Silver price today 7/3: Slight decrease across the board

After two consecutive increasing sessions, the domestic and international silver markets both slightly decreased in this morning's trading session.

Domestic silver price

Recorded this morning (July 3), domestic silver prices simultaneously turned down at both major trading centers in Hanoi and Ho Chi Minh City.

At Phu Quy Jewelry Group, the price of 999 silver bars and ingots is currently listed at VND1,380,000/tael (buy) and VND1,423,000/tael (sell), down slightly from the previous session. This price is equivalent to about VND36,799,908/kg (buy) and VND37,946,572/kg (sell).

Silver price today 37 Slight decrease across the board

At other dealers in Hanoi, the price of 99.9 silver this morning also decreased by 3,000 - 5,000 VND/tael. The common price is currently fluctuating around 1,127,000 - 1,157,000 VND/tael, equivalent to about 30,053,000 - 30,851,000 VND/kg.

Following the same trend, the Ho Chi Minh City market this morning also recorded a slight decrease in silver prices. Silver 99.9 is being bought at VND1,129,000/tael and sold at VND1,163,000/tael, about VND4,000 - 5,000 lower than the previous session.

This adjustment is not too large but reflects the cautious sentiment of the market in the context that silver has increased quite strongly in June and is entering the accumulation phase.

World silver price

In the world market, as recorded at 7:00 a.m. on July 3, Vietnam time, the spot silver price was listed at 36.04 USD/ounce, down slightly by 0.07 USD compared to the previous session.

According to the current exchange rate, the world silver price is currently equivalent to about 946,000 - 951,000 VND/ounce (buy - sell), equivalent to 30,405,000 - 30,573,000 VND/kg.

The global silver price movement is showing a tug-of-war in the accumulation zone, after failing to break the strong resistance zone around 36.30 USD/ounce. At the beginning of the session, the silver price had increased sharply but then quickly turned around to adjust.

“Silver prices are still in a multi-week consolidation zone,” said Christopher Lewis, senior market analyst. “Every time the price corrects, there is immediate buying pressure, indicating that investors are still waiting for an opportunity to buy at lower prices.”

According to Mr. Lewis, the support zone around $35.48/ounce is proving effective and could help silver prices hold if the selling pressure is not too strong. In case silver prices break through the important resistance level of $37.50/ounce, the uptrend will be consolidated and the next target could be the $40/ounce area.

In addition to technical factors, world silver prices are also being affected by the movements of the US dollar and expectations about the US Federal Reserve's (FED) interest rate policy. The weakening of the US dollar in recent days has made silver more attractive as a financial haven.

At the same time, industrial demand for silver – particularly from the solar, electric vehicle and AI sectors – continues to be a supportive driver for silver prices in the medium to long term.

Market Outlook: Tough but Not Negative

Although silver prices have slightly declined today, experts still maintain a positive view in the medium term. The fact that prices remain above $36/ounce is a good sign, showing that the market has not lost its upward momentum.

With gold prices moving sideways, silver continues to play a dual role as a safe haven asset and a strategic industrial raw material. Short-term corrections are seen as opportunities for investors to accumulate more, especially when the long-term trend still favors an increase in precious metal prices.

Source: https://baolamdong.vn/gia-bac-hom-nay-3-7-dong-loat-giam-nhe-380917.html