After a deep decline, this morning, the price of Phu Quy silver at Phu Quy Gold and Gemstone Group ( Hanoi ) increased by 33,000 VND/tael in the selling direction.
Silver price today at Phu Quy Jewelry Group, silver price reversed to increase, listed at 1,412,000 VND/tael (buy) and 1,456,000 VND/tael (sell) in Hanoi. In addition, according to a survey at other transaction locations in Hanoi, domestic silver price increased slightly in both buying and selling directions, currently listed at 1,138,000 VND/tael (buy) and 1,172,000 VND/tael (sell).
In Ho Chi Minh City, silver prices also decreased, currently at 1,140,000 VND/tael (buy) and 1,178,000 VND/tael (sell).
On the world market, silver price is listed at 36.4 USD/ounce; up 0.36 USD compared to yesterday morning.
Silver prices rose sharply in the middle of the week. According to market analyst James Hyerczyk, gold prices are indirectly supporting silver prices, as investors prepare to receive the ADP June jobs report.
The expert said that if the reported data is weak, expectations that the US Federal Reserve (FED) will lower interest rates will increase, weakening the USD and further supporting precious metal prices.
Meanwhile, the US Congress’s passage of a tax and spending bill has pushed up the yield on 10-year Treasury bonds, reflecting growing concerns about inflation while the Fed remains reluctant to tighten policy too aggressively.
"Normally, rising yields would put downward pressure on precious metals. However, persistent budget deficits and the Fed's cautious stance are creating potential support for gold and silver as investors seek to hedge against inflation risks," said James Hyerczyk.
For metals investor James Hyerczyk, this backdrop continues to support prices as the US dollar weakens and silver has a chance to maintain its high price range.
Source: https://baolamdong.vn/gia-bac-hom-nay-4-7-dong-loat-tang-381028.html
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