Silver price today May 7: Domestic price slightly decreased

Specifically, at Phu Quy Gold and Gemstone Group, the listed silver price in Hanoi reached 1,258,000 VND/tael for buying and 1,297,000 VND/tael for selling, a slight decrease of 6,000 VND/tael compared to yesterday's session.

Meanwhile, at retail points in Hanoi, silver prices are trading around VND1,052,000 - 1,081,000/tael, down slightly in both directions.

In Ho Chi Minh City, the recorded decrease was 6,000 VND/tael for buying and 10,000 VND/tael for selling, with the current price at 1,053,000 - 1,086,000 VND/tael.

According to a survey at 7:40 a.m., the international silver price was listed at 858,000 - 863,000 VND/ounce, equivalent to 33.01 USD/ounce, down 0.60% compared to the previous session (32.71 USD/ounce).

Typically, higher interest rates are negative for precious metals like silver, which does not yield interest. However, geopolitical risks, especially trade tensions between the US and China, are helping silver.

Although President Donald Trump affirmed his willingness to reduce tariffs to promote cooperation, he also announced that he had no plans to meet with Chinese President Xi Jinping this week, making the market more cautious.

In addition, positive signals from the US economy also contributed to supporting investor sentiment. The ISM services PMI index in April reached 51.6 points, exceeding forecasts and showing that the service sector still maintained a slight growth momentum.

Source: https://baoquangnam.vn/gia-bac-hom-nay-7-5-trong-nuoc-giam-nhe-3154247.html