The world silver price has decreased by 29,000 VND/ounce in both buying and selling directions compared to yesterday morning's trading session. Domestically, the Phu Quy silver price at Phu Quy Gemstone Group (Hanoi) is listed to have increased slightly.
Domestic silver price today
At 5:30 a.m. on July 31, Phu Quy silver price at Phu Quy Gold and Gemstone Group ( Hanoi ) was listed at VND 1,458,000/tael (buy) and VND 1,503,000/tael (sell), an increase of VND 3,000/tael for both buying and selling compared to yesterday morning's trading session.
Also in Hanoi, surveying other trading locations, silver prices are currently listed at VND1,195,000/tael (buy) and VND1,229,000/tael (sell), unchanged from 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), unchanged from yesterday morning's trading session.
World silver price today
In the world market, according to giabac.net, at 05:57:17 on the morning of July 31, the spot silver price was trading at 36,516 USD/ounce, down 1,686 USD/ounce compared to yesterday morning's trading session.
The world silver price is equivalent to 973,000 VND/ounce (buy) and 978,000 VND/ounce (sell), down 29,000 VND/ounce in both buying and selling compared to yesterday morning's trading session.
The silver market has not yet determined a clear trend as the whole market is waiting for important signals from the Federal Open Market Committee (FOMC) meeting.
Traders are closely watching to see what Federal Reserve Chairman Jerome Powell has to say, which is keeping a cautious tone in a market that is highly volatile at times like this, said senior market analyst Christopher Lewis.
"After a strong rally earlier, silver prices are now pausing to consolidate and correct. In my opinion, the key question for the market going forward is whether there are enough buyers to continue pushing prices higher, or will it have to fall back to $37.50 an ounce, which was once a strong resistance area and has now become a support area," said Christopher Lewis.
On the other hand, the expert said that the level of 40 USD/ounce is an important psychological milestone, followed by many people and may be related to options trading.
Source: https://baolamdong.vn/gia-bac-hom-nay-31-7-bac-the-gioi-giam-manh-384466.html
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