.
In the world market, silver prices continued to recover after escaping the short-term downtrend last week.
Updated at 6:30 a.m. on June 27 (Vietnam time), spot silver price reached 36.64 USD/ounce, up about 0.37 USD (equivalent to +1%) compared to the previous session. This is the third consecutive increase of silver, bringing the price closer to the 37 USD/ounce mark - an important resistance level monitored by many technical analysts.
The growth has been supported by two main factors: a weaker US dollar and expectations of a more dovish Federal Reserve policy. The US dollar index, which measures the greenback’s strength against a basket of major currencies, is currently at its lowest level in nearly three years, making silver and other precious metals cheaper for foreign investors, thereby stimulating demand.
“Silver is not only a safe haven asset, but also an essential industrial metal. If the price breaks $37.50 an ounce, we can definitely expect $40 in the next quarter,” said Christopher Lewis, an analyst at FXEmpire.
Citi analysts also shared a positive view, predicting that silver prices could reach $40 an ounce by the third quarter of 2025 if supportive factors continue to be maintained, including demand growth from the solar and electric vehicle industries – which use silver as a key electrical conductor.
However, some more cautious opinions believe that silver prices will still face short-term adjustment pressure if US economic data recovers strongly, reducing the probability of interest rate cuts. Currently, the market is waiting for more clear signals from the Fed, especially at the meeting in July, to determine the official trend of the precious metal group.
Source: https://baodaknong.vn/gia-bac-hom-nay-27-6-trong-nuoc-giu-gia-thi-truong-quoc-te-tiep-tuc-tang-nhe-256963.html
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