Silver price today 11-8: Unexpected announcement from a silver company

(NLDO) - After the silver price fell to its lowest level in the past month, SBJ Company suddenly announced that it would reopen spot purchases.

On November 8, Sacombank Gold and Gemstone Company (SBJ) listed the buying price of silver bars at around VND1,854 million/tael and the selling price at VND1,902 million/tael, an increase of about VND18,000 per tael compared to yesterday.

Phu Quy Group bought silver bars of all kinds for 1,851 million VND and sold for 1,908 million VND/tael, an increase of 4,000 VND per tael.

Other brands such as Ancarat and Golden Fun sell 1-tael silver bars for around VND1,861 - 1,899 million/tael.

Although silver prices have recovered in the past few days, this precious metal is still at its lowest level in about a month. If calculated from the historical peak of over 2,145 million VND/tael, each tael of silver has now lost more than 240,000 VND (12.7%).

Silver prices rose today but remained at their lowest level in a month.

In the international market, silver price today closed the trading week at 48.35 USD/ounce, up 0.58% compared to the previous session. World silver price also recovered significantly compared to the bottom of 45.5 USD/ounce, but still about 12.7% lower.

A notable development in recent days is that the demand for gold transactions from the domestic market has cooled down significantly compared to before. At some gold companies, there is no longer a scene of people queuing up to trade silver like before.

In the latest announcement, SBJ Company announced the re-launch of the "spot purchase" form for 1-tael silver bars. Every day, 100 customers coming to SBJ's store in Ho Chi Minh City will be able to buy a maximum of 10 taels. For the past few weeks, SBJ has only accepted online orders - pre-payment - receiving silver after 1 month to 6 months.

Phu Quy Company has not yet reopened its silver spot sales channel at the counter, but mainly accepts silver orders online, with prepayment.

Currently, the world silver price converted according to the listed exchange rate is about 1.53 million VND/tael.

Silver prices are down about 12% from their mid-October peak.

Source: https://nld.com.vn/gia-bac-hom-nay-8-11-thong-bao-bat-ngo-cua-mot-cong-ty-bac-19625110810244172.htm