Silver price today July 27: Decreased for the third consecutive session

This morning, the price of silver on the world market remained almost unchanged. However, in the domestic market, traders simultaneously adjusted it down deeply.

At 5:30 a.m. on July 27, Phu Quy silver price at Phu Quy Gold and Gemstone Group ( Hanoi ) was listed at VND 1,457,000/tael (buy) and VND 1,502,000/tael (sell), down VND 19,000/tael for buy and VND 20,000/tael for sell compared to yesterday morning's trading session.

Also in Hanoi, surveying other trading locations, silver prices are currently listed at VND1,193,000/tael (buy) and VND1,227,000/tael (sell), down VND23,000/tael for buy and VND22,000/tael for sell compared to yesterday morning's trading session.

In Ho Chi Minh City, silver prices followed the same trend, currently at VND1,195,000/tael (buy) and VND1,233,000/tael (sell), down VND23,000/tael for buy and VND22,000/tael for sell compared to yesterday morning's trading session.

Silver price today 277 Down for the third consecutive session

In the world market, according to giabac.net, at 06:04:07 on the morning of July 27, the spot silver price was trading at 38.163 USD/ounce, continuing to decrease by 0.33 USD/ounce compared to yesterday morning's trading session.

Previously, the listed silver price was at 37.96 USD/ounce; down 1.17 USD compared to the morning of July 26.

World silver price is equivalent to 998,000 VND/ounce (buy) and 1,003,000 (sell), unchanged from yesterday morning's trading session.

Silver prices continued to fall as the market hesitated around the psychological resistance level of $40/ounce, a major level that could trigger a sharp rally if broken. Support is currently around $37.50/ounce.

"Silver is a volatile market and has an inverse relationship with the US dollar. With the US dollar rising slightly, silver is not necessarily under pressure but is simply correcting to regain momentum. The move closer to the resistance level of $40 an ounce makes investors more cautious," said senior market analyst Christopher Lewis.

Silver prices remain in a long-term uptrend, despite short-term volatility and corrective pressure near resistance zones, according to Christopher Lewis.

"In the short term, prices may fluctuate, but in the long term, the trend is still up. Therefore, I support the strategy of buying when prices adjust, not short selling. If it breaks the threshold of 40 USD/ounce, silver can head towards 42.50 USD/ounce," said Mr. Christopher Lewis.

Source: https://baolamdong.vn/gia-bac-hom-nay-27-7-giam-phien-thu-ba-lien-tiep-383906.html