World prices increased by 1.07 USD/ounce compared to yesterday morning's trading session. Domestically, Phu Quy silver prices were listed by businesses at the stable price of the previous session, while other brands increased slightly.
Domestic silver price today
At 5:30 a.m. on August 5, Phu Quy silver price at Phu Quy Gold and Gemstone Group ( Hanoi ) was listed at VND 1,419,000/tael (buy) and VND 1,463,000/tael (sell), unchanged from yesterday's trading session.
Also in Hanoi, surveying other trading locations, silver prices are currently listed at VND1,168,000/tael (buy) and VND1,202,000/tael (sell), an increase of VND7,000/tael in both buying and selling compared to yesterday morning's trading session.
In Ho Chi Minh City, silver prices followed the same trend, currently at VND1,170,000/tael (buy) and VND1,208,000/tael (sell), up VND7,000/tael for buying and VND8,000/tael for selling compared to yesterday morning's trading session.
World silver price today
On the world market, according to giabac.net, at 07:25:43 on August 5, the listed silver price was at 38.056 USD/ounce, an increase of 1.07 USD/ounce compared to yesterday morning's trading session.
Previously, the listed silver price was at 36.9 USD/ounce, up 0.14 USD compared to the morning of August 4.
Equivalent to 980,000 VND/ounce for buying and 985,000 VND/ounce for selling, an increase of 10,000 VND/ounce for buying and 10,000 VND/ounce for selling compared to yesterday morning's trading session.
The world silver price movement is largely dependent on economic data from the US, information related to the labor market and monetary policy of the US Federal Reserve (FED).
Moreover, gold prices rose as weak US employment data raised expectations of a possible interest rate cut, while silver prices did not benefit as much, suggesting that the market is paying more attention to industrial demand, a sector that is vulnerable to the current trade situation.
"Silver's weakness reflects growing concerns about global industrial demand," said market analyst James Hyerczyk. "While silver typically moves in tandem with gold during major monetary events, its recent divergence from this trend is a clear reflection of the pressures of an economic slowdown."
Source: https://baolamdong.vn/gia-bac-hom-nay-5-8-tiep-tuc-da-tang-386436.html
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