Silver price today June 5: Domestic silver price slightly decreased

On the world market, the world silver price is listed at 34.62 USD/ounce; up 0.47 USD.

Silver's rally is slowing as the US dollar strengthens, reducing the precious metal's appeal to buyers.

Accordingly, the USD index rebounded after hitting a low of 98.58, the lowest level since April 22. Investors closing sell orders and taking profits helped the greenback recover, putting pressure on metals priced in USD.

“While this initially supported metal prices, the subsequent USD recovery interrupted the uptrend.

Silver, which often tracks gold, also fell on Tuesday after hitting a four-week high. The correction was largely driven by a stronger dollar and profit-taking, said market analyst James Hyerczyk.

However, the expert added that technically, gold is still holding above $3,310 an ounce. If gold continues to stabilize or increase further, this will fuel the recovery of silver.

Domestic market, silver price today at Phu Quy Gold and Gemstone Group, Phu Quy silver price continued to increase, listed at 1,302,000 VND/tael (buy) and 1,342,000 VND/tael (sell) in Hanoi . In addition, according to a survey at other transaction locations in Hanoi, domestic silver price decreased slightly in both buying and selling directions, currently listed at 1,091,000 VND/tael (buy) and 1,121,000 VND/tael (sell).

In Ho Chi Minh City, silver prices also decreased, currently at 1,093,000 VND/tael (buy) and 1,126,000 VND/tael (sell). World silver prices increased in both buying and selling directions, currently at 900,000 VND/ounce (buy) and 905,000 VND/ounce (sell).

Source: https://baodaknong.vn/gia-bac-hom-nay-5-6-gia-bac-trong-nuoc-giam-nhe-254655.html