Silver price today May 28: Decline for the second consecutive session

This morning, May 28, silver prices in the world and domestic markets simultaneously decreased. This is the second consecutive decrease of the precious metal this week.

On the morning of May 28, Phu Quy Gold and Gemstone Group ( Hanoi ) listed the price of Phu Quy silver at 1,260,000 VND/tael (buy) and 1,299,000 VND/tael (sell), down 14,000 VND/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 VND1,052,000/tael (buy) and VND1,082,000/tael (sell), down VND11,000/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 1,054,000 VND/tael (buy) and 1,087,000 VND/tael (sell), down 11,000 VND/tael for both buying and selling compared to yesterday morning's trading session.

On the world market, the silver price listed on Goldprice.org is at 33.39 USD/ounce; down 0.13 USD compared to early this morning.

According to FX Empire, one of the reasons why the silver market was quiet at the beginning of the week was due to changing expectations about trade policy.

US President Donald Trump has just announced to postpone the imposition of 50% tax on goods from the EU to July 9, after a phone call with President of the European Commission (EC) Ursula von der Leyen.

James Hyerczyk, market analyst at FX Empire, commented: "Previously, the US President's tough statements on taxes had caused investors to rush to gold and silver as safe-haven assets. However, the postponement of the tax deadline immediately cooled down the investment pressure."

James Hyerczyk emphasized that in the context of concerns about the return of inflation, silver is increasingly favored because of its dual role as an industrial metal and a means of storing value.

"Although it typically lags gold in times of crisis, factors such as trade policy, US dollar risks and sovereign debt issues are expanding the appeal of the precious metal," James Hyerczyk said.

Source: https://baodaknong.vn/gia-bac-hom-nay-28-5-suy-giam-phien-thu-hai-lien-tiep-253834.html