Silver price today July 29: Domestic silver increased slightly

World silver prices continued to increase in this morning's trading session. Domestically, most businesses adjusted slightly upward, except for Phu Quy silver prices at Phu Quy Gold and Gemstone Group (Hanoi) which decreased.

Domestic price today

At 5:30 a.m. on July 29, Phu Quy silver price at Phu Quy Gold and Gemstone Group ( Hanoi ) was listed at VND 1,456,000/tael (buy) and VND 1,501,000/tael (sell), down VND 1,000/tael in both buying and selling compared to yesterday morning.

Also in Hanoi, surveying other trading locations, silver prices are currently listed at VND1,195,000/tael (buy) and VND1,229,000/tael (sell), an increase of VND2,000/tael for both buying and selling compared to yesterday morning's trading session.

In Ho Chi Minh City, silver prices followed the same trend, currently at VND1,197,000/tael (buy) and VND1,234,000/tael (sell), up VND2,000/tael for buy and VND1,000/tael for sell compared to yesterday's trading session.

World silver price today

In the world market, according to giabac.net, at 06:09:35 on the morning of July 29, the spot silver price was trading at 38,182 USD/ounce, up 0.1 USD/ounce compared to yesterday morning's trading session.

Previously, the listed silver price was at 37.96 USD/ounce; a slight increase of 0.31 USD compared to the morning of July 28.

World silver price is equivalent to 1,000,000 VND/ounce (buy) and 1,005,000 VND/ounce (sell), an increase of 2,000 VND/ounce in both buy and sell compared to yesterday morning's trading session.

Silver's rally is slowing down due to a recovering US dollar, better-than-expected economic data such as PMI and jobless claims, and a decline in gold prices.

The silver market could be volatile this week due to a series of important macro events. The focus will be on the US Federal Reserve’s monetary policy meeting on July 30.

According to market analyst James Hyerczyk, although many people predict the FED will keep interest rates unchanged, Chairman Jerome Powell's statement could create volatility.

"If the Fed signals dovishness, the dollar could weaken and boost silver prices. Conversely, if the Fed signals it will keep interest rates high for longer, safe-haven assets like silver could be negatively affected," said James Hyerczyk.

Markets will also be closely watching the core PCE index, a key inflation gauge, and the July jobs report due on August 1.

Source: https://baolamdong.vn/gia-bac-hom-nay-29-7-bac-trong-nuoc-tang-nhe-384173.html